Red Setter Geochemical Sampling Programme Underway

RNS Number : 1927I

Wishbone Gold PLC

10 August 2021

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR

10 August 2021

Wishbone Gold Plc

("Wishbone" or the "Company")

Wishbone Gold Plc / Index: AIM: WSBN / Sector: Natural Resources / AQSE: WSBN

Tenement-Wide Red Setter Sampling Programme Underway

Patersons Range, Western Australia

Wishbone Gold Plc (AIM: WSBN, AQSE: WSBN), is pleased to announce that Independent Consultants have advised of the benefits of a more detailed geochemistry sampling programme at Red Setter prior to drilling. This is based on recent results from companies in the Patersons Range, and will look at the entire Red Setter Project area in order to refine the locations of the first planned drill holes and potentially to identify further targets on the 57.4 km² 

The sampling programme is underway and is expected to take around 20 days. The Red Setter Project is located only 13 km south-west of the Telfer Gold Mine and about 25 km south-west from the Newcrest / Greatland Gold Havieron deposit in the Patersons Range of Western Australia.

The current programme underway is to be undertaken using Ionic Leach^TM a technique using partial digest assaying by ALS Global Laboratories, and comparable to MMI. Ionic Leach however has a shorter turn-around time of 4 weeks and has been used by several companies successfully in the Patersons Range and elsewhere with targets covered by extensive sedimentary cover. The tenement wide Ionic Leach sampling programme will be on a 400m x 100m spacing, totalling 1,400 samples.

As previously announced, Wishbone has obtained approval from the Western Australian Government's Department of Mines, Industry Regulation and Safety ("DMIRS") to drill up to 30,000 metres at Red Setter. Detailed access, logistics and drill site planning is in progress and will form part of the long-term access agreements for the Company's long term exploration efforts.

Richard Poulden, Wishbone Gold's Chairman, commented, "Recent Geological exploration experience by companies operating in the Patersons Range region have highlighted the benefits of conducting detailed surface geochemical programmes over blind magnetic and gravity targets to improve focus on prime targets for drilling. We know from the magnetics at Red Setter, that we have an excellent set of targets at depths starting at just under 150m metres over about 3 square kilometres. What we are aiming to achieve here is to derive a gold / copper Geochem "heat map" on the surface that coincides with the targets at depth to ascertain the best areas to commence drilling and potentially also identify new targets.  Previously, our exploration efforts have focused mainly over a small part of the tenement centred around the magnetic targets."

Competent Persons Statement:

The Information in this report that relates to exploration results, mineral resources or ore reserves is based on information compiled by Mr Edward Mead, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Mead is a consultant to the company and employed by Doraleda Pty Ltd. Mr Mead has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the `Australian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves' (the JORC Code). Mr Mead consents to the inclusion of this information in the form and context in which it appears in this report.

For more information on Wishbone, please visit the Company's website.

www.wishbonegold.com .

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For further information, please contact:

Wishbone Gold PLC
Richard Poulden, Chairman	Tel: [phone]
Beaumont Cornish Limited
(Nominated Adviser and AQUIS Exchange Corporate Adviser)
Roland Cornish/Rosalind Hill Abrahams	Tel: [phone]
Peterhouse Capital Limited
(Broker)
Lucy Williams and Duncan Vasey	Tel: [phone]

 

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