TIDMWSBN
RNS Number : 2625C
Wishbone Gold PLC
17 June 2021
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 as it forms part of
UK domestic law by virtue of the European Union (Withdrawal) Act
2018 ("MAR")
Please click the following link to view the figures and
illustrations included in the below announcement:
https://wishbonegold.com/images/2021/06/WSBN_RNS_210617_SB_Presentation_on_Halo_0kaq.pdf
17 June 2021
Wishbone Gold Plc
("Wishbone" or the "Company")
Wishbone Gold Plc / Index: AIM: WSBN / Sector: Natural Resources
/ AQSE: WSBN
WISHBONE'S HALO GOLD PROJECT
Dr Simon Beams Presentation at AusIMM Conference
Terra Search's Advanced Geological and Magnetic studies find
similarities at Wishbone's Halo Project to the nearby 5 Million
Ounce Ravenswood Gold/ Copper Mine
Wishbone Gold Plc (AIM: WSBN, AQSE: WSBN), today provides the
presentation that Dr Simon Beams, Terra Search Pty Ltd's ("Terra
Search") Managing Director and Principal Geologist discussed at the
AusIMM Roundup Conference in Cairns Australia on the 27 May
2021.
Dr Beams' presentation was based on the current exploration
Wishbone has been conducting which included high resolution ground
magnetics (Figure 1) and surface sampling and mapping.
Figure 1: High resolution ground magnetics at Halo - click above
link to view
The presentation slides can be accessed on the Company's website
at
https://wishbonegold.com/images/2021/06/WSBN_Beams_FNQ_Cairns_AusIMM_210527_9m2l.pdf
To accompany the slides presented to Conference, Dr Beams
confirmed that recent geochemical and ground magnetic results at
Wishbone Gold's Halo Prospect in northern Queensland, Australia,
compares very favourably to the geological setting and geochemical
association of the nearby Ravenswood Gold Deposit (total production
of 5 million plus ounces gold). These conclusions were reached by
using new analytical techniques to reprocess historic data as well
as adding new exploration work over the last 12 months.
Terra Search's recent geological prospecting on site at Halo and
following up of prospective structures on the ground, has returned
highly encouraging results for the overall Halo area.
Recent rock-chip sampling by Terra Search returned high gold
values ranging from 0.5 grams per tonne gold ("g/t Au") up to a
27g/t Au at Grassy Creek (One Mile Hill) plus copper ("Cu") values
ranging from 0.1% Cu to 3.3% Cu and silver ("Ag") values ranging
from 40 g/t Ag up to 145 g/t Ag.
Halo's copper bearing greisen rocks returned significant values
ranging from 1% Cu to 3.3% Cu with peripheral zones at Halo in
tonalite ranging from 0.1% Cu to 1.2% Cu. These confirm similar
copper in rock chip values returned from previous Wishbone sampling
over a wide area at the Halo prospect. (Figure 2)
Figure 2: High Grade copper veining found on Halo - click above
link to view
Terra Search also reported that the north west trending
gossanous structure at Halo West returned anomalous to very high
Cu, Pb, Zn, As, Bi, Cd, Te, plus high Fe. For example, 1000ppm to
5900 ppm Bi, 1500 to 8000 ppm As, 1200 ppm to 3500 ppm Cu, 0.35% to
2.7% Pb, 0.1% to 0.22% Zn, 0.1g/t to 0.37 g/t Au, along with
detectable Te of 10 ppm to 80 ppm Te, It is to be noted that this
element suite is indicative in the district of Permo-Carboniferous
intrusive related gold signatures.
These results are very encouraging in terms of highlighting the
prospectivity of Halo structures and other strong magnetic linears
with similar trends.
The geological setting of Halo has many direct comparisons to
the Ravenswood Town area, site of 5 million plus gold ounce
production.
The key similarities to Ravenswood are:
-- A large body of Silurian Tonalite intruded into a composite
Ordovician batholith of various composition granitic bodies.
-- At both areas, a range of mafic diorites and gabbros are marginal to the tonalite.
-- Major structures and faults chop up the tonalite and
surrounding country rock. Felsic bodies of probable Silurian,
microgranite to aplitic granite composition, are small fractionated
derivative bodies of the tonalite.
-- Hydrothermal phyllic or sericitic alteration is associated with these felsic bodies.
-- Younger mafic dacite to andesitic dykes cut the older rocks.
At Ravenswood, these dykes have been age dated and are interpreted
as very close to the Carboniferous age of gold mineralization.
-- At Halo there is a possibility that two different mineralized
intrusive systems may be present. The copper dominated sericite
alteration at Halo could represent a different system to the
andesite dyke - gossanous vein structures which have a more complex
chemical association characterized by Cu-Zn-As-Bi-Te-Ag.
Richard Poulden, Wishbone Gold's Chairman, commented, "These are
extremely encouraging results and we are honoured that Dr Beams
chose to use Wishbone data for his presentation at the AusIMM
Conference last month. We are looking forward to continuing the
exploration and further preparing for the drilling campaign"
About Wishbone's Wishbone Projects - Queensland Australia
As previously reported regarding Wishbone II, high-grade surface
rock-chip samples with assays at surface up to 25.2 grams per tonne
gold ("g/t Au") at the Hanging Valley prospect have been recorded
and 7.32 g/t Au were recorded at the Oaky Mill prospect on the
licence.
The Wishbone Projects are a sizeable 14,700-hectare 100% owned
group of Exploration Licences in the Mingela area located about
80km south of the major Queensland port city of Townsville. As
previously reported by the Company, the area is bounded by a large
shear zone structure along which historical gold mineralisation has
been encountered.
The Wishbone II project is situated between two producing gold
projects, Charters Towers Gold Project to the west and Ravenswood
to the east.
Full technical details and news releases on the Wishbone II
assets can be viewed on the Company's website at
https://wishbonegold.com/ .
For more information on Wishbone, please visit the Company's
website.
www.wishbonegold.com .
END
For further information, please contact:
Wishbone Gold PLC
Richard Poulden, Chairman Tel: +44 7551 863
830
Beaumont Cornish Limited
(Nominated Adviser and AQUIS Exchange
Corporate Adviser)
Roland Cornish/Rosalind Hill Abrahams Tel: +44 20 7628
3396
Peterhouse Capital Limited
(Broker)
Lucy Williams and Duncan Vasey Tel: +44 20 7469
0930
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END
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June 17, 2021 06:19 ET (10:19 GMT)
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