TIDMWSBN
RNS Number : 9345W
Wishbone Gold PLC
23 August 2022
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
23 August 2022
Wishbone Gold Plc
("Wishbone" or the "Company")
Wishbone Gold Plc / Index: AIM: WSBN / Sector: Natural Resources
/ AQSE: WSBN
Option to acquire 100% of Anketell Gold Copper Project
Secured
Patersons Range, Western Australia
Wishbone Gold Plc (AIM: WSBN, AQSE: WSBN), is pleased to
announce it has taken an option on an additional highly prospective
gold-copper project. The Anketell Gold-Copper Project (Figure 1 and
2) is located 85km north of the Company's Red Setter Gold-Copper
Project in the Patersons Range area in Western Australia.
Wishbone has signed an exclusive 90 day option to acquire the
Anketell Project and has agreed to pay the vendors an option
payment GBP25,000. Wishbone has already commenced due diligence on
the project and will complete this during the 90-day option period.
Assuming that Wishbone proceeds to acquire the project, Wishbone
will pay cash consideration to the vendors (being Mining Equities
Pty Ltd and David Lenigas) of GBP50,000 and issue the vendors
2,170,795 new ordinary shares (Acquisition Shares) at a deemed
issue price of 14.75p being the mid-market price yesterday when the
deal was agreed. This equates to GBP320,192.26.
Highlights:
-- Secured through heavily contested ballot between seven
companies including Greatland Gold PLC and FMG Metals Group Ltd
-- Antipa- Rio Tinto JV Ground surrounds tenure to north and
west and FMG Metals Group Ltd to the south
o Antipa Citadel Project Farm in by Rio ($60M to earn 75% of
Project)
-- Located 80km to the north of Newcrest's Telfer
Gold-Copper-Silver Mine and 40km to the east-south-east of Rio
Tinto's Winu discovery
-- Late-stage intrusion interpreted as covering an area of 1.1 x 1 km
o Inversion modelling underway to define geometry and extent of
intrusion
o Diffuse boundary response of contact with intrusion
interpreted as being alteration
o Intrusion associated with west north westerly faulting
-- Recent (Permian) sediments obscure underlying geology, with thickness less than 100 metres
-- Target has not been tested by drilling
Richard Poulden, Wishbone Gold's Chairman, commented, "We are
very pleased to have secured this hotly contested project and to be
expanding our presence in the Patersons Range region of Western
Australia. We are in the centre of active exploration by large
companies which have had success. Anketell has a discrete bullseye
magnetic feature, that is similar to other known mineralised
features in the district."
The Anketell Project is located 80km to the north of Newcrest's
Telfer Gold-Copper-Silver Mine and 40km to the east-south-east of
Rio Tinto's Winu discovery within the highly prospective Paterson
Province.
The Project consists of a single exploration licence application
E45/ 6198 covering an area of 10km(2) . The application was subject
to a ballot between seven companies including Greatland Gold PLC
and FMG Metals Group Ltd.
The Project is located within the northeast portion of the
Proterozoic Paterson Province. Basement geology is dominated by the
late Proterozoic Yeneena Supergroup which unconformably overlies
the earlier Proterozoic Rudall Metamorphic Complex and the Archaean
Pilbara Craton.
The Yeneena Supergroup has been intruded by Proterozoic (650 -
620Ma) granitoids of the Minyari and Mt Crofton Suites. The Mt
Crofton Suite represent fractionated I-Type granites, being largely
undeformed, weakly oxidized and magnetite - ilmenite bearing. High
background uranium and thorium contents are also reported from the
Suite. The Minyari Suite is less fractionated and rarely appears
magnetic.
Permian fluvio-glacial Paterson Formation sediments (less than
100m thick within the Project leases) unconformably overly the
Proterozoic stratigraphy. These Permian sediments extend into the
Canning Basin further to the east.
Significant gold, copper and uranium mineralisation has been
discovered in the Paterson Province with two world class deposits
(Telfer and Nifty) currently being mined, with the latest world
class discoveries of Havieron and Winu advancing towards
mining.
The 26Moz Telfer Gold Mine is located within 15km of outcropping
Mt Crofton I-Type granite rocks. Stratigraphically the deposit is
hosted by the Telfer Formation, an intercalated sandstone and
siltstone sequence, sandwiched between the Puntapunta Formation and
the underlying Malu Quartzite. The Formation is exposed within two
doubly plunging anticlines termed the Main and West Domes.
Mineralisation is epigenetic and occurs within quartz-sulphide
carbonate saddle reefs and stockwork in prepared dilational sites
caused by flexural slip along rheologically contrasting bedding
planes within the Telfer Formation.
The Nifty Copper Mine (1 Mt copper metal) is situated 70km west
of Telfer. Mineralisation is epigenetic and stratabound, hosted by
silicified carbonate and shale near the base of the Broadhurst
Formation.
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.
END
For further information, please contact:
Wishbone Gold PLC
Richard Poulden, Chairman Tel: +971 4 584
6284
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
Figure 1: Anketell Gold Copper Project location, highlighted in
white box
Figure 2: Total Magnetic Intensity image, with tenement boundary
in white and interpreted late-stage intrusive target circled in
red. Note the gold and silver mineralisation on a similar magnetic
feature (held by Greatland) 5km to the north-west of the project
area.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ACQKXLBLLVLEBBQ
(END) Dow Jones Newswires
August 23, 2022 06:01 ET (10:01 GMT)
Wishbone Gold (AQSE:WSBN)
過去 株価チャート
から 11 2024 まで 12 2024
Wishbone Gold (AQSE:WSBN)
過去 株価チャート
から 12 2023 まで 12 2024
