TIDMWSBN
RNS Number : 5234J
Wishbone Gold PLC
13 December 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
13 December 2022
Wishbone Gold Plc
("Wishbone" or the "Company")
Wishbone Gold Plc / Index: AIM: WSBN / Sector: Natural Resources
/ AQSE: WSBN
Confirmation of Hydrothermal Gold and Copper System
Gold Grades (Au) up to 6.4g/t and Copper (Cu) over 2.27%
Red Setter Project, Patersons Range, Western Australia
Wishbone Gold Plc (AIM: WSBN, AQSE: WSBN), is pleased to
announce positive first assay results from the maiden drilling
program at the Company's Red Setter Gold-Copper Project in the
Patersons Range area in Western Australia.
Initial assay results have confirmed the geological observations
of a broad hydrothermal system with gold and copper associated with
quartz-carbonate-sulphide veins (Figure 3) present within all
lithology types, and often with breccia textures (Figures 4, 5 and
6).
A recently completed gravity survey (Figure 1 and 2) combined
with the previously completed magnetic survey, indicates the scale
of the hydrothermal system with structures extending over a strike
in excess of 3km, with depths ranging from 50m->2,000m.
Mineralisation shows similarities to the Telfer system 13km to
the Northeast of the prospect (Figure 7). Higher grade assays and
wide intercepts received so far include:
-- 14m at 1.0g/t Au and 0.2% Cu from 266m in WRSDD0008
Including 7m at 2g/t Au and 0.38% Cu from 273m
And 1m at 6.4g/t Au and 0.69% Cu from 273m
-- 25m at 0.28g/t Au and 0.11% Cu from 195m in WRSDD0006
Including 1m at 5.4g/t Au and 0.26% Cu from 198m
-- 3m at 0.18g/t Au and 0.82% Cu from 166m in WRSDD0006
Including 1m at 0.27 g/t Au and 2.27% Cu from 166m
-- 1m at 6.48g/t Au and 15 ppm Cu from 246m in WRSDD0009
-- 10m at 0.48g/t Au and 0.03% Cu from 117m in WRSDD0011
Including 1m at 3.2g/t Au and 0.06% Cu from 122m
Richard Poulden, Wishbone Gold's Chairman, commented;
"We are extremely happy to have hit a mineralised system at Red
Setter, with some initial wide spaced drill holes intersecting gold
and copper mineralisation, over a current strike length of 2km.
This remains open in all directions and indicates significant
potential for size and scale. Every hole drilled so far has
returned mineralised core indicating a broad hydrothermal system
that has similarities to the 15moz Telfer gold system 13km to the
north east."
"I am also pleased to announce that an airborne Mobile MT
geophysical survey is currently underway. The survey looks for
sulphide enrichment and will assist with target refinement for
further drilling as we look to pinpoint the core of the
system."
To date, 15 Diamond holes and one water bore have been completed
for a total of 6,348m (Figure 2). Drilling was concentrated in the
main magnetic anomaly area with 12 holes (1 hole has assays
pending) with 3 holes drilled into the Northern magnetic target
(assays pending). These initial 2 priority target areas were first
drilled based on magnetic data, and then refined on information
gained from a ground gravity survey, with geochemical targets yet
to be assessed. The targets sit below 50-80m of sedimentary cover,
which is significantly less than many targets in the province.
Gold results have been received for the first 11 drillholes
along with preliminary pXRF results for Cu and a wide suite of
minerals. A full list of significant intercepts is provided in
Table 1. The Copper results are being confirmed for all samples
returning greater than 500 ppm Cu and where chalcopyrite was
observed using a 4 acid digest and OES finish. Results on these are
expected in the next few weeks.
Assay results are highly encouraging with broad areas of results
> 0.1 g/t Au (Fire Assay) and/or 0.1% Cu (pXRF) with anomalous
zones in all holes to date. These levels of gold and copper confirm
the presence of a large hydrothermal system over a strike length of
at least 2km and a width of 400m. The integration of these results
with the geological knowledge gathered and the geophysics results
will help in defining the vectors to further mineralisation.
The extensive zones of mineralisation include quartz-carbonate
sulphide veins with albitic alteration (Figures 3 - 6). Sulphides
are pyrite-chalcopyrite with rare pyrrhotite, bornite and
arsenopyrite. Initial geological interpretations based on the
drilling and the geophysics indicate that the mineralisation is
within a broad anticlinal structure with a north-east dipping,
diorite intrusive dykes subparallel to the axis of the
anticline.
A geophysical airborne mobile MT survey is currently underway,
with the aim of mapping the conductivity of the entire Red Setter
licence. This can potentially identify areas of higher sulphide
content. This program has been brought forward due to the
mineralisation identified to date, similarities to Telfer, and the
availability of the survey system before it departs Australia. The
system has been used successfully by other operators in the
Patersons and was recommended by Southern Geoscience
Consultants.
The Red Setter Project is situated on the 57.4km(2) wholly owned
exploration licence EL45/5297 and is located 13 km south-west of
Newcrest Mining's Telfer Gold-Copper Mine and 60km west of Newcrest
and Greatland Gold's Havieron gold-copper discovery (Figure 8).
For more information on Wishbone, please visit the Company's
website.
www.wishbonegold.com .
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
Competent Persons Statement
The information in this report that relates to the reporting of
exploration results has been compiled by Mr David Jenkins, a full
time employee of Terra Search Pty Ltd, geological consultants
employed by Wishbone Gold PLC. Mr Jenkins is a Member of the
Australian Institute of Geoscientists and has sufficient experience
in the style of mineralisation and type of deposit under
consideration and the activity which they are undertaking to
qualify as Competent Persons as defined in the 2012 Edition of the
Australasian Code for Reporting of Exploration Results, Minerals
Resources and Ore Reserves ("JORC Code"). Mr Jenkins consents to
the inclusion in the report of the matters based on the information
in the form and context in which it appears.
Figure 1 : 3D model of Gravity inversion showing the scale of
multiple underground anomalies over 2km strike
Figure 2: Drillhole locations and summary of results to date,
with magnetic and gravity anomalies
Figure 3 : Mineralisation quartz-carbonate-sulphide vein
WRSDD0006 395-396m - 5.29 g/t Au 0.06% Cu
Figure 4: Mineralised core WRSDD0008 276.25m with 1.37g/t Au and
0.72% Cu
Figure 5 : Mineralised core WRSDD0006 166.5-166.8m 0.27 g/t Au
and 2.27% Cu
Figure 6 : Core showing Au at 6.44g/t and Cu 0.70%
Figure 7 : Example of Quartz-carbonate sulphide reef in drill
core at Telfer (Source: Mike Porter 2019, Website:
http://portergeo.com.au/database/mineinfo.asp?mineid=mn224 )
Figure 8 : Regional setting Red Setter Project
Table 1: Best intercepts summary, Wishbone 2022
Hole ID From To Width Au g/t Cu %
WRSDD0003 352.00 353.00 1 0.02 0.12
------- ------- ------ ------- -----
WRSDD0003 362.00 363.00 1 0.01 0.12
------- ------- ------ ------- -----
WRSDD0003 364.00 365.00 1 0.17 0.04
------- ------- ------ ------- -----
WRSDD0003 367.00 368.00 1 0.16 0.01
------- ------- ------ ------- -----
WRSDD0003 377.00 378.00 1 0.38 0.01
------- ------- ------ ------- -----
WRSDD0003 383.00 384.00 1 0.20 0.03
------- ------- ------ ------- -----
WRSDD0003 395.00 398.00 3 0.31 0.07
------- ------- ------ ------- -----
WRSDD0003 408.00 409.00 1 0.16 0.01
------- ------- ------ ------- -----
WRSDD0003 413.00 415.00 2 0.19 0.26
------- ------- ------ ------- -----
WRSDD0003 457.00 458.00 1 0.28 0.00
------- ------- ------ ------- -----
WRSDD0003 465.00 466.00 1 0.18 0.00
------- ------- ------ ------- -----
WRSDD0003 485.00 486.00 1 0.04 0.12
------- ------- ------ ------- -----
WRSDD0003 494.00 496.00 2 1.44 0.02
------- ------- ------ ------- -----
incl 494.00 495.00 1 2.54 0.02
------- ------- ------ ------- -----
WRSDD0004 116.00 119.00 3 0.24 0.00
------- ------- ------ ------- -----
WRSDD0004 165.00 166.00 1 0.78 0.05
------- ------- ------ ------- -----
WRSDD0004 317.00 318.00 1 1.26 0.04
------- ------- ------ ------- -----
WRSDD0005 218.00 221.00 3 0.10 0.03
------- ------- ------ ------- -----
WRSDD0005 225.00 226.00 1 0.21 0.07
------- ------- ------ ------- -----
WRSDD0005 251.00 252.00 1 0.25 0.03
------- ------- ------ ------- -----
WRSDD0006 190.00 191.00 1 0.17 0.04
------- ------- ------ ------- -----
WRSDD0006 195.00 220.00 25 0.28 0.11
------- ------- ------ ------- -----
Incl 198.00 199.00 1 5.44 0.26
------- ------- ------ ------- -----
WRSDD0006 229.00 230.00 1 0.39 0.01
------- ------- ------ ------- -----
WRSDD0006 273.00 276.00 3 0.03 0.25
------- ------- ------ ------- -----
Hole ID From To Width Au g/t Cu %
------- ------- ------ ------- -----
WRSDD0006 293.00 299.00 6 0.11 0.07
------- ------- ------ ------- -----
WRSDD0006 310.00 312.00 2 0.24 0.06
------- ------- ------ ------- -----
WRSDD0006 323.00 324.00 1 0.21 0.07
------- ------- ------ ------- -----
WRSDD0006 327.00 328.00 1 0.24 0.03
------- ------- ------ ------- -----
WRSDD0006 395.00 398.00 3 1.98 0.04
------- ------- ------ ------- -----
incl 395.00 396.00 1 5.29 0.06
------- ------- ------ ------- -----
WRSDD0007 92.00 93.00 1 0.18 0.00
------- ------- ------ ------- -----
WRSDD0007 98.00 103.00 5 0.13 0.04
------- ------- ------ ------- -----
WRSDD0008 107.00 109.00 2 0.41 0.01
------- ------- ------ ------- -----
WRSDD0008 122.00 123.00 1 0.12 0.00
------- ------- ------ ------- -----
WRSDD0008 165.00 167.00 2 0.24 0.06
------- ------- ------ ------- -----
WRSDD0008 171.00 175.00 4 0.18 0.11
------- ------- ------ ------- -----
WRSDD0008 190.00 192.00 2 0.05 0.18
------- ------- ------ ------- -----
WRSDD0008 251.00 251.50 0.5 0.12 0.02
------- ------- ------ ------- -----
WRSDD0008 266.00 280.00 14 1.08 0.22
------- ------- ------ ------- -----
Incl 273.00 280.00 7 2.00 0.38
------- ------- ------ ------- -----
incl 273.00 274.00 1 6.42 0.70
------- ------- ------ ------- -----
incl 279.00 280.00 1 5.01 0.74
------- ------- ------ ------- -----
WRSDD0009 72.00 76.00 4 0.31 0.13
------- ------- ------ ------- -----
WRSDD0009 80.00 82.00 2 0.25 0.00
------- ------- ------ ------- -----
WRSDD0009 136.00 137.00 1 0.17 0.04
------- ------- ------ ------- -----
WRSDD0009 156.00 160.00 4 0.30 0.15
------- ------- ------ ------- -----
incl 156.00 157.00 1 1.12 0.03
------- ------- ------ ------- -----
WRSDD0009 166.00 169.00 3 0.18 0.82
------- ------- ------ ------- -----
incl 166.00 167.00 1 0.27 2.27
------- ------- ------ ------- -----
WRSDD0009 246.00 247.00 1 6.49 0.00
------- ------- ------ ------- -----
WRSDD0010 74.00 75.00 1 0.04 0.13
------- ------- ------ ------- -----
WRSDD0010 88.00 89.00 1 0.74 0.11
------- ------- ------ ------- -----
WRSDD0010 96.00 97.00 1 0.15 0.00
------- ------- ------ ------- -----
WRSDD0010 107.00 108.00 1 0.13 0.00
------- ------- ------ ------- -----
WRSDD0010 122.00 123.00 1 0.10 0.00
------- ------- ------ ------- -----
WRSDD0011 76.00 77.00 1 0.24 0.01
------- ------- ------ ------- -----
WRSDD0011 117.00 127.00 10 0.44 0.03
------- ------- ------ ------- -----
incl 122.00 123.00 1 3.20 0.06
------- ------- ------ ------- -----
WRSDD0011 137.00 138.00 1 0.16 0.01
------- ------- ------ ------- -----
WRSDD0011 147.00 148.00 1 0.19 0.00
------- ------- ------ ------- -----
WRSDD0011 151 153 2 0.53 0.01
------- ------- ------ ------- -----
WRSDD0012 141 143 2 0.07 0.15
------- ------- ------ ------- -----
WRSDD0012 165 166 1 0.17 0.00
------- ------- ------ ------- -----
WRSRCD0002 214 215 1 0.17 0.01
------- ------- ------ ------- -----
WRSRCD0002 257 258 1 0.17 0.00
------- ------- ------ ------- -----
WRSRCD0002 270 271 1 0.20 0.01
------- ------- ------ ------- -----
WRSRCD0002 302 303 1 0.16 0.00
------- ------- ------ ------- -----
WRSRCD0002 326 327 1 0.30 0.01
------- ------- ------ ------- -----
WRSRCD0002 335 337 2 0.48 0.04
------- ------- ------ ------- -----
WRSRCD0002 368 369 1 0.10 0.00
------- ------- ------ ------- -----
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