Wishbone Gold PLC Mineralised Base Metal System Confirmed- Cottesloe (0170S)
2023年11月1日 - 5:07PM
RNSを含む英国規制内ニュース (英語)
TIDMWSBN
RNS Number : 0170S
Wishbone Gold PLC
01 November 2023
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
1(st) November 2023
Wishbone Gold Plc
("Wishbone" or the "Company")
Confirmation of Mineralised Base Metal System at Cottesloe from
Pre Collar Assays
Paterson Range, Western Australia
Wishbone Gold Plc (AIM: WSBN, AQSE: WSBN), announces results of
the pre collar Reverse Circulation ("RC") drilling at its Cottesloe
Project. Cottesloe is considered highly prospective for precious
and base metals. This announcement follows on from the 18 September
announcement and provides further analysis of the RC drilling
referred to therein and is a precursor to the Diamond drilling
programme as referred to in the 12 October announcement which is
expected to commence shortly.
Preliminarily drilling indicates the relevance of Esso's drill
data which included 0.25% Copper (Cu), 4.6% Lead (Pb), 0.97% Zinc
(Zn) 165 g/t Silver (Ag) and 0.26% Cobalt (Co), as announced by the
Company on 27(th) April 2023.
Richard Poulden, Wishbone Gold's Chairman, commented:
"These assay results from the RC drilling are encouraging as we
are yet to hit the target mineralisation zone. With electric
vehicle battery metals increasingly important it is great to have a
project with potential like this. We are now preparing for the
diamond drilling program as announced on 12(th) October to get
underway which is partially funded by the Western Australian
Government. The potential scale of Cottesloe and these promising
drilling results merit the future exploration of this area and we
look to the future with confidence."
Highlights:
-- Encouraging results from the first stage RC pre-collar drilling program.
o Results include anomalous zones within pyritic shale horizons
up to 4684 g/t Zinc (Zn) and 1880 g/t Cobalt (Co). Elevated Lead
(Pb) to 577 g/t and up to 13 g/t Ag were also returned.
-- Strong Zinc and Cobalt anomalism in pre collar hole
23CTRC0005 within weathered sulphidic shales with 1400 g/t Zn, 243
g/t Co over 78m from 12m depth. This includes 6m at 3500 g/t Zn and
1300 g/t Co from 50m. The above had support of Silver (Ag),
Manganese (Mn) and Phosphorus (P) which are all good indicators of
a base metal hydrothermal system.
-- The level of anomalous values is consistent with the
development of a significant basin related hydrothermal system
consistent with a sediment hosted base metal deposit. The geology
includes prospective stratigraphy including thick sulphide rich
zones and the presence of anomalous pathfinders such as Mn, Ba and
P is also highly encouraging.
-- Diamond drilling to start in the coming weeks.
-- Diamond drilling costs are to be 50% funded by the Western
Australian Government's EIS scheme up to a total of $220,000 of
direct drilling costs.
-- Nifty mineralisation style is being targeted at Cottesloe.
Nifty has produced more than 700Kt of copper metal with a further
940Kt in resource.
Comments on Reverse Circulation pre-collar drilling at
Cottesloe:
Results from the first stage pre collar program completed in
September have now been received. The program included 2 holes,
23CTRC001 and 23CTRC005, which encountered zones with pyritic black
shales in both holes. 23CTRC001 intersected pyrite over a wide zone
from 72-148m with the zone from 112-121 metres showing the
strongest sulphide zone. This zone showed anomalous base metals and
Manganese (Mn), Phosphorus (P) and Nickel (Ni). 23CTRC005
intersected pyritic shales towards the base of the weathered zone
(89-90m) within partly ferruginous clays interpreted to be
weathered pyritic shales from 12m. The best intercept was:
-- 78m @ 1400g/t Zn and 243 ppm Co from 12m in 23CTRC0005 incl
6m @ 3500 g/t Zn and 1300 g/t Co from 50m
There was also stronger pyrite within black shales from
124-145m, with disseminated pyrite throughout the hole. This zone
also had highly anomalous Zinc.
The limited information gained to date is highly encouraging
with a thick zone of anomalous sulphidic shales present in both
holes, confirming the overall exploration model for a major
sediment hosted system.
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
SP Angel Corporate Finance LLP
(Broker)
Ewan Leggat / Kasia Brzozowska Tel: +44 20 3470 0470
Soho Communications Ltd
(Financial PR)
George Hudson Tel: +44 7803 603130
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.
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END
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(END) Dow Jones Newswires
November 01, 2023 04:07 ET (08:07 GMT)
Wishbone Gold (AQSE:WSBN)
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