8th May 2025 07:00
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
8 May 2025
Wishbone Gold Plc
("Wishbone" or the "Company")
New gold targets identified at Mosquito Creek Crescent Project,
Pilbara Region, Western Australia
Wishbone Gold Plc (AIM: WSBN, AQSE: WSBN), is pleased to report that an extensive geological review of the prospective tenements at its Crescent Gold Project in the Mosquito Creek region of Western Australia has identified eleven (11) fresh gold targets that require further on-ground investigation.
Highlights:
· New gold exploration opportunities identified for follow-up exploration at the Crescent Gold Project in Western Australia
· 11 priority targets
· As previously reported by RNS dated 22 November 2023, the tenements are well endowed with gold, and samples from within the project area of reported rock chip results include:
o 95.5 g/t gold, 91.8g/t, 117 Au (800284 original + 2 repeat assays)
o 5.83 g/t Au (610058)
o 4.71 g/t Au: (610059)
o 4.33 g/t Au (610060)
Richard Poulden, Wishbone Gold's Chairman, commented:
"Our Crescent Gold Project near Nullagine has always showed a great deal of promise. It is another excellent gold project to advance which will complement our efforts to drill the main target at the Red Setter Dome. We are sending independent exploration consultants to assess the Crescent target's potential for shear hosted gold mineralisation which is common in the area and will advise next steps as they become finalised."
About the Crescent Gold Project, Nullagine, Western Australia
The 100% owned, 157 sq km Crescent Gold Project (the "Project"), is in the prolific gold area of Mosquito Creek, in the Pilbara region of Western Australia. It is located 260km south-east of Port Headland, the main port for the region.
The Project consists of two granted exploration licences E46/1463 and E46/1464 and one exploration licence application E46/1294, as per Figure 1.
E 46/1463 (Granted) has tenement expenditure of $23k pa and expires on the 16/3/2028 and can be renewed. E 46/1464 (Granted) has tenement expenditure of $20k pa and expires on the 20/3/2028 and can be renewed.
Figure 1: Tenement Map
Mineralisation within the Nullagine region is strongly structurally controlled. There are some highly chloritic +/- sulphides zones within a shear zone, others are ferruginous quartz vein zones within more finite fault structures. A characteristic of all is the strong plunging shoot nature of the mineralisation within the structure and the typically short strike lengths of the mineralised shoot. The host structure may extend over multiple 100 metres and possibly kilometres, but many mineralised shoots may only be tens of metres long.
Thus, if a mineralised trend/structure is identified it needs to be sampled initially to identify the extent of potentially mineralised zones and then to define the location of the mineralised shoots prior to drilling.
Open file regional sampling by multiple parties has shown potential targets within the Crescent Gold project tenements. Virtually all sampling has been on north-south lines 800m apart to identify any anomalous trends.
Figure 2: Compilation of all Regional geochemical sampling with interpreted trends
Interpretation of these results suggests the potential for numerous mineralised structures within the project area which have not been closely evaluated.
A deposit of economic interest could easily exist between the wide spaced sample lines. A significant trend showing anomalous responses occurs in the southern E46/1464 with a coherent trend in a NW-SE direction traceable for approximately 4.5km which requires closer investigation. Approximately 300m of this strike length has been drill tested.
An area within E46/1463 of 4km x 4km has not been sampled with 2 separate areas adjacent to but outside the tenement.
The area west of the Eastern Creek mining area shows some anomalous responses along a NE-SW trend consistent with the mining activity in Eastern Creek. The sampling however in this area has not been systematic and is an area requiring further investigation.
END
For more information on Wishbone, please visit the Company's website.
www.wishbonegold.com.
For further information, please contact:
Wishbone Gold PLC |
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Richard Poulden, Chairman |
Tel: +971 4 584 6284 |
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Beaumont Cornish Limited |
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(Nominated Adviser and AQUIS Exchange Corporate Adviser) |
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Roland Cornish/Rosalind Hill Abrahams | Tel: +44 20 7628 3396 |
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Tavira Financial Limited |
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(Broker) |
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Chris Kipling | Tel: +44 20 3833 3742 |
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Soho Communications Ltd |
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(Financial PR) |
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George Hudson | Tel: +44 7803 603130 |
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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 Fellow 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.
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.
Related Shares:
Wishbone