Wishbone Gold PLC New Tenement Application - Queensland, Australia (1053H)
01 Diciembre 2020 - 5:07AM
UK Regulatory
TIDMWSBN
RNS Number : 1053H
Wishbone Gold PLC
01 December 2020
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 ("MAR")
Please click the following link to view the figures and
illustrations included in the below announcement:
https://wishbonegold.com/images/2020/12/WSBN_RNS_New_Tenement_Application_5tng201201.pdf
1 December 2020
Wishbone Gold Plc
("Wishbone" or the "Company")
Wishbone Gold Plc / Index: AIM: WSBN / Sector: Natural Resources
/ AQSE: WSBN
NEW TENEMENT APPLICATION - QUEENSLAND, AUSTRALIA
Wishbone Gold Plc (AIM: WSBN), the London listed precious metals
trading and exploration company, is pleased to announce that it has
applied for a new exploration licence to the South and West of the
Company's Wishbone licences in northern Queensland, Australia,
which increases the land tenure in this exciting gold region to 208
km(2) .
This new tenement, covering an area of 61.2 km(2) is located
only 15 km north-west of the Ravenswood Gold Mine, which was
recently sold by Resolute Mining in a deal worth AUD $300 million,
after Resolute successfully mined and processed over 40 million
tonnes of ore in the past 15 years and produced almost two million
ounces of gold.
The new exploration licence application, covering 19 full blocks
has been accepted by the Queensland Government Department of
Natural Resources, Mines and Energy and this new tenement has been
assigned a reference number 10007613 and has been designated as
EPMA "Wishbone 6".
Figures 1 and 2 show that the area of interest in the EPM
application (EPMA) ID: 10007613 'Wishbone 6' is adjacent to
Wishbone Gold's tenement package in the Mingela region represented
by the granted EPMs 18396, 19633,19696.
The Company's exploration consultants in Australia, Terra Search
Pty Ltd, advise that there are mineral occurrences and historic
gold mining districts in the south at the Kirk Goldfield and
extending into the EPMA as the Himalaya North lode system and at
the north at the Grass Hut Goldfield with one of the major mines
the City of Melbourne occurring within the EPMA.
Richard Poulden, Wishbone Gold's Chairman, commented.
"This is a strategic extension to the southern end of the
Wishbone II EPM which our consultants believe should be
incorporated in our exploration program. The EPM should be fully
granted by the end of the first quarter 2021 and that is when
exploration can begin "
About the Current Wishbone Prospects:
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 II, III and IV Projects are a sizeable 14,700
hectare (147 km(2) )100% owned group of Exploration Permits 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 gold projects,
Charters Towers Gold Project to the west and Ravenswood to the
south-east, the latter gold project was recently sold for a
financial package of AUD 300 million. These have combined Au
endowment (historical production and resources) of over 10million
(Au) ounces.
Full technical details and news releases on the White Mountains
and Wishbone II assets can be viewed on the Company's website at
https://wishbonegold.com/.
Figure 1: Location map. Wishbone VI EPMA in relation to other
EPMs held by Wishbone Gold Pty Ltd Mingela area, North Queensland.
- - see above PDF link to view
Figure 2: Location of EPMA Wishbone VI in relation to historical
mineral occurrences in the district and other EPMs held by Wishbone
Gold Pty Ltd Mingela area, North Queensland . - - see above PDF
link to view
The information in this report that relates to the reporting of
exploration results has been compiled Dr Simon D. Beams, a
full-time employee of Terra Search Pty Ltd, geological consultants
employed by Wishbone Gold Pty Ltd to carry out exploration over
their White Mountain and Wishbone 2,3,4 EPMs. Dr Beams has BSc
Honours and PhD degrees in geology; he is a Member of the
Australasian Institute of Mining and Metallurgy (Member #107121)
and a Member of the Australian Institute of Geoscientists (Member #
2689). Dr Beams has sufficient relevant experience in respect of
the style of mineralization, the type of deposit under
consideration and the activity being undertaken to qualify as a
Competent Person within the definition of the 2012 Edition of the
AusIMM's "Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves". Laboratory analyses were
carried out at internationally recognised, independent, commercial
laboratories. All results reported here for the first time have
been accompanied by industry standard QA/QC checks.
END
For further information, please contact:
Wishbone Gold PLC
Richard Poulden, Chairman Tel: +971 45 846 284
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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