Business
Acquisition of option in Havieron/Telfer Region
Acquisition of option in Havieron/Telfer Region.
About this update from Wishbone Gold Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0724B\n Wishbone Gold PLC\n 05 October 2020\n \n \n \n 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\")\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 5 October 2020\n \n \n \n \n \n Wishbone Gold Plc\n \n \n (\"Wishbone\" or the \"Company\")\n \n \n Wishbone Gold Plc / Index: AIM: WSBN / Sector: Natural Resources / AQSE: WSBN\n \n \n \n \n \n Acquisition of option on Significant Havieron / Telfer Region Tenement Package \n \n \n Wishbone Gold Plc (AIM: WSBN), the London listed precious metals trading and exploration company, announces that it has signed an exclusive 45 day option to acquire 100% ownership of 67 square kilometres of granted mineral exploration tenements in the Patersons Range region of Western Australia (the \"Patersons Range Project\").\n \n \n \n \n \n http://www.rns-pdf.londonstockexchange.com/rns/0724B_1-2020-10-5.pdf\n \n \n Figure 1: Paterson Range Project Location Plan\n \n \n Figure 2: Paterson Range Project Regional Location Map \n \n \n The Patersons Range Project has three approved exploration licenses: 45/5297, 45/5408, and 45/5409.\n \n \n \n \n \n · \n EL 45/5297 is a large is 57.4 km2 tenement and is located only 13 km south-west of the Telfer Gold Mine, which is operated by Newcrest Mining (see attached map). \n \n \n · \n EL's 45/5408 and 45/5409 (6.376 km2 and 3.188 km2 respectively) are located about 15 km south-east of Telfer and only about 25 km south-west of the new Havieron gold discovery operated by Greatland Gold Plc and Newcrest Mining.\n \n \n \n \n \n \n \n \n Transaction details:\n \n \n \n \n \n Wishbone has signed an exclusive 45 day option to acquire the Patersons Range Project and has agreed to pay the vendors an option payment £50,000. Wishbone has already commenced due diligence on the projects and will complete this during the 45-day option period. Assuming that Wishbone proceeds to acquire the projects, Wishbone will issue the vendors (being Peter Romeo Gianni, Geonomics Australia Pty Ltd and David Anthony Lenigas) an additional £183,333 in cash, issue 11,111,111 new ordinary shares (Acquisition Shares) at a deemed issue pr...