Business
Positive Drilling Results at Cottesloe
Positive Drilling Results at Cottesloe.
About this update from Wishbone Gold Plc
[{"type":"text","content":"\n\nThis 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\n \n \n\n \n \n15 March 2024\n \nWishbone Gold Plc\n(\"Wishbone\" or the \"Company\")\n \nDrilling Suggests Large Sediment Hosted Base Metal Mineralised System\n \nCottesloe, Western Australia\n \nWishbone Gold Plc (AIM: WSBN, AQSE: WSBN), is pleased to announce that initial results from the diamond drill program at its 100% owned Cottesloe Project has highlighted significant mineralisation potential. The information gathered to date is highly encouraging, confirming the overall exploration model for a major sediment hosted metals system focused on base metals and silver.\n \nThe base metals identified are critical to the development of lithium-ion batteries used in electric vehicles and in energy storage systems integral to the global push towards lower carbon emissions.\n \nThis phase of the drill program has been focused on the southern part of the Cottesloe tenements. The entire project consists of three tenements totalling 50 blocks covering an area of 165km2 and is considered highly prospective for precious and base metals. The next phase of drilling will be in the northern part of Cottesloe where the Company believes there to be more promising mineralisation.\n \nThis news is further to the announcement on 13 December 2023 in which the Company said that it had visually encouraging results showing zones with 10-20% base metal sulphides and scans from portable X-ray fluorescence reading elevated base metals.\n \nWishbone is now modelling density, structural and geochemical information from the drill program results to enhance geophysical interpretations.\n \nRichard Poulden, Wishbone Gold's Chairman, commented: \"These results are spectacular and vindicate our original belief that Cottesloe has significant potential. For it to occur in the south highlights the scale of what we have in front of us for the entirety of the project. To have mineralisation, and zonation of minerals, from surface to 700m is truly incredible and the confirmed large scale minera...