Business
Positive Exploration Update
Positive Exploration Update.
About this update from Wishbone Gold Plc
[{"type":"text","content":"\n \nRNS Number : 2938K Wishbone Gold PLC 29 July 2013 \n \n\nWishbone Gold Plc / Index: AIM / Epic: WSBN / Sector: Natural Resources\n29 July 2013\nWishbone Gold Plc ('Wishbone Gold' or 'the Company')\nPositive Exploration Update on Second Prospect on Wishbone II Project\n \nWishbone Gold plc, an exploration and acquisition company focussed on precious metals, is pleased to announce that its recent exploration programme, which included geochemical sampling and ground magnetic surveying, has highlighted the potential for gold and multi-element mineralisation at Oaky Mill, a second prospect on its 100% owned, Wishbone II project in Queensland, Australia. This announcement follows the positive update regarding the Hanging Valley Prospect on 17 July 2013, and is in line with the Company's strategy to acquire and prove up licences located in regions known for significant precious metal mineralisation.\n \nHighlights \n· Ground magnetic survey shows Oaky Mill to be located on the major gold-bearing system that runs north-west from the producing Mt Wright-Ravenswood gold mine \n· Geochemical sampling confirms the presence of high grade gold at Oaky Mill in line with historic sampling results\n· 3.5 g/t gold (Au); 5.6 g/t silver (Ag) as well as elevated copper (Cu) in the 0.1% to 0.2% Cu range returned from one rock chip sample\n· Five out of seven rock chip samples taken recovered greater than 0.2 g/t Au\n· Elevated results returned from minus-80 mesh-sieved stream sediment sampling \no two of the eleven samples collected reporting Au above the elevated threshold of 50 ppb Au up to strongly anomalous 980 ppb Au\n· Forward plan to further delineate the surface gold anomalies and features identified to define suitable drilling targets\n \nRichard Poulden, Executive Chairman of Wishbone Gold said:\n \n\"We have identified two exciting new prospects at Wishbone II. One is the Hanging Valley prospect located in an area recently identified as the 'NE Structure' and now another at Oaky Mill in an area that has returned high gold grades consistent with results recorded from historic samples. In addition, both prospects are associated with known gold-bearing structures; in O...