Business
Proposed Acquisition of Silver Lake Project, W.A.
Wishbone Gold Plc has entered into an option agreement for a £100,000 cash payment to acquire the Silver Lake Project in Western Australia, with a potential purchase price of 3,571,777 ordinary shares. The project encompasses over 422 km² and exhibits extensive surface-level silver mineralization along a 35km structural corridor, with historic rock chip samples yielding up to 847g/t silver and drilling intersecting 2m at 150g/t Ag. The company also notes the presence of bentonite and phosphate occurrences within the tenement. Disclaimer*
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 9 April 2026\n \nWishbone Gold Plc\n(\"Wishbone\" or the \"Company\")\nLondon AIM & Aquis: WSBN\n \nProposed Acquisition of Silver Lake Project, W.A.\n \n Rock Chip Samples up to 847g/t Silver\n \n \nWishbone Gold Plc is pleased to announce the signing of an option for a cash payment of £100,000, to acquire the Silver Lake Project, a silver prospect in the Carnarvon Basin of Western Australia. We set out below some historic data which will be further analyzed prior to any acquisition.\n \nShould the acquisition proceed on the proposed basis the purchase price will be 3,571,777 ordinary shares in Wishbone.\n \nThe tenement of the Project is over 422km2 and has extensive surface-level silver mineralisation along a 35km structural corridor. In addition, numerous bentonite[1] occurrences alongside phosphate have been recorded within the project.\n \nSilver Lake is located 135km south of Exmouth and 200km southwest of Onslow, the main port for the region's iron and LNG exports, which is a multi-user port. The project site is accessed from either the North West Coastal Highway or Minilya-Exmouth Rd and then on well-maintained unsealed station roads. (Figure 1).\n \nHighlights of Historic Data\n· 422km2 consolidated tenement holding extensive surficial silver mineralisation along 35km structural corridor\n· Drilling of Cardabia Creek 6 prospect intersected 2m at 150g/t Ag from 4m depth\n· Rock chip sampling has reported multiple significant results across seven discrete prospects (Figure 2) including:\no 847g/t Ag- Tarrawarra 1\no 410g/t Ag- Cardabia Creek 7\no 260g/t Ag- Tarrawarra 3\no 216g/t Ag- New Cardabia Dam South Prospect\no 190g/t Ag- Tarrawarra 2\no 180g/t Ag- Tarrawarra 4\n· Numerous bentonite occurrences also noted with phosphate further to the northern extent of the Project\n· &nbs...