WSBN's filing for Drilling Programme at Red Setter

 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")

23 April 2021

Wishbone Gold Plc

("Wishbone" or the "Company")

Wishbone Gold Plc / Index: AIM: WSBN / Sector: Natural Resources / AQSE: WSBN

Wishbone Announces filing for Drilling Programme at Red Setter

Patersons Range, Western Australia

Highlights:

·    Wishbone has filed its drilling programme for the targets identified on its Red Setter Project in the Pilbara region of Western Australia.

·    Red Setter is located 13 km south-west of Newcrest Mining's Telfer Gold-Copper project with all its associated access and infrastructure

·    The Programme of Works filed with the Western Australian Government for up to 100 drill holes to depths of 300 metres over a 4 year period.

·    Designed to test for potential gold and copper mineralisation on multiple magnetic targets identified over a 3km x 1km area.

·    Depth of cover to targets is estimated to be less than 100m.

London listed Wishbone Gold Plc is pleased to advise that a Programme of Works ("POW") has now been formally submitted by our consultants Terra Search Pty Ltd to the Western Australian Government's Department of Mines, Industry Regulation and Safety ("DMIRS") for up to 100 drill holes to depths of 300 metres for a total of up to 30,000 metre of drilling over a 48 month period.

Wishbone has worked with Terra Search for many years on all its Australian assets. In this particular region Terra Search have worked on nearby projects with Newcrest Mining on the Telfer project and also with Geatland Gold on the Havieron project. They thus bring a high level of regional knowledge to the work on Red Setter in addition to their overall exploration expertise. 

The drilling is targeting multiple highly prospective magnetic targets spanning an area covering a 3km x 1km area. Please refer to the RNS dated 18 February 2021 for full details on these targets.

In addition to the government filings on the drilling program Wishbone has a policy of ensuring that all Aboriginal sacred and historic sites are treated with proper respect and care. There are no known such sites on the Red Setter prospect but proper care will be taken in regard to any artefacts which may be found during exploration.

Further announcements regarding the timing and scale of the drilling programme including confirmation that all approvals and permits are in place will be made in due course.

Richard Poulden, Wishbone Gold's Chairman, commented, "The submission of the Programme of Works to the DMIRS is an important step forward to start our maiden drilling programme at Red Setter. The prospectivity of Red Setter for gold and copper was greatly improved with our recently flown high-resolution magnetic survey, as the strength and size of the magnetic targets far exceeded our original expectations in terms of understanding of the gold/copper target's geometry and prospectivity.  Further updates will be provided to the market as we move closer to the commencement of the drills turning."

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