Wishbone Gold PLC (AIM:WSBN, AQSE:WSBN) told investors it sees “major resource potential” at its Cottesloe project in Western Australia, following analysis of newly digitised drilling results from historic exploration programmes.
The company has analysed the data from some 483 drill holes drilled in 1976 at the earliest to the latest holes which were drilled in 1996, along with various sampling programmes.
Analysis of digitised data indicates substantial quantities of copper, lead, zinc, silver, and cobalt at the project.
The Cottesloe project, encompassing Cottesloe East announced earlier this year, has a well-defined base metal anomaly stretching over 2.5km, Wishbone highlighted.
The new data sets reveal over 25 target areas within the project, which according to Wishbone, shows the project's size and potential are highly promising.
Wishbone chair Richard Poulden in a statement described it as “a major step forward” in the company’s knowledge of Cottesloe.
“Using this data we are effectively building off three historic drilling programs providing several years of data. Coupled with our new experience of the MT technology we are pleased to be this far ahead before starting our own drill campaign,” Poulden said.
A previous phase of work saw Mobile Magneto Tellurics (MT) flown over the Cottesloe area, and along with the historic drill data will be incorporated into the existing model of the project, to support Wishbone’s targeting for a future drill programme.