Wishbone Gold PLC (AIM:WSBN, AQSE:WSBN) chair Richard Poulden has described the results of a new survey of the Cottesloe project in Western Australia as "very encouraging".
The gravity survey shows a clearly defined area around the MMT_C1 target area, which the company said is the primary target for sediment-hosted base metal mineralisation.
New findings complement existing data, Wishbone highlighted in a detailed geological update, with the company describing the area as a compelling, high-priority drill target.
"The results of this new gravity survey are very encouraging,” Poulden said in a statement.
“By combining all existing data sets comprising of magnetics, gravity, geochem and drill data with the gravity information and have them all pointing to the same area highlights the potential of our Cottesloe asset."
Cottesloe is found some 55 kilometres south of Newcrest's Telfer gold mine and it is 35 kilometres south-east of Wishbone's Red Setter project, in the Paterson Range province of Western Australia.
The exploration project comprises three tenements and spans around 165 square kilometres which are considered highly prospective for precious and base metals.