Wishbone PLC - Gibraltar-based, Australia-focused mining company - Reports results from enhanced processing by Expert Geophysics Ltd of MobileMT survey across all Cottesloe properties. Cottesloe project is located in Western Australia, south east of Wishbone’s Red Setter project. Says eight priority targets were identified, all less than 400 metres below the surface. Wishbone says gravity survey and 3D inversion of aeromagnetic data to assist with target refinement will start shortly, as will heritage survey. Drilling will start once heritage survey is complete; Wishbone will announce timing and details in due course. Once next phase of drilling is complete, company will expand the geochemical sampling programme to cover more areas.

‘Historic drill and exploration data we released last month sits mostly outside and peripheral to the new MobileMT anomalies thus this further increases the prospectivity of this precious and base metal project,’ says Chair Richard Poulden. ‘The next work programme will refine drill targets and the requisite heritage surveys. This forms the basis for an exciting 2023 field season.’

Current stock price: 1.98 pence, down 1.0% in London on Friday

12-month change: down 83%

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