Wishbone Gold PLC (AIM:WSBN, AQSE:WSBN) said the first five reverse circulation (RC) holes drilled at Cottesloe in recent weeks have reinforced its view that the licence is potentially highly prospective for precious and base metals.
In a statement, Wishbone said large sulphidic and pyritic shale zones were encountered with widths over 70 metres.
Initial onsite X-ray results, meanwhile, showed elevated levels of copper, lead, zinc, cobalt, nickel, potassium, vanadium and titanium in the RC drill chips.
A thick sulphide zone in one of the holes confirms the architecture and target zones are consistent with the exploration model, it added.
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