LONDON (ShareCast) - (Sharecast News) - Wishbone Gold announced on Friday that its initial programme of works for the Cottesloe Silver Project has been approved by the Western Australian Government's Department of Mines, Industry Regulation and Safety (DMIRS).
The AIM-traded firm said the programme provided for the drilling of 20 reverse circulation drill holes to depths of 250 metres, that were designed to test for potential precious and base metals mineralisation on multiple targets previously identified from historic exploration.

It said the Cottesloe Project is located about 55 kilometres south of Newcrest Mining's Telfer Gold Mine, and around 35 kilometres south-east of its own Red Setter Project in the Patersons Range province of Western Australia.

Cottesloe consists of one granted exploration license, E45/4543, and was considered "highly prospective" for precious and base metals.

"We see the potential for Cottesloe to host both precious metals and base metals based on historic exploration work," said executive chairman Richard Poulden.

"As Cottesloe is very close to Red Setter, the Company's exploration consultants Terra Search will run Cottesloe's exploration concurrently with our work at Red Setter and service the exploration efforts from the Telfer based camp."

At 1408 BST, shares in Wishbone Gold were up 5.58% at 17.42p.

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