Aim- and AQSE-listed Wishbone Gold has completed its due diligence on the Crescent East lithium and gold project, in the Mosquito Creek Basin area, in Western Australia, with its geologists confirming the presence of gold at the tenements.
The company has, as a result, decided to exercise its option to acquire the tenements.
"We are pleased to have exercised the option on the Crescent East project, and we will continue to secure more land in the highly sort after Pilbara area to cement Wishbone’s future as a growing player in this exciting area. To have found gold and possible lithium structures before exploration has started is extremely promising,” chairperson Richard Poulden says.
Wishbone points out that lithium mineralisation throughout the Pilbara appears to be in close association with gold deposits.
"With a number of significant lithium projects around historic gold mining centres, the Crescent East project area offers an early-stage entry into the heart of the area that is driving lithium exploration in Western Australia," it adds.