Highlights

  • Hole 3 aims to follow up on 7m intercept of 2g/t gold, 0.38% copper.
  • Initial RC program planned for 5,000m of pre-collars and water bores.
  • Core from hole 2 shows pyrite vein at 850.75m and fractures to 950m.

Wishbone Gold Plc (LSE:WSBN) has provided an update on its Red Setter Gold Dome Project in Western Australia, situated about 20 kilometers southwest of Greatland Gold Plc’s Telfer gold mine. The company recently completed drilling of hole 2 (25RSDD002) to a depth of 950 meters. Multiple fractured zones containing pyrite were encountered, and the core from this hole is being sent to Perth and ALS Laboratories for cutting and assay. Drilling has now commenced on hole 3 (25RSDD003), a planned 500-meter deep hole located 1.6 kilometers north of the first two holes. This hole aims to build on prior results from hole WRSDD0008, which intersected 7 meters at 2 grams per tonne gold and 0.38% copper from 273 meters.

Mobilisation of Reverse Circulation Drilling

A Schramm T685i (DR21) RC rig, provided by Core Drilling Services, is set to be mobilised to the site over the weekend, with drilling scheduled to begin on 21 October. This RC rig will operate alongside the existing diamond drill rig, providing pre-collars to access additional target angles within the Red Setter Dome. It will also drill water bores to support double-shift diamond drilling. The RC program will focus on shallower copper-gold intercepts reported in 2023 near 117 meters depth around the diorite dyke. The initial RC contract covers 5,000 meters of drilling.

Location and Tenement Details

The Red Setter Project and adjacent exploration tenement applications lie close to the Telfer Mine, benefiting from proximity to known gold-copper mineralisation in the region.

Management Comment

Ed Mead, Wishbone Gold WA director, stated:
"Diamond drilling is now on double shift and with the Reverse Circulation drill rig arriving this weekend we are ramping up activities to expedite exploration. I look forward to the results arriving soon from the first drill hole, and while we await these results, we have sent the diamond rig to nearby hole 3 to investigate past findings. I look forward to presenting further updates on progress shortly."

Share performance

The company is currently trading at GBX 1.28 per share, slightly up by 9.93% from its previous close of GBX 1.40.