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Highlights:

  • WSBN drilling at Red Setter intersects quartz-carbonate veining and sulphides at ~520 m depth.
  • Exploration identifies features consistent with domal folded hinge structure.
  • WSBN next step is new hole 50–75 m southwest targeting dome centre.

Wishbone Gold Plc (LSE:WSBN), an exploration company focused on gold and copper projects in Australia, has reported initial results from its ongoing drilling program at the Red Setter Gold Dome Project, located approximately 15 kilometres southwest of Greatland Gold Plc’s Telfer gold mine in Western Australia.The current phase of drilling has intersected zones containing quartz-carbonate veining and sulphide minerals, including chalcopyrite and pyrite, at depths of around 520m. These findings align with the target depth of approximately 550 metres previously estimated by Expert Geophysics Limited (EGL) through Mobile Magnetotellurics (Mobile MT) surveys.

According to the company, changes observed in the bedding of the host rock, combined with the mineralisation indicators, suggest the current hole is situated near the periphery of the main hinge of the domal folded structure modelled by EGL. As a result, a new drill hole will be collared 50–75m southwest of the existing site to test what is now interpreted as the centre of the dome. The ongoing drill program aims to extend the current hole to around 630m before commencing drilling at the new location. Geological and structural logging is being conducted in real time, allowing the team to adjust its drilling strategy based on observations of the subsurface structures.

The Red Setter Gold Dome Project is considered a prospective area for gold and copper mineralisation due to its geological similarities with other known mineralised systems in the Paterson Range region. The presence of quartz-carbonate veining is often associated with hydrothermal fluid movement, a process linked to mineral deposition. In addition, chalcopyrite a copper-bearing sulphide  has been identified within the veining and fractures, along with bleaching and alteration features in the drill core.

Drilling progress has been slower than initially anticipated because operations are currently limited to daytime shifts. Despite this, the company reports that site-based processing of drill core and immediate logging have enabled timely geological interpretation. This approach has helped confirm the structural changes associated with the dome as drilling approaches the predicted target depth. The drilling campaign at Red Setter is part of Wishbone Gold’s broader strategy to explore and assess the potential of its Western Australian tenements. The results from the current and planned holes will contribute to evaluating the scale and economic potential of mineralisation within the target structure.

Wishbone Gold holds a portfolio of exploration projects in Australia, with a focus on precious and base metals. The company’s Western Australian interests include Red Setter and other nearby prospects in the Patersons Range, a region that hosts several significant mining operations.

WSBN is trading 9.63% higher at GBX 0.44 per share as of 11 August 2025.