Drilling underway at Red Setter

Wishbone Gold PLC

20 September 2023

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR

20 September 2023

Wishbone Gold Plc

("Wishbone" or the "Company")

Wishbone Gold Plc / Index: AIM: WSBN / Sector: Natural Resources / AQSE: WSBN

Drilling underway at Red Setter

Paterson Range, Western Australia

Wishbone Gold Plc (AIM: WSBN, AQSE: WSBN), is pleased to announce that the drill rig and support trucks operated by Strike Drilling have arrived at its Red Setter project and that drilling is underway on the newly cleared heritage areas.

Image 1: Drill rigs at Red Setter

As previously reported on the 13^th December 2022, initial assay results have confirmed the geological observations of a broad hydrothermal system with gold and copper associated with quartz-carbonate-sulphide veins present within all lithology types, and often with breccia textures.

Image 2: Drill rigs and support trucks at Red Setter

Following the MT ("magnetotellurics") survey undertaken by Expert Geophysics in which they provided the opinion that Red Setter was an analogue of Telfer, the Company changed the exploration program. It now reflects the facts it is looking for broad spreads of mineralisation rather than single high grade bulls eyes. (image 3)

As previously reported on 16^th March 2023, Southern Geoscience Consultants and Expert Geophysics have identified two target areas, MMT - R1 and MMT - R2. At this stage of first phase interpretation efforts the focus has been on the primary MobileMT targets in close proximity to the main Red Setter known mineralised zone and magnetic target, and also those targets that are at a relatively shallow depth (<500m), and adjacent to accessible locations which have been cleared by Aboriginal Heritage. (image 4)

Image 3: shows a combined picture of Red Setter and Telfer on close to the same scale.

Image 4: MMT Interpretation / Two Primary Targets - MMT_R1 and MMT_R2 with AMAG/Gravity/MMT Isosurfaces, AMAG TMI1VD Imagery and Existing Drillhole Collars

The Red Setter Project is situated on Wishbone Gold's 57.4km² wholly owned exploration licence EL45/5297 and is located 13km south-west of Newcrest Mining's Telfer gold-copper mine and 60km west of Newcrest and Greatland Gold's Havieron gold-copper discovery.

Richard Poulden, Wishbone Gold's Chairman, commented:

"We are pleased to be continuing on from last year's successful drill program which confirmed a hyperthermal gold/copper system. The analysis done in the meantime has added greatly to our knowledge of the system and provides additional targets on which to focus."  

For more information on Wishbone, please visit the Company's website https://wishbonegold.com/.

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For further information, please contact:

Wishbone Gold PLC
Richard Poulden, Chairman	Tel: [phone]
Beaumont Cornish Limited
(Nominated Adviser and AQUIS Exchange Corporate Adviser)
Roland Cornish/Rosalind Hill Abrahams	Tel: [phone]
SP Angel Corporate Finance LLP
(Broker)
Ewan Leggat / Kasia Brzozowska	Tel: [phone]
J&H Communications Ltd
(Financial PR)
George Hudson	Tel: [phone]

 

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