Shallow Wide Gold Intersected at Red Setter
Summary by AI BETAClose X
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
22 June 2026
Wishbone Gold Plc
("Wishbone" or the "Company")
London AIM & Aquis: WSBN
Shallow and Wide Gold Intersected at Red Setter
Wishbone Gold Plc is pleased to announce that highly positive gold assays have been returned from the first of the assay results received from its shallow Reverse Circulation ("RC") drilling at its Red Setter gold-copper project.
Red Setter is located 20km south-west of Greatland Gold Plc's (AIM and ASX: GGP) Telfer gold mine, and 50km east of Cyprium Metals Ltd's (ASX: CYM) Nifty copper mine (Figure 1).
Highlights
· These newly discovered shallow gold zones at Red Setter are a major vindication of our strategy and provide a material enhancement to the prospects and outlook of the project
· The RC holes are pre-collars for the deeper diamond drilling which is underway at the site
· The shallowest gold mineralisation intercept at Red Setter to date starts at 45m in drill hole 26RSRD003
· Drill hole 26RSRD003 ended in mineralisation with 11m@0.7g/t Au from 139m, including 4m@1.3 g/t Au to end of hole at 150m, highlighting gold mineralisation is open at depth here
· The diamond drill rig is now over 26RSRD003 and extending the drill hole, which is the most southern drill hole Wishbone has drilled to date
· All areas in the drill programme have been heritage cleared and all Programme of Work ("PoW") documentation from the Department of Mines, Petroleum and Exploration are in place.
· A High Definition Transient Electromagnetic ("HDTEM") survey quote has been requested to cover Red Setter and other promising targets on ballot won tenement E45/7169 covering an area located 25km north-west of Telfer. HDTEM surveys offer unparalleled depth penetration, high-resolution subsurface mapping, and the ability to detect conductive ore bodies through thick, challenging overburden. This non-invasive method greatly reduces exploratory drilling costs by accurately pinpointing high-probability drill targets.
Ed Mead, Wishbone Gold WA director, commented:
"The gold assay results from the first seven RC drill holes are terrific and a real game changer for Red Setter and the Company. To find gold starting as shallow as 45m is amazing and to see the hole grading 11m@0.7g/t gold that was still in mineralisation is incredible. In the first three months of this year, Telfer processed 4.82Mt at 0.59g/t Au and 0.1% Cu, so we are above the head grade for gold mineralisation. The diamond drill rig on site is now extending the hole. This hole indicates the gold system is open to the south-east, where all heritage clearances are complete and an additional 3km of potential strike has been added on top of the 4km diorite target."
"The current 2026 drill programme is going to plan and with faster turnaround times on assay results, we expect to generate more regular exploration updates for shareholders as we continue to advance the exciting Red Setter Project. We are adapting the drill programme to results and further RC holes have already been added to immediately follow up the shallow gold discoveries."
2026 drilling programme details
The 2026 drill programme at Red Setter is well underway. 14 RC holes as pre-collars for the diamond drilling have now been completed, and gold assays have been returned for the first 7 RC holes (see table 1 for significant gold intercepts). Copper assays have not yet been reported.
Further RC drill holes will commence when Core Drilling's RC rig returns to site in mid-July.
Wishbone initially designed a 25 hole RC and diamond drilling programme of approximately 9,000 metres to follow up on the encouraging 2025 assay results and to test extensions of the mineralised system. Following the shallow gold discovery the programme will now be extended and modified to target this gold. The 25-hole drill programme has been designed to:
· Test extensions of known gold-copper mineralisation
· Evaluate continuity along the 4km diorite trend
· Improve understanding of structural controls on mineralisation
· Target zones of strongest alteration and sulphide mineralisation
Drilling will utilise reverse circulation pre-collars followed by diamond core tails, targeting depths of around 400 metres.
Table 1: Significant drill intercepts from Reverse Circulation drilling at Red Setter. Refer to Figure 2 for location of drill holes
|
Hole ID |
From (m) |
To (m) |
Length (m) |
Au (g/t) |
Significant Intersection |
|
26RSRD001 |
77 |
78 |
1 |
0.2 |
1m @ 0.2g/t Au from 77m |
|
26RSRD001 |
120 |
122 |
2 |
0.3 |
2m @ 0.3g/t Au from 120m |
|
26RSRD003 |
45 |
48 |
3 |
0.7 |
3m @ 0.7g/t Au from 45m |
|
26RSRD003 |
56 |
60 |
4 |
0.3 |
4m @ 0.3g/t Au from 56m |
|
26RSRD003 |
139 |
150 |
11 |
0.7 |
11m @ 0.7g/t Au from 139m |
|
Inc. |
146 |
150 |
4 |
1.3 |
4m @ 1.3g/t Au from 150m EOH |
|
26RSRD005 |
93 |
94 |
1 |
0.5 |
1m @ 0.5g/t Au from 93m |
|
26RSRD005 |
123 |
127 |
4 |
0.2 |
4m @ 0.2g/t Au from 123m |
|
26RSRD005 |
134 |
135 |
1 |
0.2 |
1m @ 0.2g/t Au from 134m |
|
26RSRD006 |
93 |
94 |
1 |
0.4 |
1m @ 0.4g/t Au from 93m |
|
26RSRD006 |
101 |
105 |
4 |
1.3 |
4m @ 1.3g/t Au from 101m |
|
26RSRD006 |
124 |
125 |
1 |
0.2 |
1m @ 0.2g/t Au from 124m |
Figure 1: WSBN Red Setter Project (Red) and Exploration Tenement applications (Blue) immediately surrounding the Telfer Mine, with new access road application to Nifty Copper Mine
Figure 2: Collar plan for Red Setter
END
For more information on Wishbone, please visit the Company's website.
For further information, please contact:
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Wishbone Gold PLC |
|
|
Richard Poulden, Chairman |
Tel: +971 4 584 6284 |
|
|
|
|
Beaumont Cornish Limited |
|
|
(Nominated Adviser and AQUIS Exchange Corporate Adviser) |
|
|
Roland Cornish/Rosalind Hill Abrahams |
Tel: +44 20 7628 3396 |
|
|
|
|
Cranborne Communications Ltd |
|
|
George Hudson |
Tel: +44 (0)7803 603130 |
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.
Competent Persons Statement
The Information in this report that relates to exploration results, mineral resources or ore reserves is based on information compiled by Mr Edward Mead, who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Mead is a director of Wishbone Gold WA Pty Ltd and is a consultant to Wishbone Gold Plc and employed by Doraleda Pty Ltd. Mr Mead has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the `Australian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves' (the JORC Code). Mr Mead consents to the inclusion of this information in the form and context in which it appears in this report.
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