Drilling Update at Red Setter Gold Dome Project
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
11 August 2025
Wishbone Gold Plc
("Wishbone" or the "Company")
London AIM & Aquis: WSBN
Drilling Update at Red Setter Gold Dome Project Western Australia
Sulphide Mineralisation Intersected at Target Depth for First Hole
Wishbone Gold Plc is pleased to announce that drilling at the Company's Red Setter Gold Dome Project, located 15km South West of Greatland Gold Plc's (AIM and ASX: GGP) operating Telfer gold mine in Western Australia (Figure 2), has intersected mineralisation in its first hole deepening program with zones of quartz-carbonate veining and sulphides of chalcopyrite and pyrite observed down hole (Figures 3-5).
As announced on 25 April 2025 the Mobile MT domal target interpreted by Expert Geophysics Limited (EGL), showed the target depth at around 550 metres.
This fracturing and evidence of sulphides from ~520 metres is encouraging in that we are seeing strong signs of mineralisation within the concept of a domal folded hinge structure, as predicted by Mobile MT and the EGL model.
Observed changes in bedding of the host rock, quartz-carbonate veining and sulphides of chalcopyrite and pyrite within zones down the hole, are very positive indicators. Overall, these suggest we are peripheral to the main hinge target, and a new hole will now be collared to the south-west of the current hole to focus on what is now thought to be the centre of the domal structure. This will be some 50-75 metres from the current drill hole.
Drilling is planned to test the current hole further to a depth of around 630 metres before shifting to the new hole.
Ed Mead, Wishbone Gold WA director, commented; "Seeing the quartz-carbonate veining and sulphides at the expected target depth is highly encouraging at this early stage of the drill program. Progress has been a little slower than originally expected due to the drill rig only drilling on day shift, however, processing of core on site and geological and structural logging is giving us real time information on the domal structural we are successfully targeting. This means that we are seeing the significant changes in the bedding of the host rock as we approached the 550m target depth, indicating folds associated with a dome. The zones of significant quartz-carbonate veining seen indicates the presence of hydrothermal fluids often associated with mineralisation. Chalcopyrite (copper sulphide), as blebs in the veining and within fractures, and some bleaching/alteration within the drill core is also seen as highly encouraging. Drilling continues."
Figure 1: Drillers on site at Red Setter.
Figure 2: WSBN Exploration Tenement applications immediately surrounding the Telfer Mine.
Figure 3: Chalcopyrite (copper) sulphides, alteration and quartz-carbonate veins at 520 metres.
Figure 4: Chalcopyrite blebs within Quartz Carbonate veining at 566 metres.
Figure 5: Big change in bedding, increased fracturing and sulphides at around 570 metres.
END
For more information on Wishbone, please visit the Company's website.
For further information, please contact:
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Wishbone Gold PLC |
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Richard Poulden, Chairman |
Tel: +971 4 584 6284 |
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Beaumont Cornish Limited |
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(Nominated Adviser and AQUIS Exchange Corporate Adviser) |
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Roland Cornish/Rosalind Hill Abrahams |
Tel: +44 20 7628 3396 |
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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