Red Setter Gold Dome pre-drill visit completed
2 June 2025
Wishbone Gold Plc
("Wishbone" or the "Company")
Red Setter Gold Dome pre-drill site visit completed with positive findings
13km from Telfer Gold Mine Dome Western Australia
- The pads and collars of the key drill holes are in good condition allowing low cost re-entry
- Shallow water table identified will enable cheaper pump utilisation
- Access tracks only need minor work saving costs and time, with no heritage surveys
Wishbone Gold Plc (London AIM & Aquis: WSBN) is pleased to announce that Apex Geoscience Consultants ("Apex"), who are now managing the day-to-day on the ground exploration and upcoming drilling program at the Red Setter Dome, confirmed that the key drill holes at Red Setter which are to be deepened in order to test the main gold target at depth appear to be in good order for the proposed drill program. This confirmation follows an on-site pre-drill site visit by Apex last week.
The Red Setter Dome is located 13 kilometres (Figure 1) to the southwest of the +15Moz Telfer Gold Mine in Western Australia.
The site visit by helicopter, viewed the drill pads and collar conditions for two drill holes which are to be extended, and found them to be in good condition, which will allow for a cheap re-entry to the holes to deepen them with conventional diamond drilling tails to the 550m target depth into the hinge of the Dome. It was also observed that the water table was estimated at only 15m depth, which will allow for a shallow-set submersible pump to generate water for drilling. A loader will be required for access track maintenance and clean out of drill site sumps prior to drilling activities.
Apex, whose regional centre is in Perth, W.A., have started preparation and logistics for the planned extension of the two drill holes into the main undrilled gold target at the Red Setter Dome that was identified by Expert Geophysics Limited in September 2024, and revalidated by Perth-based Southern Geoscience in April 2025.
Highlights as released on the 25th April 2025 and Update:
· The main Red Setter Dome target is interpreted to sit at a depth of around 550m.
· Previous reverse circulation ("RC") drill holes across the Red Setter Dome only reached depths of circa 250-300m and now determined that they were not drilled deep enough to test the main target.
· Two key drillholes (23RSRC001 and 003A, Figure 2 and 3) are now planned to be extended using conventional diamond drill tails from the bottom of the existing RC holes.
· The drill pads from the previous RC drill holes and access tracks require minor siteworks and maintenance, which will save cost and time, with no heritage surveys.
· Analysis by Expert Geophysics Limited highlights that the Red Setter Dome has strong similarities to the Telfer dome, which hosts the +15Moz Telfer Gold Mine now owned by Greatland Gold Plc (LSE: GGP).
· Previous Wishbone drilling only targeted a minor magnetic feature to the north of the main Red Setter Dome target but still intersected significant gold and copper mineralisation including:
o 5m at 1.2g/t Au and 0.002% Cu from 319m (WRSDD0015), and
o 7m at 2g/t Au and 0.38% Cu from 273m (WRSDD0008)
· These results are still significant and require further follow-up as they have similar characteristics to the nearby Telfer Gold Mine, where GGP recently reported a Mineral Resource Estimate of 154Mt @ 0.64g/t gold and 0.08% copper for 3.2Moz Au and 117kt Cu (GGP RNS 18/03/25)
Richard Poulden, Wishbone Gold's Chairman, commented:
"It is great to get the site trip completed by Apex Geoscience, which paves the way for site works and finalising of the drilling contractor and the start date for drilling. Finding the collars in good condition with the water table at 15 metres, means we are easily able to re-enter the existing 2 RC drillholes to deepen them with diamond drill tails. The fact that the hole collars at surface are also in good condition means we will save time, money and avoid further heritage surveys for this drill program. The drilling of these deeper holes into the main Red Setter Dome gold target at 550m depth is a priority for the Company and I look forward to updating shareholders on the timing for start of drilling in the very near future."
Figure 1: Red Setter in relation to the Telfer Main Dome
Figure 2: L1460 MMT showing resistive "domal" target as the blue colour, and drill hole 23RSRC003A to be extended from ~250m to ~550m as would be positioned near domal axis at depth. Collar is in good condition with the pad needing clearing, and sumps that require deepening.
Figure 3: L1470 MMT showing resistive "domal" target as the blue colour, with drill hole 23RSRC001 to be extended from ~300m to ~550m. Collar in good condition and minor site works required.
Figure 4: Red Setter access track looking east
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 consultant to the company 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.
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 |
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Tavira Financial Limited |
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(Broker) |
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Chris Kipling |
Tel: +44 20 3833 3742 |
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