RCS - Wishbone Gold PLC - Mineralisation over 3km strike at Red Setter

Wishbone GoldAnnouncement

13/11/2025 15:15

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RNS Number : 4821H  Wishbone Gold PLC  13 November 2025

 

 

 

 

13 November 2025

 

Wishbone Gold Plc

("Wishbone" or the "Company")

Mineralisation over 3km strike at Red Setter

 

Wishbone Gold Plc (AIM and AQSE: WSBN) wishes to remind shareholders of the
Company's RNS dated 4 December 2023 which outlined the fact that gold and
copper mineralisation was found in its 2023 drilling program at its Red Setter
Gold Project located 20km south-west of the Telfer gold mine.

 

The current drill program, with two rigs in operation, has been designed to
test new targets and follow up previous identified mineralisation. Wishbone
recently announced results from its second diamond drill hole drill which
intersected multiple zones of brecciation and alteration with sulphide
mineralisation starting at around 520m. To ensure that all potential copper
gold intercepts around the shallower diorite dyke are covered, the Company is,
as previously announced, using a Schramm RC rig to complement the work of the
diamond drill rig. Latest activity is focused on diamond drilling at hole 4
after the reverse circulation rig dug the hole to the required depth.

 

Wishbone continues to work closely with Core Drilling Services and ALS
Laboratories in Perth to assess the samples recently collected from holes 1, 2
and 3 at Red Setter and findings will be announced in due course.

 

The results reported in December 2023 confirmed that a significant gold and
copper system was defined with a mineralised strike over 3km.

 

The RNS stated:

 

4(th) December 2023

 

Wishbone Gold Plc

("Wishbone" or the "Company")

 

Mineralisation over 3km strike at Red Setter

 

Wishbone Gold Plc (AIM and AQSE: WSBN) announces an update on the results of
this year's exploration programme and updated modelling efforts at its Red
Setter prospect located in the Paterson Range in Western Australia.

 

The results confirm a significant gold system with a mineralised strike over
3km.

 

The first stage of drilling six holes (as referred to in the announcement of
12 October) to target depths of 400m-500m has been completed. The holes have
been pre-collared to depths up to 342 metres with reverse circulation (RC)
drilling; the RC rig has now been demobilised. These holes will be completed
to their final target depth with a diamond drill rig, with this second stage
of the drill programme expected to take place next year.

 

When these holes have reached their target depths they will be testing new
geophysics targets from airborne MMT, ground ANT and IP surveys completed
earlier this year (Figure 1).  The holes have been drilled across a domal
structure interpreted by Expert Geophysics to be an analogous structural
setting to the world class Telfer Dome Cu-Au system, located only 10km to the
north-east of Red Setter.

 

Select drill holes will now be used for diamond tails and Wishbone's
geophysical consultants remain expectant on their targets.

 

Richard Poulden, Wishbone Gold's Chairman, commented: "Considering Telfer is
one of the largest gold mines in Australia and has an average gold grade of
only 0.5g/t, our experienced consultant geologists are saying that Red Setter
looks highly promising as a gold project of real potential scale and size with
mineralisation now encountered over a 3km strike. We look forward to
continuing this drill programme once the diamond drill rigs mobilise to site
next year."

 

The modelling of last year's drill program (as originally announced on 12
December 2022) shows some high-grade intersected close to surface
mineralisation within wide lower grade intercepts over a strike length of over
3km, (Figure 1) including:

 

·    18m @ 0.49g/t Au and 0.004% Cu from 308m in WRSDD0015

Including 5m at 1.2g/t Au and 0.002% Cu from 319m

·    1m @ 3.73 g/t Au and 0.1% Cu from 191m in WRSDD0015

·    14m at 1.0g/t Au and 0.2% Cu from 266m in WRSDD0008

Including 7m at 2g/t Au and 0.38% Cu from 273m

And 1m at 6.4g/t Au and 0.69% Cu from 273m

·    25m at 0.28g/t Au and 0.11% Cu from 195m in WRSDD0006

Including 1m at 5.4g/t Au and 0.26% Cu from 198m

·    3m at 0.18g/t Au and 0.82% Cu from 166m in WRSDD0006

Including 1m at 0.27 g/t Au and 2.27% Cu from 166m

·    1m at 6.48g/t Au and 15 ppm Cu from 246m in WRSDD0009

·    10m at 0.48g/t Au and 0.03% Cu from 117m in WRSDD0011

Including 1m at 3.2g/t Au and 0.06% Cu from 122m

 

Results in drilling to date have shown minor silicification and veining with
trace sulphides.  Minor elevated Cu to 949ppm was returned in 23RSRC006 at
147m which may be related to the hydrothermal system intersected last year to
the immediate north of this drilling.

Figure 1  Red Setter project drilling and interpreted geology.  Drill traces
show Au >0.2g/t with the magnetics underlain.

 

The mineralised intersections to date are spatially related to a dioritic
intrusive although the connection between the intrusive and the mineralisation
is still being determined.  The veining consisted mainly of quartz, pyrite
and chalcopyrite with some carbonate.  The veining is similar to the ore at
Telfer where the combination of bedding concordant reef veins and discordant
veins have produced a very large gold copper system (>30Moz).  The
extensive zone of hydrothermal activity including wide zones of vein
stockworks is highly encouraging.  There are also strong similarities with
the structural settings, with large anticlinal and domal structures present
that can focus the hydrothermal fluids.  The cover in the area which is
mostly in the range of 50-100m depth means that the full understanding of
these systems requires good geological management and a systematic approach.

 

The timing of the follow-up second phase diamond drilling programme at Red
Setter will be announced prior to commencement early next year. This year was
a late start to the drilling campaign following a cyclone in April that passed
directly over the project.  The first priority for the year was the RC
drilling of the new geophysics targets to the south (Figure 1) and with the
extensive drilling at Cottesloe still underway, it was not possible to
complete any further drilling at Red Setter.

 

 Hole ID     MGA E   MGA N    RL   Dip  Azimuth  Final Depth
 23RSRC001   399792  7586962  288  -70  210      300
 23RSRC002   399901  7587241  288  -60  200      312
 23RSRC003A  399953  7587387  288  -60  200      270
 23RSRC004   400002  7587525  288  -60  200      342
 23RSRC005   400101  7587797  288  -70  200      269
 23RSRC006   399910  7588146  288  -60  200      246

 

For more information on Wishbone, please visit the Company's website.

www.wishbonegold.com (http://www.wishbonegold.com) .

END

For further information, please contact:

 

 Wishbone Gold PLC
 Richard Poulden, Chairman     Tel: +971 4 584 6284

 Cranborne Communications Ltd
 George Hudson                 Tel: +44 7803 603130

 

 

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