RCS - Wishbone Gold PLC - Red Setter Gold Dome pre-drill visit completed

Wishbone GoldAnnouncement

02/06/2025 08:45

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RNS Number : 9781K  Wishbone Gold PLC  02 June 2025

 

 

 

 

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 25(th) 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.

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

For further information, please contact:

 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

 Tavira Financial Limited
 (Broker)
 Chris Kipling                                             Tel: +44 20 3833 3742

 

 

 

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