REG - Wishbone Gold PLC - Drilling hits strong alteration at Red Setter

Wishbone GoldAnnouncement

25/09/2025 11:15

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RNS Number : 8419A  Wishbone Gold PLC  25 September 2025

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

25 September 2025

 

Wishbone Gold Plc

("Wishbone" or the "Company")

London AIM & Aquis: WSBN

 

Drilling hits strong alteration with mineralisation at Red Setter Gold Dome
Project in Western Australia

 

Second drill hole step-out 200m south-west from Hole 1 with breccia zone at
520m

 

Wishbone Gold Plc is pleased to announce that drilling at the Company's Red
Setter Gold Dome Project, located 20km south-west of Greatland Gold Plc's (AIM
and ASX: GGP) Telfer gold mine in Western Australia (Figure 1), has now
intersected multiple zones of brecciation and alteration with sulphide
mineralisation starting at around 520m in its second diamond drill hole
(Figures 2-12).

 

Although drilling at this second hole (#25RSDD002) is at an early stage,
Wishbone sees the potential for a significant geological and mineralisation
event at Red Setter.

 

Original expectations for this second hole were that drilling would
potentially intersect the breccia and mineralisation as identified in the
first hole (#25RSDD001) at a much deeper depth, as the step-out is 200m
south-west from the breccia intercept in the first drill hole.

 

The second drill hole geology has showed significantly more heat alteration
(metamorphism) than the first drill hole. Metamorphism is seen in the rock
core as bleaching events that destroys the colour of the original sediments,
which may grade in places to metasomatism due to hydrothermal alteration.
Further drilling will define the scale of the system and the types of
alteration to be assessed.

 

There are enough drill rods on site to drill this hole to around 1,000m should
this second hole merit it. The first hole terminated at a depth of 777m still
in strong brecciation.

 

The first drill hole core samples are at ALS Laboratories in Perth and have
been cut, with sample preparation underway. Assaying will begin shortly and
results expected in the coming weeks.

 

Ed Mead, Wishbone Gold WA director, commented: "These are encouraging early
drill results. The depth of breccia, alteration and mineralisation in this
second hole was expected to be much deeper than the mineralised breccia
intercept from drill hole 1, as we are sitting downhole 200m south-west of the
mineralised breccia seen in hole 1 at 550m depth. What we are seeing now from
depths of around 560m to the current hole depth at 581m, indicates that there
has been a significant geological and mineralisation event at Red Setter.
Drilling continues and I look forward to presenting further updates on
progress shortly."

 

Figure 1: WSBN Red Setter Project (Red) and Exploration Tenement applications
(Blue) immediately surrounding the Telfer Mine.

 

 

Figure 2: Fracture in siltstone filled with pyrite, with fly for scale. (Core
at 548.50m)

 

Figure 3: Fractures in siltstone and sandstone are filled with pyrite and
trace chalcopyrite. (Core at 552.20m)

 

 

Figure 4: Breccia texture within deformed siltstone containing pyrite. (Core
from 559.17m - 560.53m)

 

 

Figure 5: Pyrite with chalcopyrite in sandstone. (Core at 561.5m)

 

Figure 6: Metamorphism of the siltstone and sandstone creating more glassy and
bleached appearance, with pyrite sulphide. (Core from 571.7m

 

 

Figure 7: Metamorphism of the siltstone and sandstone creating more glassy and
bleached appearance, with carbonate vugs cross cutting bedding. (Core from
573m

 

 

Figure 8: Metamorphism and bleaching of sediments from 577.6m, then from 578.8
massive coarse grained carbonate vein with minor quartz concentrated on the
edges of the vein. There is fine grained disseminated pyrite on the surfaces
of vugs within the vein. (Core from 575-580m)

 

Figure 9: Metamorphism, with pyrite and bleaching of the core at 577.7m.

 

 

Figure 10: Massive coarse grained carbonate vein with minor quartz
concentrated on the edges of the vein. There is fine grained disseminated
pyrite on the surfaces of vugs within the vein. (Core at 579m)

 

 

Figure 11: Massive coarse grained carbonate vein with minor quartz
concentrated on the edges of the vein. There is fine grained disseminated
pyrite on the surfaces of vugs within the vein. (Core at 579.6m)

 

 

Figure 12: Metamorphism and foliation overprint starting to remove bedding
within the sediment, including pyrite in core at t 577.3m.

 

 

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

 

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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