Wishbone Gold Uncovers Shallow Gold Zones at Red Setter

Wishbone Gold (AIM: WSBN, AQSE: WSBN) has reported a potentially significant shallow gold discovery at its Red Setter gold-copper project in Western Australia, with early drilling results prompting the company to expand its 2026 exploration programme.

The AIM-listed explorer said gold mineralisation has been intersected at depths as shallow as 45 metres, marking the shallowest gold discovery made at Red Setter to date. The standout result came from drill hole 26RSRD003, which returned 11 metres grading 0.7g/t gold from 139 metres, including 4 metres at 1.3g/t gold to the end of the hole. Importantly, the hole ended in mineralisation, suggesting the system remains open at depth.

Management described the results as a “game changer” for both the project and the company.

Western Australia Director Ed Mead highlighted that the shallow intercepts compare favourably with the grades currently being processed at Greatland Gold’s nearby Telfer mine, located just 20 kilometres away. He noted that the diamond drilling rig is already extending the successful hole and that the discovery suggests the mineralised system continues to the south-east, where an additional three kilometres of prospective strike has already been identified.

The results come from the first seven reverse circulation holes completed as part of a larger 25-hole drilling programme designed to test extensions of known gold-copper mineralisation along a four-kilometre diorite trend. Fourteen RC pre-collars have now been completed, with diamond drilling continuing on site.

Significant intersections reported include 3 metres at 0.7g/t gold from 45 metres and 11 metres at 0.7g/t gold from 139 metres in hole 26RSRD003, together with 4 metres at 1.3g/t gold from 101 metres in hole 26RSRD006.

The discovery has prompted Wishbone to modify and expand the current programme to focus more heavily on the newly identified shallow gold zones. Additional RC drilling is scheduled to commence when the contractor returns to site in mid-July.

Alongside drilling, the company is evaluating a High Definition Transient Electromagnetic (HDTEM) survey across Red Setter and other targets within its recently acquired exploration ground near the Telfer and Nifty mining operations. The technology is designed to identify conductive mineralised bodies at depth while reducing exploration drilling costs.

With all heritage clearances and regulatory approvals already in place, Wishbone is well positioned to accelerate exploration activity as further assay results, including copper assays, are received over the coming weeks.

The latest results strengthen the investment case for Red Setter, particularly given its location within one of Australia’s most prolific mining districts and the evidence that gold mineralisation remains open both at depth and along strike.