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(Sharecast News) - Wishbone Gold announced on Monday that a second drill rig for its Red Setter gold-copper project in the Paterson's Range area in Western Australia was now on site and drilling 230 metres from the first rig.
The AIM-traded firm said DDH1 Drilling, with "extensive" drilling experience in the area, would mud rotary drill through the Permian cover to a depth of about 130 metres, and then diamond drill through to the target zones identified by magnetic modelling.
It said Red Setter is situated on the 57.4 square kilometre wholly-owned exploration licence EL45/5297, 13 kilometres south west of Newcrest Mining's Telfer gold-copper mine and 60 kilometres west of Newcrest and Greatland Gold's Havieron gold-copper discovery.
"DDH1 Drilling knows the ground conditions well in the Paterson's Range following extensive experience at Havieron, from initial discovery to current operations," said chairman Richard Poulden.
"We are also in the process of extending heritage approved areas at Red Setter with a further survey to start towards the end of August.
"We are also discussing plans for a gravity survey which can detect mineral composition through varying rock density - this is an exciting time for Wishbone."
At 1128 BST, shares in Wishbone Gold were up 8.29% at 14.24p.
Reporting by Josh White at Sharecast.com.
