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24.75 1.50 (6.45%)

Bid:

24.50

Ask:

25.00

Spread: 0.50 (2.041%)

Market Cap: £9.40m

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Wishbone Gold to start reverse circulation drilling at Red Setter

Fri, 17th Oct 2025 11:41

(Alliance News) - Wishbone Gold PLC said on Friday it will start reverse circulation drilling at its Red Setter Gold Dome project on Tuesday next week.

The miner with projects in Western Australia said the reverse circulation rig, which is from Core Drilling Services, has been contracted for an initial 5,000 metres of drilling.

Shares in Wishbone fell 14% to 1.20 pence on Friday morning in London.

Wishbone Gold said diamond drilling on hole two was completed at 950 metres and has now moved to a planned 500-metre deep drill hole.

The core will be dispatched shortly for cutting and assay.

Wishbone Gold said the reverse circulation rig has pre-collars generating more target angles into the Red Setter Dome.

It also has additional water bores to supply water for double shifting diamond drilling and targeting shallower copper gold intercepts.

Wishbone Gold's WA Director Ed Mead said: "Diamond drilling is now on double shift and with the Reverse Circulation drill rig arriving this weekend we are ramping up activities to expedite exploration.

"I look forward to the results arriving soon from the first drill hole, and while we await these results, we have sent the diamond rig to nearby hole 3 to investigate past findings. I look forward to presenting further updates on progress shortly."

By Roya Shahidi, Alliance News reporter

Comments and questions to newsroom@alliancenews.com