Wishbone Gold shares fall as new access road application kicks off

(Alliance News) - Wishbone Gold PLC on Monday said it has applied for a new access road between its Red Setter gold dome project and the Nifty copper mine, as it noted the year has "provided many challenges" in completing drill holes at its flagship project.

Shares in Wishbone Gold fell 22% to 52.00 pence on Monday afternoon in London.

The miner with projects in Western Australia said it applied for an approximately 30-kilometre access road between the two projects, with a licence now in process for grant early next year.

Wishbone Gold said the completed road will enable easier navigation, better access to accommodation and other resources, and provide "considerable" cost savings.

A heritage survey of the new road has been booked for April 2026, the company said.

Providing a drilling update, the miner noted that a final 300-metre-deep drill hole is underway before a break for Christmas.

It added that three drill holes have been cut and sampled, with a fourth hole to start cutting shortly. Assay results are expected over the next few months.

"This year has provided many challenges in completing RC and diamond drill holes to date, and this new access road will make a tangible improvement to our ability to execute our drill program in an efficient manner," said Ed Mead, Wishbone Gold's WA director. "Currently we have to source and provide for everything on a remote site basis from Perth, Port Hedland or Marble Bar which is inefficient.

"The plan is to receive all assay results and then restart drilling on site when the summer wet season is over. We are extremely happy with what we have seen in drill core to date and need the assays to quantify our enthusiasm for the Red Setter project."

By Roya Shahidi, Alliance News reporter

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