Wishbone Gold shares fall despite gold-copper confirmation

(Alliance News) - Wishbone Gold PLC on Monday said delayed drilling results confirm gold and copper mineralisation at its Red Setter project in Western Australia.

The Western Australia-focused mining company said its 2025 drilling campaign has confirmed the presence of gold and copper mineralisation within the Red Setter diorite trend, which extends for approximately 4 kilometres.

Wishbone said "significant intercepts" included 8.36 metres at 1.09 grams per tonne of gold, and 0.05% copper from 305 metres. This particular intercept included 6.13 metres at 1.47 g/t of gold and 0.06% Cu from 305 metres.

It added that results are consistent with previous drilling, and indicate a large mineralised hydrothermal system.

"These assay results further support the potential for the project to host a large-scale mineralised system within one of Australia's most prospective gold-copper provinces," Wishbone said.

The miner is planning a further drilling programme of around 9,000 metres for 2026 "to follow up on these encouraging results and to test extensions of the mineralised system," and said it is "well funded" for the task. It is "actively working" to mobilise drilling crews "as soon as practicable once the rainy season ends in April."

Wishbone Gold WA Director Ed Mead commented: "We appreciate that publishing these results has taken longer than expected however, with a streamlined drilling approach and improved assay turnaround times planned for the 2026 programme, we expect to generate more regular exploration updates as we continue to advance the exciting Red Setter Project."

Shares in Wishbone, however, plummeted 31% to trade at 45.10 pence on Monday afternoon.

By Emma Curzon, Alliance News reporter

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