(Alliance News) - Wishbone Gold PLC on Friday said it is set for drilling at Red Setter in western Australia, with detailed access, logistics and drill site planning in the final stages of preparation.
Wishbone said independent consultants have reported that the geochemistry programme recently conducted, although only 60% completed to date, has defined four new high-priority target zones for follow up drilling.
The precious metals explorer has an approval to drill up to 30,000 metres at Red Setter, targeting the magnetic geophysical targets as refined by the geochemistry analysis.
"This work extends and enhances the previous magnetic survey and new technology clearly enhances the magnetic anomaly which shows preceding green drill holes missing our intended deeper targets," said Chair Richard Poulden.
"Unfortunately, this year has been hampered with delays which were out of our control but we are happy to be finally drilling some of our many targets in the coming weeks," added Poulden.
AIM-listed Wishbone shares jumped 37% in early trade on Friday to 11.07 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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