RNS - looking closer at what this means…16 Mar 2026 07:54
Wishbone Gold says its 2025 drilling at the Red Setter project in Western Australia found gold and copper mineralisation across about a 4 km geological trend. The drilling results show several zones where gold and copper are present in the rock.
Because of these results, the company plans a larger follow-up drilling programme in 2026 — 25 holes totalling about 9,000 m. They also state that this programme is fully funded, and drilling should start after the rainy season ends around April.
Management is essentially saying:
• Mineralisation has been confirmed and is consistent with previous drilling.
• The geological system could potentially be large.
• A bigger drill programme is planned to test how extensive it really is.
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How positive is this announcement?
Moderately positive, but not a breakthrough.
Positive elements:
• Confirms gold and copper are present.
• Mineralisation extends along a large 4 km trend.
• The 2026 drill programme is funded, which removes funding risk.
• The planned drilling is the largest at the project so far.
Neutral / cautious elements:
• The grades reported are mixed and mostly modest for deep exploration drilling.
• It does not declare a discovery, resource estimate, or major high-grade intercept.
• Much of the language (“potential”, “hallmarks”, “prospective”) is typical exploration wording.
This is encouraging exploration confirmation, but not a transformational discovery announcement. It mainly sets up the 2026 drilling campaign, which is where a major share price catalyst would likely come from. (Overall 6/10).
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