RE: RE: Gold at $300020 Mar 2025 07:30
Richard Poulden, Wishbone Gold's Chairman, commented: "These new findings are of crucial importance as they reinforce the fact that Red Setter has a 3km strike with impressive gold grades near surface and a clear picture of the possible origins of the gold and copper deposits. This data provides a key insight in advance of the next stage of the diamond drill program at the site. If this then confirms what we expect and enables us to potentially have an open pit mine combined with a large underground deposit, it would be transformational and an amazing outcome for the Company."
EGL has created a 3D structural model of the MobileMT which show details in and around Red Setter's dome target at depth.
As previously announced on 4th December 2023, Red Setter has a gold and copper strike of over 3km near surface and a deeper "Telfer style" (Figure 3) dome which could be the origin of the near surface mineralisation. The Telfer epigenetic model emphasises the importance of structural controls on mineralisation within the domes. In addition to the initial stage of the data interpretation which revealed the prominent resistive dome structure correlating with the gravity anomaly, EGL has completed a structural analysis of the EM data on both, apparent conductivities at different frequencies and inverted resistivity data versus depths (Figure 1). The delineated lineaments, derived from the EM data, will help emphasise and evaluate geological structures that control mineralisation and assist in drilling planning.
Last year's reverse circulation ("RC") drill collar program penetrated to a depth of 300m with new modelling showing the target at a depth of approximately 550m for the targeted diamond drill program.
Expert Geophysics will be presenting its findings at the Australian Society of Exploration Geophysicists ("ASEG") DISCOVER Symposium 2024 which is being held from Tuesday 15 - Friday 18 October 2024 in Tasmania.
(https://asegdiscover.com.au/).
Figure 1: Showing Structural inversions
The EGL's Fast Inverse Modelling of the magnetic field (Figure 2) shows the southern and northern magnetic anomalies which were previously released on 4th December 2023, which included grades of:
· 18m @ 0.49g/t Au and 0.004% Cu from 308mIncluding 5m at 1.2g/t Au and 0.002% Cu from 319m
· 1m @ 3.73 g/t Au and 0.1% Cu from 191m
· 14m at 1.0g/t Au and 0.2% Cu from 266mIncluding 7m at 2g/t Au and 0.38% Cu from 273m
Figure 2: 3D Inversion showing near surface magnetic targets
Figure 3: A combined picture of Red Setter and Telfer on close to the same scale
Figure 4: Red Setter project drilling and interpreted geology. Drill traces show Au >0.2g/t with the magnetics underlain
The mineralised intersections to date are spatially related to a dioritic intrusive although the connection between the intrusive and the mineralisation is still being determined. The veining co
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