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PERTH - Wishbone Gold Plc (AIM & Aquis:WSBN) announced Monday it has secured a second drill rig for its Red Setter Gold Dome Project in Western Australia, expanding exploration efforts following its recent £4 million fundraise.
The company has contracted a Schramm T685i Reverse Circulation (RC) drill rig from Core Drilling Services for an initial 5,000 meters of drilling. The truck-mounted rig, capable of drilling to depths exceeding 700 meters, will complement the diamond drill rig already on site.
According to the company’s statement, the RC rig will begin operations in the third week of October. The addition aims to speed up the drilling process by allowing the diamond drill rig to bypass overburden drilling, which the company described as "very time consuming."
Ed Mead, Wishbone Gold’s Western Australia director, said the RC rig will be used for pre-collars for diamond tail drilling, water bores, and follow-up work on shallower gold mineralization discovered during 2023 drilling programs, where gold and copper mineralization was reportedly found at depths starting from 117 meters.
The company indicated that drilling continues in the current diamond hole #25RSDD002, which can be drilled to a depth of approximately 1,000 meters if necessary.
Wishbone Gold’s Red Setter project is located near the Telfer Mine in Western Australia. The announcement was made in accordance with the company’s Market Abuse Regulation disclosure obligations, as stated in the press release.
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