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PERTH - Wishbone Gold Plc (AIM and AQSE:WSBN) has confirmed that a significant gold and copper system with mineralisation extending over a 3-kilometer strike length exists at its Red Setter Gold Project, located 20 kilometers southwest of the Telfer gold mine in Western Australia.
The company is currently operating two drilling rigs at the site as part of its ongoing exploration program. A diamond drill rig is being used alongside a Schramm reverse circulation (RC) rig to test new targets and follow up on previously identified mineralisation.
According to a company statement based on a press release, the project has shown promising results from previous drilling completed in 2023, which revealed several notable gold and copper intersections, including 14 meters at 1.0g/t gold and 0.2% copper from 266 meters depth, with a higher-grade section of 7 meters at 2g/t gold and 0.38% copper.
Other significant findings from the 2023 program included 18 meters at 0.49g/t gold from 308 meters depth and a high-grade intersection of 1 meter at 6.48g/t gold from 246 meters in another drill hole.
The company is currently focusing on diamond drilling at hole 4 after the RC rig completed drilling to the required depth. Samples from holes 1, 2, and 3 are being assessed in collaboration with Core Drilling Services and ALS Laboratories in Perth, with results to be announced when available.
The Red Setter project's geological structure has been interpreted as analogous to the Telfer Dome copper-gold system, one of Australia's largest gold mines, which operates with an average gold grade of 0.5g/t.
Wishbone Gold's exploration at Red Setter is part of a systematic approach to understand the geological structures beneath surface cover that typically ranges from 50 to 100 meters in depth.
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