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PERTH - Wishbone Gold Plc (AIM and Aquis:WSBN) announced Thursday that its second diamond drill hole at the Red Setter Gold Dome Project in Western Australia has intersected multiple zones of brecciation and alteration with sulphide mineralization starting at approximately 520 meters depth.
The company described the findings as potentially indicating "a significant geological and mineralization event" at the project, which is located 20 kilometers southwest of Greatland Gold’s Telfer gold mine.
According to the press release, the second drill hole (#25RSDD002) is positioned 200 meters southwest from the first hole (#25RSDD001), where similar breccia was intercepted. The company noted that the second hole shows "significantly more heat alteration (metamorphism)" than the first hole, visible as bleaching events in the rock core.
Wishbone reported having sufficient drill rods on site to extend the second hole to approximately 1,000 meters if warranted. The first hole terminated at 777 meters while still in what the company described as "strong brecciation."
Core samples from the first drill hole are currently at ALS Laboratories in Perth, with sample preparation underway and assay results expected in the coming weeks.
Ed Mead, Wishbone Gold’s Western Australia director, called the early drill results "encouraging" and noted that the mineralization in the second hole was discovered at a shallower depth than expected given its position relative to the first hole.
The Red Setter project is part of Wishbone Gold’s exploration tenements in the region surrounding the Telfer Mine in Western Australia.
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