Wishbone Gold PLC (AIM:WSBN, AQSE:WSBN) said modelling and exploration at the Red Setter prospect in the Paterson Range in Western Australia has confirmed a significant gold system with a mineralised strike over 3km.
First-stage drilling (six holes) to target depths of 400-500 metres (m) has been completed with intercepts of 18m at 0.49% gold, 14m at 1% and 7m at 2% the best of the results.
Select drill holes will now be used for diamond tails and Wishbone said its geophysical consultants remain expectant on their targets.
Richard Poulden, Wishbone Gold's chairman, added: "Considering Telfer is one of the largest gold mines in Australia and has an average gold grade of only 0.5g/t [grams per tonne], our experienced consultant geologists are saying that Red Setter looks highly promising as a gold project of real potential scale and size with mineralisation now encountered over a 3km strike.”