Wishbone Gold PLC (AIM:WSBN, AQSE:WSBN) shares jumped 11% on a bullish update on its exploration at the Red Setter prospect in Paterson, Western Australia.
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.
“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,” said chairman Richard Poulden.
Exploration now will be diamond drilling on selected holes in the programme to test mineralisation at lower depths.
Shares rose 0.2p to 1.95p.