Wishbone Gold PLC (AIM:WSBN, AQSE:WSBN) shares rocketed on Monday after positive results from Red Setter, its gold exploration project located in Western Australia, in the vicinity of Greatland Resources' Telfer and Havieron mine projects.
The explorer said it has intersected a significant breccia pipe, discovered in the first hole of the current programme.
It told investors that zones of 'quartz-carbonate veining and sulphides of chalcopyrite and pyrite' were seen from 520 metres, with brecciation intensifying from 570 metres.
More than 130 metres of breccia have been intersected so far, with drilling ongoing towards a planned total depth of about 750 metres.
“It is outstanding to see the emergence of this mineralised breccia pipe and see the intensity of brecciation and the amount of quartz-carbonate veining and sulphides. This is a fantastic outcome as brecciation typifies a style of gold and copper mineralisation seen at both the nearby Telfer and Havieron deposits,” said Wishbone director Ed Mead.
In London, Wishbone shares were up 76% changing hands at 0.66p.