Wishbone Gold PLC (AIM:WSBN, AQSE:WSBN) shares climbed 14% in Thursday's trade after the explorer announced the latest results from its Red Setter project, adding to recent bullishness over the project.
In the same neighbourhood, in Western Australia, as the mines owned by Greatland Resources the project has been closely followed by a cohort of London investors.
Today, Wishbone reported that it had expanded the breccia pipe interval to 152 metres, within a broader 257-metre zone of mineralisation, with a drill (to a depth of 777 metres) intersecting 'quartz-carbonate veining with chalcopyrite and pyrite'.
The company noted that the drill rig was paused at the current depth pending delivery of additional rods that will allow further drilling to 1,000 metres and deeper.
"We decided to call it a day for now at 777m depth in this first hole at Red Setter as we await the delivery of more drill rods to site to drill deeper safely," said Wishbone director Ed Mead.
"Depending on what we see in the second hole, we will be in a position to extend the depth of this first hole later on in the programme.
"The drill rig will now be setting up on a step-out hole to test the breccia pipe more towards the centre of the system.
"The plan is to drill the top of the second hole with a rotary mud bit to a depth of approximately 150m before setting casing and drilling on with PQ diamond core followed by narrower NQ core to final depth."
The company also noted that it would consider running a 'double shift' on the rig, to further expedite the project.
In London, Wishbone shares were up 16% changing hands at 1.1p, valuing the explorer at just under £30 million.
Wishbone is up around 200% on AIM this week so far.