Wishbone Gold PLC (AIM:WSBN, AQSE:WSBN) shares rose 7.1% to 24.9p after the explorer reported shallow gold mineralisation from the first assay results of its 2026 drilling programme at the Red Setter project in Western Australia.
The company said assays from the first seven reverse circulation drill holes identified gold mineralisation starting at just 45 metres below surface, the shallowest gold intercept recorded at the project to date.
One of the strongest results came from hole 26RSRD003, which returned 11 metres grading 0.7 grams per tonne gold from 139 metres, including four metres grading 1.3 grams per tonne to the end of the hole.
Wishbone said the result suggested mineralisation remains open at depth.
The reverse circulation holes were drilled as 'pre-collars' ahead of a deeper diamond drilling programme, which is now under way.
Director Ed Mead described the results as "a real game changer" for the project, said finding gold starting as shallow as 45m is "amazing" and to see the hole grades was "incredible".
He added that the diamond drill rig on site is now extending the hole and the company is "adapting the drill programme to results and further RC holes have already been added to immediately follow up the shallow gold discoveries".
