18th Aug 2025 14:16
(Alliance News) - Wishbone Gold PLC shares soared on Monday, after the gold miner announced the finding of "significant" brecciation at its Red Setter Gold Dome Project.
The stock more than doubled to trade at 1.0 pence on Monday afternoon in London. It has risen 58% over the last 12 months.
Western Australia-focused Wishbone said drilling at Red Setter reached the top of "a significant breccia pipe" in the first hole, 25RSDD001. Variable intensity of brecciation was observed over an interval exceeding 130 metres, from around 570 metres.
Zones of quartz-carbonate veining and sulphides of chalcopyrite and pyrite were observed from 520 metres, with increasing intensity towards around 570 metres.
Wishbone's Western Australia Director Ed Mead commented: "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."
Wishbone said drilling in the 25RSDD001 hole is ongoing, and that it plans to "continue down" to a total depth of approximately 750 metres.
Once this current drill hole is complete, it said, a step out hole will be collared from surface to the south-west of 25RSDD001, to assess the beccia zone's lateral extent.
Subsequently, Wishbone said it intends for the hole to be drilled deeper later on in the current programme, once its contractor has mobilised additional drill pipe at the site.
"Transport of the core to Perth to be cut and assayed will now be expedited," the company added. Mead said this next step was "a priority".
"We look forward to updating shareholders as we further test this exciting target," he added.
By Emma Curzon, Alliance News reporter
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