In this video Wishbone's Chairman Richard Poulden highlights that the company has only completed part of the 2026 drill programme with lots more planned.
Given recent assay results at Red Setter he sees no reason to believe that the positive momentum shouldn't continue.
#WSBN #Gold #Copper #Exploration #Mining #WesternAustralia #RedSetter
In this video Wishbone's Director of Western Australia operations Ed Mead covers off what makes a gold mine economic in relation to this week's Red Setter assay results announcement.
He highlights that the company is extending the drill area and that the historic grades extracted at Telfer are lower than those Wishbone has just intercepted.
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In this video Wishbone's Chairman Richard Poulden highlights that Expert Geophysics said Red Setter is an analogue of the neighbouring Telfer mine - with the assay results announced this week by Wishbone suggesting they are right.
#WSBN#Gold#Copper#Exploration#Mining #WesternAustralia #RedSetter
Wishbone’s Chairman Richard Poulden and Director of Western Australia Operations Ed Mead share their thoughts on this week’s Red Setter announcement giving more context, background and details about the assay results.
#WSBN#Gold#Copper#Exploration#Mining#WesternAustralia
https://t.co/mncd65vp9O
This morning we have announced that highly positive gold assays have been returned from the first of the assay results received from the shallow Reverse Circulation (“RC”) drilling at our Red Setter gold-copper project.
These newly discovered shallow gold zones at Red Setter are a major vindication of our strategy and provide a material enhancement to the prospects and outlook of the project.
The shallowest gold mineralisation intercept at Red Setter to date starts at 45m in drill hole 26RSRD003 which ended in mineralisation with [email protected]/t Au from 139m, including [email protected] g/t Au to end of hole at 150m, highlighting gold mineralisation is open at depth here. These are higher grades than Telfer is mining.
The diamond drill rig is now extending this drill hole, which is the most southern drill hole Wishbone has drilled to date.
Ed Mead, Wishbone Gold WA director, commented:
“The gold assay results from the first seven RC drill holes are terrific and a real game changer for Red Setter and the Company. To find gold starting as shallow as 45m is amazing and to see the hole grading [email protected]/t gold that was still in mineralisation is incredible. In the first three months of this year, Telfer processed 4.82Mt at 0.59g/t Au and 0.1% Cu, so we are above the head grade for gold mineralisation. The diamond drill rig on site is now extending the hole. This hole indicates the gold system is open to the south-east, where all heritage clearances are complete and an additional 3km of potential strike has been added on top of the 4km diorite target."
To read the full announcement:
https://t.co/2fpUht6Yxi
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Figure 1: WSBN Red Setter Project (Red) and Exploration Tenement applications (Blue) immediately surrounding the Telfer Mine, with new access road application to Nifty Copper Mine
It was great to see this visitor at Red Setter yesterday.
The camels in the Paterson Range are feral dromedaries (Arabian camels).
Originally imported in the 1800s to aid explorers and transport supplies across the harsh Outback, the local herds are the descendants of those released into the wild once motorised transport took over.
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Further to our announcement on 20th April, we have provided an update to the stock market this morning on the activity at Red Setter.
The first phase of the 2026 drilling contract started on 5th May with the reverse circulation (“RC”) rig. The initial focus is to drill approximately 25 holes for ~3,500m with the RC rig, of which 14 holes for 2,182 metres has been completed.
The second phase of the contract covering a further 4,500m of diamond drilling started on 27th May, and two holes for 687 metres has been drilled and the drill programme as a whole is targeting depths from surface of up to depths of 600 metres along an identified gold-copper system.
Activities to date on site have progressed as initially planned and samples are being sent to Perth for assay testing on an ongoing basis, with initial results expected before the end of July.
In addition, the final report following the heritage survey on the proposed new access road from the Nifty mine and airport to Red Setter has been completed and we expect to be granted permission to progress the road's construction on the grant of the required Miscellaneous Licence. The heritage report has also given approval to relocate the support camp and accommodation to Red Setter which will occur once Wishbone has approvals to create the new access road.
Richard Poulden, Wishbone Gold’s Chairman, commented:
“Activity on the ground at Red Setter over the last month has been as expected, with the team making excellent progress with the initial RC drilling program and now the diamond drilling. We are on track to complete the 9,000m of drilling in this first phase of the 2026 programme and look forward to updating the market on initial assay results in due course. The results from the overall drill programme will establish the pattern of mineralisation at the project and guide our team for the next phase of drilling in the later part of 2026.”
To read the full announcement:
https://t.co/aB7WFZxP1u
#WSBN #Copper #Gold #Mining #Exploration #WesternAustralia
At Red Setter we are using reverse circulation drilling and diamond drilling. The reason for using both techniques is that diamond drilling provides detailed structural data, while RC drilling is faster, captures bulk samples, and is cheaper.
Diamond drilling extracts an intact cylindrical rock core for precise geological analysis, whereas RC drilling uses compressed air to pulverize the rock and bring dry rock chips to the surface.
Diamond drilling is best for detailed structural analysis, identifying fault lines, testing rock strength, and mapping exact mineral boundaries, whereas RC drilling is best for rapid bulk sampling, geochemical analysis and assaying large volumes.
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Activity continues apace with the diamond drill rig at Red Setter targeting depths up to 400m. As with the RC work the purpose of the 25 hole programme is to:
• Test extensions of known gold–copper mineralisation
• Evaluate continuity along the 4km diorite trend
• Improve understanding of structural controls on mineralisation
• Target zones of strongest alteration and sulphide mineralisation
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The first hole in the new 4,500m diamond drill contract is underway at Red Setter, this is in addition to the 3,500m of RC drill programme which is making good progress.
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The team at Red Setter carry out a range of tasks with the reverse circulation kit including: controlling the draw works, rotation, and high-pressure air systems of the drill rig enabling it to reach target depths.
Also ensuring the rapid collection of uncontaminated rock chip samples which geologists use for grade control and resource evaluation.
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Following our announcement of 9 April 2026, we are exercising our exclusive option to acquire the Silver Lake Project, the high-grade silver project in the ideally located Carnarvon Basin of Western Australia.
As previously announced, historic rock chip sampling has reported multiple very significant silver ("Ag") results across a number of project areas, including 847g/t Ag at Tarrawarra 1; 410g/t Ag at Cardabia Creek 7 to name a few.
The stratigraphic nature of mineralisation has significant scale potential, with prospects identified up to 4.7 km from potential causative fault structures. Current models suggest a 35km long by 10km wide basin.
“As mentioned before, we believe Silver Lake has the potential to be a high value opportunity which complements our exploration work at Red Setter and gives us an exciting project that we can work all year round. Silver Lake broadens the Company’s commodity exposure in the precious metals and strengthens its exploration pipeline. Historic drilling and chip sampling has identified very promising shallow silver mineralisation along a 35km corridor. The historical data highlights the multiple opportunities for follow-up exploration, and this exciting project reinforces our commitment to the Tier-1 mining jurisdiction of Western Australia.”
Richard Poulden, Wishbone Gold’s Chairman
https://t.co/jnVd4LYEbv
#WSBN #Silver #Mining #WesternAustralia #Exploration
The Red Setter reverse circulation (“RC”) drilling continued today and has made good progress since the drill program started on Tuesday.
It is a powerful rig and the experienced crew know how to handle the ground. The plan is to drill 3,500m with the RC kit.
The second phase for a further 4,500m of diamond drilling targeting depths of up to 400m will start shortly.
#WSBN #Gold #Copper #Mining #Pilbara #Paterson #WesternAustralia