Wishbone Gold (LSE:WSBN) has confirmed the presence of gold and copper mineralisation along an approximately 4km diorite trend at its Red Setter Project in Western Australia, following assay results from its 2025 drilling campaign. The latest results include several notable intercepts and point to a large hydrothermal system consistent with earlier drilling, indicating widespread mineralisation across the project area that remains only partially explored.
Building on these findings, the company has outlined a fully funded 2026 drilling programme comprising 25 holes and around 9,000 metres of drilling. The campaign will target extensions of known mineralised zones, test continuity along the diorite trend and improve understanding of the structural controls influencing the system. Management said the programme will represent the most extensive drilling effort undertaken at Red Setter so far and is intended to accelerate progress at the project while reinforcing Wishbone’s position in a highly prospective gold-copper region.
Despite encouraging exploration progress, the company’s broader outlook remains constrained by weak financial fundamentals. Wishbone remains pre-revenue, with ongoing losses and negative free cash flow, although there has been some improvement in financial metrics. Technical indicators are mixed, showing neutral momentum without a clear directional trend, while valuation measures remain limited due to negative earnings and the absence of dividend yield data.
More about Wishbone Gold
Wishbone Gold Plc is an exploration company listed on both the London AIM market and the Aquis Exchange, focused on developing gold and copper projects. Its flagship asset is the Red Setter Project in Western Australia’s Paterson Province, a region known for major mineral discoveries. The company targets large-scale mineralised systems near established operations such as Greatland Gold’s Telfer gold mine and Cyprium Metals’ Nifty copper mine.
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