Wishbone Gold Plc announced an update on the results of this year's exploration programme and updated modelling efforts at its Red Setter prospect located in the Paterson Range in Western Australia. The results confirm a significant gold system with a mineralized strike over 3km. The first stage of drilling six holes to target depths of 400m-500m has been completed.

The holes have been pre-collared to depths up to 342 metres with reverse circulation (RC) drilling; the RC rig has now been demobilised. These holes will be completed to their final target depth with a diamond drill rig, with this second stage of the drill programme expected to take place next year. When these holes have reached their target depths they will be testing new geophysics targets from airborne MMT, ground ANT and IP surveys completed earlier this year.

The holes have been drilled across a domal structure interpreted by Expert Geophysics to be an analogous structural setting to the world class Telfer Dome Cu-Au system, located only 10km to the north-east of Red Setter. Select drill holes will now be used for diamond tails and Wishbone's geophysical consultants remain expectant on their targets. Results in drilling to date have shown minor silicification and veining with trace sulphides.

Minor elevated Cu to 949ppm was returned in 23RSRC006 at 147m which may be related to the hydrothermal system intersected last year to the immediate north of this drilling. The mineralized intersections to date are spatially related to a dioritic intrusive although the connection between the intrusive and the mineralization is still being determined. The veining consisted mainly of quartz, pyrite and chalcopyrite with some carbonate.

The veining is similar to the ore at Telfer where the combination of bedding concordant reef veins and discordant veins have produced a very large gold copper system (>30Moz). The extensive zone of hydrothermal activity including wide zones of vein stockworks is highly encouraging. There are also strong similarities with the structural settings, with large anticlinal and domal structures present that can focus the hydrothermal fluids.

The cover in the area which is mostly in the range of 50-100m depth means that the full understanding of these systems requires good geological management and a systematic approach.