Wishbone Gold has reported results from its 2025 drilling campaign at the Red Setter project in Western Australia’s Paterson Province, confirming gold and copper mineralisation along a roughly 4km stretch of the Red Setter diorite trend.
The project sits alongside world-class gold assets, just 20km south-west of Greatland Gold’s Telfer mine and 50km east of Cyprium Metals’ Nifty copper operation.
But results from the ongoing drill programme haven’t yet proved that Red Setter is in the same tier as its neighbours, and shares sank over 20% in early trade on Monday.
The 2025 programme comprised seven holes, five targeting the main diorite trend and two testing a geophysical target identified through Mobile Magnetotelluric surveys.
Several holes returned notable intercepts, including 8.36m at 1.09 g/t gold and 0.05% copper from 305m in hole 25RSDD003, with a higher-grade core of 6.13m at 1.47 g/t gold. Elsewhere, hole 25RSRC002 hit 2m at 2.3% copper from 185m, while 25RSDD006 returned 5.76m at 0.66 g/t gold and 0.4% copper from 149m.
These results follow earlier drilling that produced hits such as 7m at 2 g/t gold and 0.38% copper, and spot assays as high as 6.48 g/t gold.
Crucially, the vast majority of the 4km trend remains untested.
On the back of these results, Wishbone has designed a fully funded 25-hole programme totalling around 9,000m for 2026, aimed at testing extensions to the known mineralisation and improving the understanding of structural controls along the trend.
The company expects to mobilise drilling crews once the wet season ends in April.
“Red Setter continues to demonstrate the hallmarks of a significant gold-copper system. With approximately 4 kilometres of prospective strike yet to be systematically drilled, we believe the project has the potential to host a substantial mineralised system.
“The planned 9,000 metre drilling programme in 2026 will be the largest undertaken at Red Setter to date and is designed to rapidly advance our understanding of the scale and continuity of the mineralisation.”