Wishbone Gold signs rig contract for Red Setter drilling
By Josh White
Date: Tuesday 03 May 2022
(Sharecast News) - Wishbone Gold has signed a contract for the drilling of its Red Setter Gold-Copper Project in the Patersons Range area of Western Australia, it announced on Tuesday.
The AIM-traded firm said the project is located on the 57.4 square kilometre wholly-owned exploration licence EL45/5297, 13 kilometres south-west of Newcrest Mining's Telfer Gold-Copper Mine and 60 kilometres west of Newcrest and Greatland Gold's Havieron gold-copper discovery.
It said the first phase of the contract would be for 3,000 metres of drilling at Red Setter, with the second phase for a further 7,000 metres split between Wishbone's Red Setter Project and its Cottesloe Project to the south.
The track-mounted drilling rig is a multi-purpose rig, capable of 150 metre reverse circulation, and diamond core to 1,200 metres.
"We are very pleased to have finally secured this specialist drill rig for our long awaited Red Setter drilling programme," said chairman Richard Poulden.
"All exploration companies have found it difficult to secure drilling services in Western Australia, especially with the Covid-19 restrictions in the state over the last year and the competitive backdrop experienced for miners and explorers in the current mineral exploration boom.
"We are hopeful of having the rig on site and drilling at Red Setter before the end of May."
At 1228 BST, shares in Wishbone Gold were up 5.63% at 8.35p.
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