Wishbone Gold Mobilises Drill Rig for 9,000m Red Setter Campaign in WA

Wishbone Gold ( (GB:WSBN) ) has shared an update.

Wishbone Gold has begun mobilising a reverse circulation drill rig from Perth to its Red Setter project in Western Australia, marking the start of a 2026 drilling campaign near the Telfer gold and Nifty copper mines. The first phase will comprise about 3,500 metres of RC drilling, followed in roughly three weeks by 4,500 metres of diamond drilling, with all rigs track-mounted to improve on-site mobility.

The 25-hole, 9,000-metre programme is designed to test extensions of known gold-copper mineralisation, assess continuity along a 4km diorite trend and refine understanding of structural controls at Red Setter. A completed heritage survey for a proposed new access road from Nifty to Red Setter underscores the project’s advancing infrastructure, with results due in three to four weeks and potential implications for future logistics and development planning.

Spark’s Take on WSBN Stock

According to Spark, TipRanks’ AI Analyst, WSBN is a Neutral.

Overall score is held back primarily by weak financial performance (pre-revenue, ongoing losses, and negative free cash flow despite some improvement). Technicals are mixed with a neutral momentum profile and no clear trend, while valuation is limited by a negative P/E and lack of dividend yield data.

To see Spark’s full report on WSBN stock, click here.

More about Wishbone Gold

Wishbone Gold Plc is a London AIM and Aquis-listed exploration company focused on gold and copper assets, with a key project at Red Setter in Western Australia’s Paterson Province. The project lies close to major operations including Greatland Gold’s Telfer gold mine and Cyprium Metals’ Nifty copper mine, highlighting its exposure to a well-established mining district.

Average Trading Volume: 827,965

Technical Sentiment Signal: Sell

Current Market Cap: £9.67M

For an in-depth examination of WSBN stock, go to TipRanks’ Overview page.