Member Info for 5085

Small trades are generally a combination of retail orders and market maker inventory management. Market makers use these trades to keep spreads tight and liquidity available. The volumes themselves often don’t indicate institutional positioning, since institutional trades are usually much larger and more structured.

Many modern online brokerages offer commission free trading, meaning that small trades executed by retail investors do not incur traditional broker fees or stamp duties in some jurisdictions (though in the UK there’s usually a stamp duty reserve tax on shares, except for certain cases).

Summary of Exploration Licence Activity (Ex-Road)

What licences have been applied for

Wishbone Gold has applied for 12 new exploration licences in Western Australia.

The applications cover a combined area of approximately 174 km².

These applications increase Wishbone’s landholding in the region by roughly 400%.

The ground was described as vacant tenure at the time of application.

Where the licences are located

The licences are immediately surrounding the Red Setter project area.

They lie within the Telfer mining district, with several blocks located within a few kilometres of the Telfer gold mine.

The ground forms a contiguous or near-contiguous extension around existing Wishbone tenure rather than isolated satellite blocks.

In practical terms, the applications consolidate control over the broader geological and structural setting of Red Setter.

Likely reasons for the licence applications

District-scale geological interpretation

Recent drilling and geophysics support a large, structurally controlled Au–Cu system rather than a small, discrete target.

Securing surrounding ground protects potential lateral extensions, structural corridors, and parallel targets.

Defensive land positioning

By pegging vacant tenure, Wishbone prevents competitors from acquiring ground that could host:

extensions of the Red Setter system, or

standalone but genetically related targets.

Near-mine strategic optionality

Proximity to an operating gold mine increases the strategic and economic value of any discovery.

Even non-standalone discoveries can become attractive in a near-mine context.

Target pipeline creation

A larger licence footprint allows:

multiple drill targets,

staged exploration programs,

and optionality for joint ventures or asset-level transactions.

Consistency with confidence in the core project

Junior explorers typically expand tenure after technical confidence improves.

The timing of these applications aligns with confirmation of a large, deep hydrothermal system at Red Setter.

Bottom-line interpretation

The exploration licence applications are best interpreted as a confidence-driven consolidation of a district-scale land position, designed to secure geological upside and strategic leverage around Red Setter and the broader Telfer area—not as speculative or opportunistic pegging.

The impatient are always shouting for news, these are not after news in a general sense, they want good news. I wonder why they never say as much lol

How Paterson operators typically handle assays (early stage)

There are two common models in the Paterson:

Model A — “Drip-feed” (used by majors / tier-1 juniors)

Used by groups like early Havieron and Telfer operators.

Characteristics:

Strong lab priority

High budget

Continuous drilling

Regular assay batches released every 4–8 weeks

This model sets market expectations, but it is not the default for smaller explorers.

Model B — “Batch, interpret, then release” (very common for juniors)

This is the model Wishbone is using.

Characteristics:

Large assay batches

Results released once interpretation is defensible

Deliberate avoidance of partial numbers

Reporting cadence measured in months, not weeks

This model is entirely normal in the Paterson for:

First-pass deep drilling

Concept-testing programmes

Breccia systems under cover

Why Wishbone’s approach specifically fits Paterson norms

Wishbone has explicitly signalled:

Thousands of assays (RC + DD)

Multi-element + gold fire assay

Deep diamond core

Desire to collate all results before restarting

In Paterson context, that usually means:

Waiting for structural + geochemical coherence

Avoiding “headline intercepts” that may later be misleading

Protecting credibility in a technically sophisticated province

From a technical geology perspective, this is sensible.

Where Wishbone differs (important nuance)

What is normal, but not ideal from a market perspective:

Longer silence between updates

Less interim disclosure

Fewer “progress” assay releases

Majors can afford transparency because:

One weak hole doesn’t hurt them

They have statistical depth immediately

Juniors often choose caution because:

One misread intercept can permanently damage credibility

Paterson investors expect quality over speed

Bottom line

Is Wishbone’s assay approach normal for the Paterson?

Yes — particularly for a junior explorer testing a deep breccia system.

3. Integrated vertical model (historical + 2025 core)

When historical drilling and 2025 cores are combined, a coherent picture emerges:

Depth zone Geological character Interpretation

130 m.

• Vertical continuity over >350 m from upper breccias to deep feeder fractures.

• Open at depth and likely open laterally.

• Geological style consistent with large Paterson Province Au–Cu systems.

Remaining unknowns

• Gold and copper grades at depth (assays pending).

• Lateral continuity of the breccia bodies.

• Whether higher-grade cores exist offset from current drill traces.

Report taking recent core samples and historical drilling results into account.

Below is a single consolidated summary report integrating all historical drilling results with the full set of recent deep core observations (August–October 2025), including the additional breccia–chalcopyrite samples you have now provided. The focus is geological continuity, scale potential, and commercial implications.

I am treating all recent core as coming from the 2025 deep diamond drilling on the Red Setter acreage operated by Wishbone Gold.

________________________________________

1. Consolidated geological dataset

1.1 Historical drilling (pre-2025) – what was already known

Key outcomes

• Confirmed Au–Cu fertility through multiple gold and copper intercepts (2022 diamond drilling).

• Mineralisation expressed as breccias, quartz–carbonate veining, sulphides (pyrite ± chalcopyrite).

• Drilling largely shallow to moderate depth, insufficient to test the interpreted core of the system.

• Geophysics indicated a much larger structure than had been drilled.

Limitation

• No definition of scale or continuity.

• No testing of the deeper structural architecture now known to exist.

This left Red Setter as a proven hydrothermal system with unresolved size potential.

________________________________________

2. Recent deep core observations (2025) – full integrated interpretation

You have now provided two vertically distinct but genetically linked mineralised intervals:

________________________________________

2.1 Upper deep interval: ~570 m to ~700 m

Observed features (Figures 5–8):

• Breccia with chalcopyrite + pyrite sulphides

o 627–632 m

o 642–646 m

• Quartz–carbonate veining with breccia and sulphides

o 690–700 m

• Composite breccia intercepts from ~570 m to ~650 m

Technical significance

• Presence of chalcopyrite, not just pyrite, confirms copper-bearing hydrothermal fluids, not barren sulphidation.

• Breccia + quartz–carbonate veining is characteristic of high-fluid-flux zones, typically proximal to mineralised centres in Paterson-style systems.

• The thickness (~130 m+) and repetition of brecciation suggests:

o A major structural conduit

o Multiple mineralising pulses

This interval represents a strong candidate for the outer to mid zones of an Au–Cu system.

________________________________________

2.2 Lower deep interval: ~850 m to ~950 m (EOH)

Observed features (Figures 1–4):

• Pyrite veins and fracture-controlled sulphides at:

o 850.75 m

o 855–856 m

o 866–870 m

o 943–950 m (EOH)

Technical significance

• Demonstrates vertical persistence of sulphide-bearing structures over ~100 m.

• Indicates the system remains open at depth, with no geological “cut-off”.

• Likely represents:

o Either a lower structural level of the same system, or

o A deeper feeder zone beneath the breccia-dominant interval above.

Importantly, mineralisation continues to end-of-hol

If you want an idea of what is in the ground.

Take core sample images, they are in RNS’s, with the supplied titles and put these into ChatGPT requesting a full and comprehensive geological assessment. Fig 8 is the most revealing.

It takes a few hours to complete but when done you will know why there are so many trying to get weak holders to sell up.

Placing in the next few weeks, be warned.

King Rat - Maestro lolol

The road is being built because:

1. Deep drilling requires reliable access to be economically viable.

2. Downtime and weather risk currently impose unacceptable cost volatility.

3. The scale of mineralisation justifies infrastructure investment.

4. Programme continuity and safety materially improve with a formed route.

5. Future exploration and development optionality are preserved.

In operational terms, this road marks the transition of Red Setter from:

“remote, opportunistic exploration”

to

“planned, scalable, industrial-grade exploration.”

Heritage survey: £180k–£300k | April–May 2026

Road build (base case): £3.2M–£6.5M | Q2–Q3 2026

Operational access achieved: mid-to-late 2026

Strategic effect: lower drilling unit costs, reduced weather risk, scalable exploration

6. What this means for Red Setter overall

Taking mineralisation style and observed thickness together:

Red Setter hosts a large, coherent mineralised architecture.

The drilling has intersected the core of the system, not its periphery.

The most prospective zone is where shear strain, veining, and sulphides overlap (≥630 m depth).

The primary uncertainty is grade distribution, not system validity or size.

7. Bottom-line assessment

Geologically, Red Setter is a real system of meaningful scale.

The core shows:

continuity,

depth persistence,

structural focus,

and metal fertility.

From an exploration-risk perspective, this materially de-risks the project at the system level. The next phase is about defining grade, plunge, and continuity, not proving whether mineralisation exists.

This is the final part of a large report

6. Why this matters: scale and continuity

Figure 8 demonstrates that:

Brecciation is not confined to a narrow zone.

The system has vertical continuity over at least 80 m (likely more).

Textural evolution is ordered, not chaotic.

From an exploration risk perspective, this dramatically improves:

continuity risk

structural predictability

down-plunge targeting confidence

7. Implications for gold distribution

In systems like this:

Gold is rarely visually obvious.

Best grades typically occur:

where shear strain, veining, and sulphides overlap,

not necessarily where brecciation alone is strongest.

Based on Figures 4–7, the 630–700 m zone is the most favourable part of the intercept.

Expect:

metre-scale grade variability,

but multi-tens-of-metres mineralised envelopes.

8. What Figure 8 definitively supports (and rules out)

Supported

Single coherent mineralised system

Structural control

Depth persistence

Au–Cu fertility

Ruled out

Isolated breccia pipe

Shallow-only system

Random fracture-hosted mineralisation

Short-lived hydrothermal event

9. Exploration and decision-support conclusions

Based on Figure 8 as a whole:

This hole has successfully intersected the mineralised architecture, not just peripheral damage.

The system strengthens with depth and structural maturity.

Follow-up drilling should prioritise:

down-plunge continuation, and

along-strike step-outs on the same shear corridor.

10. Final executive statement

Figure 8 confirms that Red Setter is hosting a large, vertically continuous, structurally controlled Au–Cu system, with brecciation acting as an early permeability mechanism and shear development acting as the primary long-term fluid conduit.

From a geological standpoint, this is a materially positive outcome. The key question now is grade distribution, not system validity.

Mineralisation zone

3.5km long

500m wide

600m (minimum) deep

Greatland’s recent corporate activity provides some genuine “read-through” on whether it is likely to do additional JVs/farm-ins in the Paterson region (i.e., the broader Telfer/Havieron district). It does not, however, provide a direct signal of a specific JV with Wishbone/Red Setter.

What Greatland has been doing that does hint at regional JV appetite

1) Greatland has already executed a new Paterson Province farm-in/JV with a junior next door to Telfer

In mid-December 2025, multiple sources reported a multi-stage farm-in and joint venture between Rincon Resources and Greatland over a large portion of Rincon’s Telfer South ground, adjoining Greatland’s Telfer operation. Greatland is described as managing exploration across the JV area.

Implication: this is the clearest, recent proof-point that Greatland is willing to use JVs/farm-ins as a regional consolidation tool around Telfer, rather than only relying on wholly owned tenure.

2) Greatland is also in (or progressing) a farm-in/JV with Rio Tinto Exploration in the Paterson

Greatland disclosures in July 2025 reference issuing shares in satisfaction of up-front consideration due to Rio Tinto Exploration relating to a farm-in and joint venture over the Paterson South project (agreement originally announced May 2023).

Implication: beyond “near-mine” consolidation, Greatland is structurally comfortable partnering with a major technical counterparty (Rio Tinto Exploration) in the same broader province.

3) Greatland’s own investor materials explicitly position Telfer as a “hub” that can “unlock” value from regional sources

In its 2025 AGM presentation, Greatland highlights:

a >2,000 km² exploration portfolio within ~60 km of Telfer, and

that Telfer is the only operating processing plant in the Paterson, with potential to unlock value from “accretive regional opportunities,”

noting that the portfolio includes tenements subject to earn-ins / joint ventures and describing a “hub and spoke” concept enabled by Telfer infrastructure. Greatland Resources

Implication: management is telegraphing a strategy that naturally lends itself to commercial deals with neighbours (earn-ins, trucking/tolling, regional ore sources), even if no specific partner is named.

4) Greatland’s balance sheet and development plans increase its “optionality” to do deals

Greatland’s Havieron feasibility-stage communications emphasise a strong financial position (e.g., significant cash and no debt as of the cited quarter-end) as it advances Havieron and extends Telfer life. Investegate+1

Implication: stronger liquidity increases the probability that Greatland can structure farm-ins/JVs as either:

Cash-funded exploration earn-ins

Scrip + expenditure commitments

Processing/infrastructure-linked arrangements

The next howler Maestro – Argo Blockchain, you were ramping this one heavily hey, you got very excited, but in the end the same old familiar tale, you lost the lot. I am hoping whilst going back through your historical mystery trail I will eventually come across a stock you made money on.

Merry Christmas - Purple Triumph Stags indeed 😊

Manifesto I have previously covered some of your heavy losses elsewhere; now I’m reading up on the insane losses suffered with OBD. Care to explain that one, mate?

I do find it odd that someone with such a terrible track record of investing is enlightening us all here; we are blessed to have you on board.

Merry Christmas.

Manifesto. You stated there would be a placing here this week; there hasn't been one. Could you kindly apologise to all the good people here for being an absolute tool. Thank you.

Havieron mineralisation zone 650m x 350m = 22.75 hectares

Red Setter mineralisation zone 3500m x 500m = 175 hectares

On current known data the mineralisation footprint at Red Setter is 7.7 times larger than Havieron

Manifesto you lost a lot of money on Synairgen, your words, yet here you are on another stock trying to spout your words of wisdom. Helium One another you did your nuts on, the list goes on.

You quoted.

I sold my shares but kept one so I could go to the AGM if possible..

Lost a lot of money here, yes that is the risk you take

Wishbone Gold Plc (LSE:WSBN) has provided an update on its Red Setter Gold Dome Project, announcing that it has applied for approval to construct a new 30-kilometre access road designed to lower logistical costs and boost operational efficiency.

Has applied