Member Info for Cebo-456

The team will no doubt already be planning on the next hole or holes to continue to prove the geological model and resources in the ground.

Let's hope they announce this soon, double drill and double shift could see another 4 drills completed Q4. Which I believe we have funds already for, and it means not having to take a JV yet on the 100% Red Setter Discovery.

What they have shown is the size and Scale of this discovery could be huge. 200m step-out with hitting the payload at even shallower deoth than expected would suggest this is a monster.

RNS says that the drill has already " Intersected Multiple Zones of Brecciation & alteration with Sulphide Mineralisation" - that's about as good as it gets ----

Here is what they mean

1. Brecciation

Breccia is rock that has been broken into angular fragments and later cemented together.

Why significanct

Breccias often form along faults, shear zones, or intrusive contacts, which are good pathways for hydrothermal fluids carrying gold.

Repeated or multiple brecciation zones suggest multiple pulses of fluid movement—increasing the chances of significant mineral deposition.

2. Alteration means Chemical changes to the host rock caused by hot, mineral-rich fluids - Typical gold-related alteration:

Silicification (addition of silica)

Sericitization (formation of fine mica)

Carbonatization or chloritization

Exploration significance: Intense or pervasive alteration is a key indicator of a hydrothermal system, the kind that often deposits large quantities of gold.

3. Sulphide Mineralisation

Definition: Presence of sulphide minerals such as pyrite, arsenopyrite, chalcopyrite, galena, or sphalerite associated with gold discoveries. In many orogenic gold deposits, gold occurs as microscopic inclusions in sulphides, or along the grain boundaries of sulphides.

Arsenopyrite and fine-grained pyrite are classic indicators of “invisible” or refractory gold.

4. Multiple Zones - Finding several distinct intervals of brecciation + alteration + sulphides typically means:

The area has been subjected to prolonged or repeated hydrothermal activity - Company makers.

There could be stacked or structurally complex gold-bearing zones—for example, multiple veins or shoots.

Potential for a larger or higher-grade deposit, as mineralising fluids had multiple opportunities to introduce huge Gold deposits.

ED Mead is now on record as saying that what they are saying indicates a "SIGNIFICANT GEOLOGICAL AND MINERALISATION EVENT AT RED SETTER". Ed is one to listen to with a huge reputation.

Only the Assay results will give us the Grades when they are ready - everything else suggests that this is a monster in the making.

Redsetter is already looking bigger than the GGP Haveiron discovery - and WSBN are still holding 100%. With Gold Prices rocketing - WSBN MC could grow to larger than GGP in the medium term.

The Conpany obviously cannot speculated too much - but the clues are there . If this is a second Telfer - then Telfer contained 20m oz Au plus Cu - About US 100$ billion in Ground (non discounted Value).

If Redsetter is the same and proved ti be so - then the going rate is 5% of that value - so Many, many billions of £'s.

This needs a few more holes before they can say exactly how large but could certainly be 50p + per share for those willing to hold a little longer.

Big rise today, with a stong late afternoon - same tomorrow once the news gets analysed properly.

Then we have the next drill programme to be announced shortly- news on the 14 new licences applied for (that surround Telfer and Wishbone) and then Assay Results to look forward to.

Well done those that kept the faith.

Hitting it 200m shallower than expected could suggest this is an even larger discovery than even most could have imagined.

Awesome result, exciting times

✨️✨️✨️✨️✨️✨️✨️✨️✨️✨️✨️

LOT3 - What exactly do you want - a running commentary on what the Core's are looking like ????

With Mining and Oil and Gas Exploration, the nature of drilling and testing means it is nearly impossible to keep a completely tight ship - even more so with Oil when the start running DST's hiring AHVs etc. But although the Tool pusher and drillers will have eyes on the Core's - they will still be guessing on exactly what they hold and how they fit into the bigger Geological Modelling with all other info. DL will also be guessing as he does. The Core's are only part of the picture.

I note your guesstimate on where we are with the drill - but it could be further behind or nearly at TD (which could be 800 or 1000m), we also know they were looking at double shifts a few weeks ago. We also know the first 150m would have been likely drilled with a wet drill bit in a few days, we also know what they want us to know from the photo's released - and they are fully aware of what information is being released in them.

Too many Bed Wetters here - the Company aren't doing anything wrong as far as I can see so maybe chill and let them get on with their job - which is proving up a Gold Discovery. News will come when it comes and when it does I think investors will be very happy.

Nope, once all the results from Hole 1 are back they will need to publish them.

They will be using pXRF on site and possibly Phon Assay initially in the lab - so will have a good idea of what the Cores contain. But they will wait until they have the complete results back - and then they will need to release them. They absolutely cannot hold on till they get the second hole Assays back. And they won't want to 😉 . The first lot alone will, in my opinion, be a game changer in a good way.

Quite possibly a big buy or two being worked through which will show after hours or tomorrow .

Will happily take 5%-10% a day till news - and it can take as long as it wants 😀 😄 😊 😉

Skippy, you are so wrong in so many ways.

Yep, it 50% up - probably because clowns are mentioning it are trying to X- ramp and pump without looking to see if fundamentals back up the rise. It will likely drop back later so I wouldn't bother.

Skippy, absolutely nonsense - they would be closed as uncomplete results and the company can choose to hold them until they are verified with the rest of the Cores. They could even delay to QA/QC and verify against what they are seeing in Hole 2.

The ALS Lab that WSBN now offer Non-Destructive Photon Assay services to look at the Gold Content in the Core samples. I suspect that WSBN would have taken up this offer on some or even all of the Core samples from Red Setter. To that end the Company will be aware of the Au content and Grades from Hole 1. Photon Assay results only take a couple of days, they are now as reliable as Fire Assay testing, JORC compliant and as such are recognised by most financial institutes for borrowing against resources.

If I am correct in this assumption then I doubt that WSBN could have posted, liked and reposted some of the items they have - not least the Expert-Geo post saying major discovery, game changer etc (or words to that effect). So if for some reason (which is very unlikely) that results and grades arent comercial then questions will need to be answered.

They will still have to use the Acid test to look for Copper and other metals which do not show up on Photon Assay Xray technique for obvious reasons.

Let's hope it is all you say because if it like all the other rubbish you post there will be nothing worth reading.

FAO AimInvesting.

You either are looking for attention or are absolutely clueless about your delayed trades - calling the FCA made me laugh, probably will do the same if anyone there will humour you.

The trades being reported late are called "deferred" and are absolutely above board. It allows the reporting company to avoid market disruption on large trades or to work the order or hedge their risk without moving the market unfairly. Nothing sinister, nothing dodgy or illegal.

Deferred reports should be 1hr or End of play or 0700hrs the next morning. On some occasions they can be by 1200hrs the next trading day if the trade comes late in the day. Deferals longer need to be applied for.

Sorry if this doesn't fit your agenda - but its correct, within the rules which are required to keep an orderly market.

So dry your eyes and give your head a good shake.

MarkConnor - you really surely aren't as stupid as all your posts point towards you being. The Directors already have put a lot of their own cash in this year. They also cannot buy in now as it will 100% undoubtedly be a closed period for directors to buy in.

So grow up 🤡

Jonnieboy, your actually way off the mark about what is economic and what isn't when talking about depth and its a long way off being a major deciding factor as you or anyone looking at this sort of Company should understand.

But depth is a factor which obviously the type of mining which dictates cost which obviously partly dictates if economic or not , but not the main factor - anyway, when calculating how depth effects costs when looking at fundamentals the industry uses the following in WA - Sublevel/ramping/caving US$50/t, Mechanised Narrow Vein - $US80/t, Mechanised Underground - 120US$/t or High Mech, high power ventilation etc @ $300 US/t. So those figures in theory would make it Economic with grades between 0.5-3 g/t.

There are obviously a lot more to it than that, not least location in regards to processing facilities (maybe Telfer,maybe not), financing costs etc etc.

Even if the drill assays eventually show grades above the notional underground cut-offs I mention above - Red Setter will only be economic if the orebody is large enough, continuous, metallurgically treatable, and can be mined and processed at a scale and cost that comfortably exceed the long-term gold price after royalties, tax and capital payback. Grade is necessary and depth has a cost impact obviously but resource size, metallurgy, infrastructure and permitting are probably more decisive.

For me all the signs are that this could be a huge discovery and game changer and anyone buying at those levels before Assays and drill updates are officially known could see the SP 10 or 20 bag from here (just my opinion though). But its not nailed on, there are still risks so not for Widows and Orphans as they say.

I also believe that WSBN would have had the main Cores put through NDT Photon Assay when they got to the lab with results within 24-72hrs. - so they would have had a good idea of the Gold (not Copper) content and Grades weeks ago - would they or could they still be communicating and retweeting (Stuff like Exoert Geo's tweet saying Major Discovery, gamechamger etc) if the Gold Grades weren't hugely positive. Maybe, but serious questions will be asked if that was the case.

Freezer, no one is saying Hole 1 is Make or Break. But its hugely promising - a lot more so than Haveiron Hole 1 was, in fact I would say it is closer to GGPs Hole 5 on Haveiron and then some.

At Red Setter, Hole 1 showed a Long mineralised zone: From about 520 m down to at least 777 m the core contains quartz–carbonate veining and visible sulphide minerals. A 257 m interval of this style of alteration is a great sign that a large hydrothermal system was active.

Chalcopyrite present: Chalcopyrite is a copper-bearing mineral and is often associated with gold in porphyry or intrusion-related systems - hugely promising.

Breccia pipe geometry: Breccia pipes can be excellent hosts for significant copper–gold deposits when the right fluids and temperatures were present. Breccia Pipes or Chimneys as they are sometimes known as are what explorers dream of and are known as Company makers, again hugely promising.

So the features above are the kinds of geological “vectors” exploration geologists search for.

But we still need the Assay results to find out:

Grades: Seeing pyrite and chalcopyrite in the Red Setter Hole 1 core doesn’t tell us how much copper or gold is there. We still need the laboratory assays to know the metal content.

Continuity: Hole 1 shows deep alteration and sulphides, but the system must be laterally and vertically continuous which is why the step out hole was drilled .

So at the minute, Red Setter is still officially at the Exploration stage - classed as an Early-stage promising geological hit—with a lot of indicators of a mineralising system - but not yet an official "Economic discovery". and the reason the Market Cap is £40m and not £400m+ which it would be if it was classed as a medium sized economic discovery

To move this toward “discovery” status it need the Assays to confirm decent Copper/Gold grades and the follow-up drilling to show the mineralisation extends over a larger area.

Assay results could land any day now.

Update on Hole 2 could show mineralisation extending over a larger area. Update on hole 2 could come any day now, TD could be reached this week with assays to follow end of Oct.

We probably also need another couple of holes after that to fully prove up the geological model, grades and volumes- The good news is that the Company have already indicated that drilling will continue on Red Setter and we know we are fully funded -

So still not quite there, but if Assay Results show Copper and Gold in decent grades, hole 2 shows more positive mineralisation and they anounce another 2 or 3 holes starting Oct - then we could be looking at 20p Share price by year end (Hole 1 Assays, Hole 2 Assays plus another 2 or 3 holes drilled Oct and Nov).

Https://kingworldnews.com/she-has-been-deadly-accurate-in-her-gold-price-predictions/

The wider concensus is that we will see $5000 Au oz ne t year. This is definately the time to be making a large gold discovery. Expect more M&A action in the Gold sector as Midcap & the big boys look at securing resources........

Roll on Assay results, Drill 2 update and news on another 3 or 4 drills on Red Setter.

Another 3 or 4 drills would prove geology, firm up resources numbers and potentially command a minimum of 5% of the Non-discounted value of the metals in the ground.

At today's Au and Cu prices, a discovery the size of Haveiron would have a Non-discounted In-situ value of metals of around US$40 billion.

Telfer turned out about twice the size of Haveiron.

How much will Red Setter contain though.

Drill Baby Drill.