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Interesting, see the second photo looks like you can see the diamond rig in the background..

I have taken Upside2020 Satellite image with recent potential drill pads highlighted and overlaid with WSBN Geological interpretation from 17.09.24.

https://jumpshare.com/s/4eDED6o5bcV4RaclPcgI

For me its clear, the RC rig is going to explore shallow targets along the diorite and the previous 2023 collared RC holes to circa -250m can be used to test the main dome further. The current hole 3 is in a good location as it can drill deeper to the south towards the domes to test continuity but they can also then turn it north west to check further shallow(er) materialization.

Breccia often forms around diorites so its all part of the overall system.

They need to use the £4mill to demonstrate an understanding of the size and nature of the mineralisation and geological events. This will confirm whats there and allow JV partners etc.

All IMO.

In 2022 the SP never held at 15.5p for long at all, maybe a day at most.. It wasn't long until it was down to 10p and under £20mill market cap.. At 10p we got a boost for a few days which seemed to be related to a further core picture which looked superb.

We are currently holding well at circa £30 mill market cap but this drip drip everyday is not good or enjoyable.

As you note, the gold price alone as well the massive intercepts of mineralisation is a real bonus in 2025.. Pretty sure the mineralisation with Pyrite and fine gold from 2022 was sporadic and over small intercepts. If you look at core trays back then, it seemed a few meters of mineralised core then the rest of trays beige rock. SO the consistency, hitting large intercepts at depth and within the high sulphide region (MT Survey) is what I feel the difference this time around..

From RNS on 25th September 2025, Hole 1 Core samples were at ALS Laboratories in Perth and had been cut, with sample preparation underway. Assaying to begin shortly. Therefore its only been 4 weeks since this announcement and we might still be 2-3 weeks from results.

In meantime, Hole 3 will be interesting, anything in this hole will be a bonus as I dont think it is targeting the main gold dome but rather following up form the earlier good grades and using a previously drilled hole to get to depth quickly. All whilst the RC rig starts preparing further entry holes above the main dome.

Staying very positive.

If you look at RNS's from 2022. It went to 15.5p because there was 'encouraging visual signs' at red Setter and photographs of cores etc. There was a lot of excitement and there was talk of a second rig.

Your probably thinking that sounds about where we are at now, which in a sense in correct.

Difference this time is the confirmed Breccia and length/consistency of the minerlasation indicated in the RNS and core photos. Also, there was talk last time about a second rig but this never happened. Now in 2025 we already have a second rig turning.

So yes, we are at a similar stage but this time to me I believe they know they have hit a potential discovery worthy of continuous drilling and they are now following it up. I also think assays will come back stronger due to drilling into the core/dome and source of mineralisation, which is also deeper. The drilling correlates with the MT Survey data therefore what they are finding can be quantified pretty quickly.

It is still about the actual assay results, however, everything else is in place including potential size (MT Survey) and intercepts, geological formations (Breccia), Funding, second rig on site, double shifts on the DD Rig and proximity to processing plant at Telfer.. Assays are the last piece of the puzzle to really send this to next level.. I reckon anything over 1.5 g/t eq over 150m+ on either hole 1 or 2 and its game on for a telfer like Tier 1 discovery.

As per AIMTRADER4YOU X post a couple weeks ago, I had another think about this last night. This ties in with WSBN not releasing core photos form 581m to 850m in hole 2, what is there and what are the potential surprises?

The drill core posted by Core Drilling Services on LinkedIn was unusual with massive voids in the core and not the same as the photos provided in the latest RNS release.

After a bit of research ChatGPT confirmed the following.

Large vugs or voids----

1. Indicators of Hydrothermal Fluid Flow

Quartz and carbonate (especially ankerite, dolomite, or calcite) commonly precipitate from hydrothermal fluids.

Large vugs or cavities lined with quartz and carbonate indicate open-space filling, meaning the rock was fractured or brecciated during or before mineralization.

These voids show high permeability zones, where fluids could move and deposit minerals — often favorable for gold deposition.

If you observe sulfides (pyrite, arsenopyrite, galena, sphalerite) rimming or within the vugs, it’s a strong indicator that these voids were conduits for gold-bearing fluids.

Coarse or bladed carbonate textures can suggest boiling or CO₂ degassing, both of which can trigger gold precipitation.

-----------------------------------------------------------

Therefore perhaps what we see is late stage low pressure boiling zones with fine gold and pyrite around the rims of the voids. There may even be quartz crystals formed with gold disseminated on top.

Perhaps this is why the photos were not released, this would create a speculation frenzy before assays of Hole 1 are confirmed.

I think assay results will arrive when they have a better understanding of the overall picture. Basically not until they hit 500m+ on hole 3.

After this they will provide a full bhuna update including how significant they believe the find to be, geological drivers etc.

If they can find an area of mineralisation Gold/Copper at around 2g/t from circa 250m which leads to or connects to the deeper GOLD dome source then this is a massive bonus.

Haveiron does not have a shallow deposit to help get them down to mining depth (as far as I'm aware).

If current hole indicates continuous or even intermittent mineralisation from 270m down to the main event circa 550m then that's the start of any potential mine.

My understanding of hole 3 is that they probably started possibly over a week ago (Friday 10th October when the interview was recorded) and are well on with the drilling. They are re-entering a previous diamond drill tail that went to circa 300m deep therefore no need to wait for the RC rig to turn up. This is a good use of the rig whilst they await the RC to provide new collar locations for follow up diamond drilling. Not only good use of rig, the hole can help identify the northern limits of the mineralisation.

Double shift say conservative 25m a day x8 = 175m + 300m previously drilled, they might already be a at the initial TD and eagerly watching to see if mineralisation from gold dome source is starting to show.

Of course there could also be further secondary mineralisation gold and copper on the way down from 300m.

Thanks everyone, remember this is my interpretation so take with large pinch of salt. Obviously I am not associated with the company at all.

I'll look to add a bit more info in due course as suggested and particularly if/when we get further drill info.

All until such time we start receiving diagrams from Wishbone which I suspect wont be much longer. They are probably looking for more data before illustrating what they have found to date.

I have put together my interpretation of 2025 drill activity into a lateral section as per image below. Note this is my own interpretation of information provided in RNS's relating 2025 Holes 1 & 2 and also possible link to Hole 008 from 2022 as noted in today's RNS.

I am not a geologists or qualified in this field at all but the diagram is drawn to an interpreted scale in AutoCAD and as I understand the information provided.

If there are any geologists on the board then comments or input for inclusion of further information would be welcome.

https://i.postimg.cc/25jBrPjt/Indicative-Drill-Diagram251017.jpg

No doubt in time the company will provide a proper diagram of drill holes and mineralisation etc.

It is bonkers that we had an amazing day yesterday on back of interview, at close of market everyone was really positive, talking about a massive deposit bigger than GGP etc.. Then today complete 180 and sentiment in the gutter..

Basically ASSAY results required here to consolidate data already provided via breccia and large intercepts etc.

Also, there were no core photos of Hole 2 from RNS which provided images of core from 577m to 850m.. Core indicated today started at 850m..

There could be many different interpretations why this is the case but I definitely don't think because no mineralisation or they would have stopped drilling.

We are still in limbo here waiting to see if its a commercial discovery. All the signs looking excellent but we are not there yet.

For me, today’s RNS illustrates fantastic and exciting progress.

The heading of the RNS is titled Red Setter GOLD Dome Exploration Update. With the word GOLD being included. So, this is confirmation that there is gold in the system that we know about not least to the northwest of current drilling from the 2022 assays.

Holes 1 & 2 were step out 200m apart and both have confirmed significant mineralisation (assays pending) from same pad.

As per the interview they have also located a Dolerite Dyke and my impression is they believe this is linked to the shallower 279m drilling 7m of 2 g/t per tonne back in 2022. Therefore, they may believe this dyke rises as it extends northwest from southeast hence a further step out 1.6km to the northeast. They will want to try and hit it to the north side and chase it back own towards hole 1 and 2. If they can locate the dyke at a shallower location then this is a massive bonus as future mining will follow the dyke/breccia from shallowest location discovered.

If this is the case and there is a large dolarite and breccia system then this wide spaced drilling is confirming the extents in line with the MT Geophysics. Any infill drilling (50m+) spacing will be once they know the true bounds of the system.

Really nothing negative today whatsoever and there is potentially a mineralised zone of 300m+ being assayed form Hole 2.

ChatGPT drew me a picture of a Dolarite Dyke within a Breccia GOLD System as below.

https://i.postimg.cc/D0KKRJB5/Dolarite-Breccia-Diagram.png

Watched the video this morning and been buisy all day..

Fantastic update and super positive.. Key items fot me..

- Footprint of what they are looking at, Haveiron EASILY fits into this..

- Asked at the end if we should expect a tier 1 discovery, this was not denied or dismissed so potentially on the table.

- They are going after the Diorite Dyke at shallower location.. This may be traced and connected to deeper .ineralisation.. Perhaps the diorite and breccia run north west to south est and become shallower as it continues north west...

Cant wait for this to all 7nfold...

I think we have been provided alot more updates than some companies, given official assays are not available yet. Confirmation of mineralisation and drill core photos are not always provided..

Company taking time for next update as its really the to be or not to be update.. They need to make sure assays, and understanding of what is found to date alignand they are correct.. A positive update will massively affect the market so have to make sure everything is spot on regards info and data..

Thats alot of shares, there is a good chance you will be coming into ££..

So surprises near the bottom of a Breccia system can incluse native or root gold.. As oressure drops at the base of a breccia system, the gold condensates out the carrier sulfied fluids to form native gold in nuggets, flakes etc..

Could this be the surprise discovered down beyong 800m+

On the assumption that AIMTRADER4YOU not making stuff up..

🪙 What “native gold” means

Native gold means metallic gold in its natural, uncombined form — that is, elemental gold (Au⁰), not bound into a chemical compound like a sulfide, telluride, or alloy.

So, when a geologist says there is “native gold” in a breccia system, they mean that the gold occurs as visible free metal grains — flakes, specks, wires, or nuggets — rather than locked inside minerals like pyrite or arsenopyrite.

---

🔬 How native gold occurs in breccia systems

A breccia system is a zone where rocks have been shattered by hydrothermal or magmatic fluids. Those fluids often carry dissolved gold as a complex with sulfur or chloride ions (e.g., Au(HS)₂⁻ or AuCl₂⁻).

When conditions change — for example, pressure drops, temperature changes, or oxidation increases — gold precipitates out of solution as native metal.

That precipitation commonly happens:

Within open spaces between breccia fragments,

Along fractures and microveins in the breccia matrix,

On grain boundaries of sulfides (especially pyrite, chalcopyrite, and galena),

At the base or “feeder” of the breccia pipe, where pressure and fluid flow conditions vary most sharply.

ChatGTP answer re surprises.. Basically all the options sound fantastic..

🪨 2. Possible “surprises” at the bottom of the breccia

(a) Feeder dykes or intrusions

You may find porphyry dykes, lamprophyres, syenites, felsic domes, or even ultramafic intrusions feeding the breccia pipe.

These could host high-grade gold, sulfide-rich zones, or even rare-element mineralisation (Mo, W, Te, REE, U).

(b) Boiling zone or high-grade “root zone” gold

The bottom few hundred metres of a gold breccia often contain:

Coarse quartz–sulfide veins, electrum, tellurides, and native gold.

Replacement textures (sulfides replacing breccia matrix).

This is because pressure drops and temperature gradients cause gold to precipitate near the feeder.

(c) Hidden intrusion or magma chamber

Sometimes a dome breccia caps a hidden intrusive cupola (granite, diorite, rhyolite, etc.).

These can be sources of porphyry-style mineralisation — Cu, Mo, Au — beneath the breccia.

(d) Alteration zones

Deep alteration halos — potassic (K-feldspar, biotite) or sericitic zones — often develop here.

These can point to porphyry or epithermal transitions, very useful for exploration targeting.

(e) Unexpected rock types

Some breccia “roots” cut into older ultramafic or metamorphic basement — possible hosts for:

Shear-zone gold

Base metal sulfides (Cu, Zn, Pb)

Occasionally, carbonaceous or graphitic zones that act as redox traps for Au.

(f) Exotic or mantle-derived components

If the breccia has deep magmatic origins, you might find:

Mantle xenoliths, pyrope garnet, or Cr-diopside — sometimes hinting at kimberlitic or lamproitic affinity.

These are the rare cases where diamond indicator minerals can appear.

However, that’s only if the breccia was emplaced by deep mantle-sourced magmas, not normal hydrothermal fluids.

Well I'm heading over to Belfast Monday morning on a 6:25am flight so if there is an RNS it better be good as I wont see it until later.

Assuming AIMTRADER4YOU actually knows something. What kind of surprises sit at 800m+ below ground?

It must be gold related so what are we talking about visible gold and bonanza grades?

All with a pinch of salt but he seems to be on the money.

For all we know, the grades, especially Hole 2 could be phenomenal. The fine disseminated gold is impossible to spot in low-res photos but the massive quartz carbonate veins could be holding a lot of gold..

Certainly there could be intercepts of bonanza gold within larger average sections.