Member Info for LOTM-13

Casper786,

Your really seem to be getting mixed up here.

70° dip from horizontal

Cos and sin:

cos (70∘)≈0.3420,

sin (70∘)≈0.9397

Offsets and depths:

𝐿=550 m:  H=550⋅ 0.3420 = 188.1m,  V=550⋅0.9397 = 516.8m

𝐿=775m:  H=775⋅ 0.3420 = 265.1m, V=775⋅0.9397 = 728.3m

𝐿=950m:  H=950⋅ 0.3420 = 324.9m  V=950⋅0.9397 = 892.7m

 

So the bottom of hole 25RSDD001 at a 70∘ drill angle is just 265.1m away from the surface collar location & is at an actual depth of 728.3M from surface when they stopped drilling it.

Hole 25RSDD002 at a 70∘ drill angle is 324.9M away from the surface collar location & is at an actual depth of 892.7m when they stopped drilling it.

Hole 3 which is only planned for a depth of 500M but if it went to 550M it would only be 188.1M away from its surface location, in other words at least 1.4km away from the surface locations of holes 25RSDD001 & 25RSDD002.

LOTM

Casper786,

There is nothing that I have seen that says the current hole 3 of 2025 is anywhere near the actual Red Setter Dome. The surface location is 1.6km from the surface location of holes 1 & 2, both of which were drilled to the southwest of those locations not towards where hole 3 is.

If they thought they were to far south & only hitting the outer edge of mineralisation. They could easily have stayed on the same drill pad & either drilled straight down from there or drilled at 70 degrees to either the north west, north or north east of that location. Positioning themselves a couple of 100M north of those intersections starting at 550M etc.

As for the 7M at 2g/t, if you actually look at the old assay results, you'll find that the vast majority of that number came from 2 x 1M intervals of 6.42g/t & 5.01g/t.

WRSDD0008 266.00 280.00 14M 1.08g/t 0.22% CU

Incl 273.00 280.00 7M 2.00g/t 0.38% CU

incl 273.00 274.00 1M 6.42g/t 0.70% CU

incl 279.00 280.00 1M 5.01g/t 0.74% CU

In hole 008 those 2 x 1M intervals were very close together, whereas if you look at the data from 006 for example the 2 big numbers there were very far apart. 5.44g/t at 198-199M & 395-396M at 5.26g/t.

See pages 11 & 12. https://wishbonegold.com/wp-content/uploads/2022/12/WSBN-RNS-221213-Confirmation-of-Hydrothermal-Gold-and-Copper-System-at-Red-Setter-2lt0.pdf

If you look at hole 009 you also had 1M (246-247M) at 6.49g/t.

They are trying to track those high grade intervals over those 3 holes to see where they go to & whether they thicken at all ............

LOTM

British_Mike,

You have to ask why they have not used the DD rig to extend hole 3A from 2023, from 270M to 550M+ Afterall that was the plan before they got any data from 25RSDD001 was it not? They had months & months to plan it all & consult with Expert Geophysics before deciding in June that was the best plan of action & if as they keep telling us Expect Geophysics model has been proven right then hole 3A's location once extended into the dome had to be part of that model.

There going to have to extend that hole at some point & now seems as good a time as any if they truly don't have any assay results back yet to guide where to drill next, extending 3A will buy them another 10 days or more of time for those assay results to come back & use the DD rig properly.

LOTM

Well the RC Rig should have ben at work now for close to a week & yet we have no idea as to what its drilling plan actually is ?

As for the DD rig well by Friday it should have completed hole 3 & we have no clue as to what its future plans after that are ? Maybe it will go back to actually targeting the Red Setter Dome, but I guess that might depend on whether they have got any assay results back yet or not ?

It would be a waste of the more expensive DD rig to have it simply drilling shallow holes needlessly & more costly, when there is a RC rig onsite to do it now.

LOTM

When you compare Upsiderebal's map to figure 4 of the 13th Dec 2022 RNS, https://wishbonegold.com/wp-content/uploads/2022/12/WSBN-RNS-221213-Confirmation-of-Hydrothermal-Gold-and-Copper-System-at-Red-Setter-2lt0.pdf

Then you can see that they are intent on following up the high grade finds from those 12 holes. ie 006, 008, 011 & the major fault

LOTM

TheBasher,

I think you've missed the main point of the GEO RNS, hole 2 has only just completed & the cores not yet sent to the lab for assay - yet they expect to receive the results of those assays in the current quarter. Thus they are looking at a 8 week turnaround.

There hole 1 core was sent to the lab at least 3 weeks after WSBN 25RSDD001 core was at the lab.

So on an 8 week turnaround that would say the assay date should be available at the beginning of next week !!! (assuming GEO's timeframes are accurate)

Best way to find out would be to see if anyone knows of a company who submitted there cores for assay around the last week of August to see if they've had there results back yet or not ? & if not to watch out for when they do get them as WSBN's should be known the following week.

LOTM

Hmm OO down to just 6 members of staff from 8 about 2 weeks ago................

Still no update on there website or Linkedin page.

Has things gone wrong there & did HUI get its loan fully repaid yet or not ?

LOTM

Core Drilling are recruiting - looking for at least 3 new members of staff!!

LOTM

The real negatives from Friday's RNS are that it looks like a real attempt to just buy time with a "jackanory jackanory tell us a story", "bullsh*t baffles brains" ploy, only in this case a 5 year-old child could have come up with a better story than they have as it has so many holes in this plan.

The fact they only drilled to 950M, now we don't know exactly (timewise) when they stopped drilling, but it was after last Monday 13th Oct, which means they drilled 369M after the 25th Sept - not including the time they had left on the shift they had that day. There were 10 single shift & at least 8 days of double shifts, giving us 26 shifts minimum meaning they were only drilling at a rate of barely 14M per shift.

If we add in Tuesday 14th October that takes it to 28 shifts & the then the rate per shift drops to just over 13M per shift, now the core picture we saw with a whole 4M+ section standing upright shows drilling conditions inside the hole must have been good.

Then your asking yourself what did they do with the expensive rig on double shifts if they ended the hole 1st thing wednesday morning shift in Perth (or earlier) ?

I mean how long to pack-up camp & move to the new location 1.6km to start drilling? & if they only started drilling again on Friday - 2 days - 4 full shifts for a move ? when was the new drill pad prepared ? but more importantly to me, why not stay put & deepen the 25RSDD001 hole or do the diamond tail on the 3A hole as originally planned, both were already prepared & ready to go, they could have got started drilling at those locations much sooner - a 1 shift move!!

Then why use the expensive rig to drill from surface ! wasn't that the purpose of the new rig in the first place & it starts 21st Oct ( 5 days later) & it could have drilled this new hole 1.6km away instead as its first task, providing much better value for shareholders money & not missing X shifts with the expensive DD rig instead by moving it ?

Not to mention then having to move it back later & more lost shifts !!!

Doesn't make sense at all.

Nor was there an actual detailed list of what the new rig is doing immediately on arrival ! talk of water bores & shallow drilling, but zero on specifics!!

More worryingly was the fact the new follow-up to the old 008 hole is going to 500M depth !! with no real description of why that depth or in which direction it is actually going to be headed? I mean if your targeting the dome it should have been 550M minimum to be safe & the old 006 hole went to 400M+ in 2022 & by looking at figure 2 of https://wishbonegold.com/wp-content/uploads/2022/12/WSBN-RNS-221213-Confirmation-of-Hydrothermal-Gold-and-Copper-System-at-Red-Setter-2lt0.pdf the 008 hole must have gone to a pretty similar depth !!

I could give you about another 30 questions alone to do with that RNS but won't bore you with them, especially the lack of a Presentation.

LOTM

The few positive bits of interest from Friday's RNS

I don't know if anyone else noticed the sudden appearance of reddy-pink bits in a lot of the fractures in figure 3 of the announcement ?

Also in figure 5 the end of core section from 943-950M there is hardly any visible fracturing to it, until we get to like the last 20cm of it where there are more visible fractures there than the rest of the 7M section combined (& steeply diving at that) & they would appear to extend beyond the 950M point how much is anyone's guess.

Also in figure 6, if you do a bit more research, you'll find that the tiny blue triangle to the right of Red Setter (before Telfer) is where Wishbone has applied for another piece of ground (kind of marked in the diagram, but not well) that is down as belonging to Newcrest previously but Wishbone has applied for!

LOTM

Hi FilltoSpill,

A better effort than the BOD have produced to date, that's for sure.

Wish I had the ability to produce such diagrams, but not good at IT stuff.

I know you want to try & keep it simplictic in ways, but the upper section needs to be split in 2 - there is the Permian Cover layer going down to roughly 100M that will be fairly loose material & unlikely to hold any quantity of valuable minerals.

Then you'll have the Malu formation which is probably the material the dyke intersections took place in then the isdell that the Red Setter Dome is in

https://www.aicmines.com.au/projects/exploration-projects/

The other issue is that you have holes 001 & 002 going in opposite directions, I don't know if doing the Schematic going a sort of South west to North east direction, in which case they would both be nearly level angled from NE- to SW slightly but diverging & then the new hole slightly to the north-east of hole 001

I've no idea if they are actually targeting the Dome or not or are just targeting the older hole at depth?

LOTM

Ak247,

Your forgetting the original plan back in June 2025 was to go & deepen holes 1 & 3A from 2023.

So while they await the assay's from 001, the logical thing would have been to use the DD rig to either deepen 001 further or go & deepen 3A as originally planned to 550M

The RC rig could have started its work program chasing the WRSDD0008 result.

LOTM

Hi Ak247,

The SP wasn't necessarily going to go down.

The issue was terrible comms in the RNS, a totally butchered announcement.

Rig 2 arrives at weekend but zero indication as to what it's first tasks are & where, (I was expecting it to be chasing the WRSDD0008 follow up not the DD rig)

The DD rig is now drilling to 500M, but where is the surface location going to be ?

Is it drilling southwards (towards holes 1 & 2) or chasing the Dyke at depth below WRSDD0008 ?

So many questions its just ridiculous.

They should have put together a detailed Presentation for investors outlining there plans weeks ago & have totally failed to do so.

So much has changed since 2023, yet they simply can't get it in there thick heads that they need to convey all those changes to investors in a meaningful & easily understandable way. The opportunity to do so has been there for them for weeks & they simply refuse to do it.

So instead of everyone understanding the plan & what's going on, everyone is now confussed.com but they can't see that or understand that.

Its just pathetic.

They need to cancel all there plans for the weekend & spend there time instead sitting down preparing a detailed Presentation ready to be released Mon/Tues next week.

End of Story.

LOTM

Morning All,

hmm BOD clearly aren't learning any lessons at all, sheer stupidity yet again.

No actual diagram/schematic around the Red Setter Dome in this update, just a butchered copy & paste from previous RNS's

No one knows visually where holes 1 & 2 ended up compared to the current interpretation of Red Setter Dome, or in which direction this new hole is actually going to be drilling/targeting.

Its absolutely pathetic.

No thought process whatsoever going into trying to convey a coherent message/strategy to Shareholders & Investors !!!

Not to mention, the new rig arrives this weekend, so what's its first task ?

You just couldn't make it up, Dumb & Dumber could do a better job than this lot in 15 mins.

Good Progress made with yesterdays interview then backed up by an ill thought out & ill prepared RNS & back to square one, if they'd maybe spent the time after recording the interview, in preparing a detailed RNS with the factual diagrams required, instead of probably patting themselves on the back having a few beers to celebrate, then putting that piece of rubbish together half pis*ed at 5 mins notice & now because of it no-one really knows what's going on, its all guesswork for investors yet again.

Stupidity rains at WSBN.

Get those RNS prepared with proper meaningful data in them.

LOTM

So from Ed Mead said in the interview

"So at around US$4,000, one gram of gold in Australian dollars is 200 Australian dollars per gram

Mining operation costs normally are about, you know, per ton would be in the vicinity of, you know, costs have gone up, $80 a ton for processing, potentially, you know, 40, 50 for mining."

Now if you have a block that is 7M x 200M x 200M = 280,000 cubic meters = 756,000 T

At 2g/t gold & 0.38% copper (over 8lb per T) that has a value in A$ of A$450 ( gold A$400 + copper credits A$50) then lower that to account for the lower recovery rate through the processing of the ore & call it A$375 per T processed.

If you allow say A$100 per T for Toll processing & lets say we even went with A$80 for mining & A$20 for trucking to Telfer that would come to a cost base of A$200 per T supplied.

Margin is A$175 so that would give you A$130M towards the development of the Red Setter Dome deposit & your entrance to it would already be at 300M deep (& fully funded to that point via the mining costs).

Ok you've only got @ $70M of net funds out of the $1.7Billion needed for your own operational facility, but if you've already proven up X million ounces of gold & Y pounds of copper inside the Dome, you should be able to borrow against it like SOLG is effectively doing at very competitive rates & still maintaining 100% of the property.

LOTM

Hi NettlesTheCat,

I think Ed Mead, is wanting to chase that 7M width especially towards surface in part to answer your question.

If they can find a similar grade & width starting at 100M depth ( because we're not going to find it in the "Permian Cover" I think that's pretty certain) & if it extends for several hundred meters in length and goes to 300M depth, then you suddenly have 2 things.

A viable open pit cut that they could then have toll mined at Telfer ( bringing in valuable $$$ & that same narrow cut could then be the entrance to the underground mine.

That would be a game changer in economic terms - brings in early revenue & at the same time dramatically reduces your cap-ex at the same time to get to the Red Setter Dome deposit.

LOTM

So from what Ed Mead was saying, he wants to "chase" this

https://wishbonegold.com/wp-content/uploads/2023/12/WSBN-RNS-231204-Mineralisation-over-3km-strike-at-Red-Setter-kmw2.pdf

Particularly what was found in hole WRSDD0008, so he wants to know what happens to it as it goes deeper & what happens to it as it it becomes shallower. ie does it expand or shrink in width as you move both up & down? does the grade stay pretty steady or does it change depending on whether your going deeper or shallower?

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

They clearly want to speed up the data gathering & if that means helicoptering in staff due to rains etc then there prepared to do that ( even although it will be fairly costly to do so).

I believe the reason for that is that they want to prove up as much of the Red Setter Dome find as they possibly can before someone comes along with a takeover offer or joint venture offer. Its hard for a 3rd party to argue that "your just speculating as to what's possibly there" compared to "no we've shown you what we already have & the deposit is still open in all these directions" because the difference in valuation attributable to WSBN in those circumstances will vary enormously based on what is or isn't likely to be there.

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

The problem about the share price currently is that no-one ( outside of WSBN) has any true idea as to the sort of grades & widths they have because there are ZERO assay results from within the Red Setter Dome to go on. Once we get to see what the grades are like & just as importantly the width's of various distributions within the cores, we'll have a much better idea as to how big in size & mineralisation Red Setter Dome is.

Its very exciting times for sure & you've got to be in it to win it.

Drill Baby Drill

LOTM

I forgot to mention ............

Why on earth was the Chairman pictured with an elephant right to the side of him ?

Then its suddenly clicked ..........

Its a clue to an "Elephant" discovery at Red Setter Dome ...........

Drill Baby Drill

LOTM

For those that might have missed this from last night (found by Thenorseman)

https://www.linkedin.com/posts/core-drilling-services_coredrilling-diamonddrilling-exploration-activity-7383636408202248192-gSfS

Now that is very recent core from Red Setter Dome, it looks more coloured than you might expect, that's because its not been cut, cleaned & washed yet, but you can see the whiteness near the bottom of the core !!!

Drill Baby Drill - hopefully 1100M should be on the cards for late tomorrow night UK time.

GLA

LOTM

Casper786,

I think the most telling part of the interview was Ed, saying we will helicopter people in if need be !!

So they have no intention of stopping drilling other than for the festive period !!!

They must be seeing some exciting things from those latest cores to be saying that.

Drill Baby Drill

GLA

LOTM