Member Info for LOTM-13

Ah nightshifts, yes I remember them ! :(

Oh the massive mound of earth in the new pictures tell you they certainly drilled hole 2 to at least the point of setting surface casing.

Beyond that impossible to say, without knowing if they have 1 rig or 2 rigs on site.

Each passing day they continue to drill hole 1 & stay in mineralisation the better, just keeps adding another 20M to the deposit (or 40M if on double shifts).

LOTM

Well get tweeting then please AimInvesting & see what response it generates from them! :)

LOTM

Those who are X users should be sending tweets to the WishboneGold account, the 2 directors & D Lenigas, asking "since you're clearly back drilling ahead & taking fresh core from hole 1, how deep have you now got & have you got a 2nd rig on site drilling hole 2, your shareholders want to know"

LOTM

Hi Casper786,

Unless they have 2 drill rigs onsite, hole 2 will currently be static, because the pictures from Wednesday 3rd Sept 4:38pm Perth time clearly show the drilling rig at the hole 1 surface location - ie deepening it.

LOTM

Hi HarriM,

A couple of things, - A drill rig is back inside hole 1 deepening it ..........

They are trying to hit the centre of the Breccia Pipe via the Dome Hinge, so they are unlikely to hit it much earlier if at all possibly deeper according to Smart GPT-5 because the Breccia is dipping SSW by all accounts. We'd also need there to be a 2nd rig on site for drilling to actually be occurring on hole 2 currently.

For too little info to go on right now

LOTM

Hi Cebo-456,

I asked Smart GPT-5 to run a few scenario's for me regarding Red Setter Dome (for illustrative purposes only) for a deposit at a depth of 500M from surface, with the deposit measuring 400Mx400Mx400M or the deposit measuring 400Mx500Mx1500M in neither case is "toll processing of the ore" the preferred option financially. Yes it reduces the capex number from possibly $1.8B to $900M instead but unless you got a big discount to the normal "toll" cost the numbers simply don't add up. Even with this route giving you earlier cash inflows.

So that really leaves 2 options, if Red Setter Dome is commercially viable then GGP buys WSBN outright, or WSBN builds its own processing facility either there debt funding etc or one of the other majors out there doing a JV or such like or offering to buy it outright itself.

Anyway we still need to see what the assay results actually say.

I used 0.3% CU & 0.3g/t AU for my numbers, but even changing them (which I didn't do) won't move the needle in the favour of "Toll" mining, even although it only being 15km away in ones head makes it look the logical choice. The only way it stacks up is if GGP were to give you a very low $ per ton processing cost!

LOTM

Good Results, Bad Results, or Ugly Silence !

Tick tock

LOTM

Is this what today's going to be like at WSBN?

https://youtu.be/IFNUGzCOQoI

GLA

LOTM

Freezer11,

If there's not an RNS pre-market open or 9am then there NOMAD's ears will be burning (figuratively speaking) once I've spoken to them.

LOTM

Hi Freezer11,

Given the buzz around Red Setter Dome & the cash they now have, I think having 2 rigs onsite is a must (with the potential to add a 3rd or 4th one if needed).

One could be assigned to drilling deeper into the structure, while the other is doing step-outs to see how large it is.

Lets just say I'm not at all happy with what's going on communications wise

LOTM

If you look at the 3rd picture from yesterday as well, there are 6 core trays on the ground, the picture isn't close enough to see if those ones are filled with core or not, but I highly suspect they are, given the set-up.

So that would mean roughly another 24M of cores have come out the ground - I guess they will store them somewhere securely overnight, so we may only be seeing like 1 days worth.

LOTM

Hi Legalwolf,

Oh they definitely started to drill hole 2 ( & if they have 2 rigs on site are still drilling it) the new massive mound of earth visible in the new pictures tells you that, which would say they got to 150M or so as planned & set surface casing. I'd say that's near enough 100% accurate & I recon they will have set the surface casing by Sat 30th August at the latest if not before on hole 2.

The question is what have they done since then !

And that depends on whether they now plan to use 2 rigs going forward etc

LOTM

Hi Whisp3rs39,

Yes I know that's what they said & I have been assuming that they would be drilling hole 2 to 1000M or more because it is targeting the centre of the Breccia Pipe.

However the latest public info effectively says "Yes we are doing that & have brought in a 2nd rig to deepen hole 1" OR "on viewing the cores & other information we felt we needed more data from a deepened hole 1 to give better guidance for hole 2's final location within the Dome & so stopped after X meters (or on setting surface casing) & went back to hole 1 with the additional rods now on site"

And they now need to tell us which of the above is true!

LOTM

Hi FillToSpill,

Thanks for trying to find the info for me :)

The bigger diameter rods are clearly in the white stacking machine in https://x.com/WishboneGoldPlc/status/1959496344319496523?s=19 with the normal DD rods on the ground.

Note where the earth pile is, compared to the stacker & rig etc ( No road visible) the blue tanks to the left etc.

Now compare all of that with https://x.com/WishboneGoldplc/status/1963198787834216751

Note the hut is now between the massively increased earth pile & the stacker, in the 3rd picture there is a road, not in the other photo's, where have the blue tanks gone ?

So they are absolutely back deepening the original hole.

Whether they have a 2nd drill rig on site we clearly can't tell from the pictures, so either they've drilled the 2nd well, set surface casing & then drilled a bit more of it, or just stopped at that point in time & gone back to the original location & decided to deepen that one 1st one with only 1 rig onsite, I can't say.

What's clear is there now deepening that 1st hole !!!

If they are on single shifts then it will be going about 20M a day if double shifts 40M a day.

Now even if they've only been back deepening it for 2 or 3 days that would be 40-60M minimum possibly 80-120M if on double shifts!

Frankly we now need Official RNS answers from the company end of story, no more of these X posts Official RNS news.

LOTM

Https://x.com/DavidLenigas/status/1959298605388292373 - this one talks about it but there is another post with pictures a bit like those we saw yesterday from a couple of new angles around the new drill location.

Ok after much searching through all the old LSE posts!

https://x.com/WishboneGoldPlc/status/1959496344319496523?s=19

LOTM

ManxKippers,

Yes I know those 3 pictures from yesterday in that link are all of the same surface collar location, but its the exact same location as the original hole had.

Lenigas posted pictures on 23rd August of the drill being at the new well location close by & starting to drill to 150M before setting surface casing.

When I saw the pictures yesterday I thought they were of the new well drilling ahead when in fact there not, that rig drill is back in the original drill hole!

Which is why I want the pictures of the new hole being drilled to prove it all, but I don't use X so can't find the required links etc to it :(

LOTM

HalfPennyKenny,

Because if they are back deepening the original hole beyond the reported 777M depth that is a significant event & one they have not informed the market about.

Every day they drill deeper while still in mineralisation it increases the potential resources of the Red Setter Dome.

LOTM

Can someone with access to X help me please!

Can you find the posts from D Lenigas & the WSBN accounts relating to the drilling of the new 2nd hole from like sat 23rd Aug onwards.

Because the penny has just dropped with me, that the post yesterday

https://x.com/WishboneGoldplc/status/1963198787834216751

Was actually telling us that they have 2 rigs in place! why on earth they haven't RNS'd that if I'm right who knows!

Thanks

LOTM

Tiger16,

WSBN have got very lucky (ie Wishbone lucky) in that they expected to hit the top of the Red Setter Dome at 550M & to carry on drilling down to 630M (that was there pre-drill hope before moving onto the 3A hole that had already been drilled to 270M & extending it as well.

Instead they hit the Dome hinge at 520M, a Breccia Pipe at 570M (that ended up lasting for 152M to 722M) & were still in mineralisation at 777M !

They quickly realised that this was not the prime location for the Breccia Pipe its centre is thought to be to the west, (they only hit the outer edges of it ) which is why they decided to drill a brand new hole from surface starting about 25M from the first hole, targeting to be about 75M SouthWest of that holes location at a depth of 550M hopefully in the centre or near centre of the Breccia Pipe.

That hole is currently progressing & if they are on double drilling shifts they should hit the Dome Hinge on Mon/Tue next week & the Breccia Pipe a couple of days after that, they intend to drill it all being well to 1000M or more as long as it stays in mineralisation or is providing important information on potential deposit.

So there will be lots of news to come in a short space of time & the new hole should have better grades than whatever turns up in hole 1.

LOTM

Exactly Brucebanner,

Somehow some of those that have left here think WSBN was only cashed up to drill a couple of holes for goodness sake

And yet thought some other company with less cash was going to be drilling far more holes than us at 1000M+ a time from surface!

Anyway its after close of day in Perth, so any data regarding some of the assay results will have been sent to WSBN (if any were ready) so just a case of waiting to if there is an RNS or X posts in coming ?

LOTM