When BAR sold Fenelon to Wallbridge, BAR was being feted for excellent finds at Martinere and Grasette. What was not obvious to us shareholders at that time was that BAR mgtmt was almost grossly negligent in it's handling of Fenelon BEFORE the sale of that property to Wallbridge. While I am a sizeable holder of both stocks, it bothers me greatly to read about the almost gross negligence of BAR management. If u remember back, BAR was constantly labeling new areas of Martinere and Bug Lake as " new discoveries" when in the final result they were really not that significant overall.
Below is an excerpt from a Wallbridge board post which show us BAR shareholders that BAR's Fenelon core shack had unsampled, apparently rich core housed within it that BAR management never sent out for assays. In addition, rich read outs of core existed from as far back as 2004 and BAR did not follow up on them.
Now we have BAR management emphasizing "blue rock" discoveries and new areas of NI deposits. BAR management needs to convert back to sober careful management, not flashy new finds. Wallbridge may ultimately report finding as many as 20 mil ounces at Fenelon and BAR has already proven that Area 52 of Fenelon -owned by BAR- is a continuation of WM's area 51 deposit at Fenelon.
No sooner did BAR report that result and then they turned back to drilling and announcing drilled NI finds and describing the notorius "blue rocks".
BAR needs to emphasize it's Area 52 work and continue a modest program of drilling for NI, NOT THE OTHER WAY AROUND.
Here's the excerpt on Fenelon history that BAR totally missed.
2016 Toronto, Ontario -- May 25, 2016 - Wallbridge Mining Company Limited (TSX: WM, FWB: WC7) ("Wallbridge") is pleased to announce that it has entered into a binding Letter of Intent ("LOI") dated May 24, 2016 (the "Agreement Date") to acquire 100% of the Fenelon Gold Property ("Fenelon Mine Property") from Balmoral Resources Ltd. (TSX:BAR; OTCQX:BALMF) ("Balmoral") for a purchase price of $3.6 M. Toronto, Ontario -- August 4, 2016 - Wallbridge Mining Company Limited (TSX: WM, FWB: WC7) ("Wallbridge") today announced the filing on SEDAR of independent NI 43-101 technical report completed by Pierre-Luc Richard, P.Geo., Catherine Jalbert, P.Geo. and Bruno Turcotte, P. Geo. of Innovexplo Inc. ("Innovexplo") entitled "Technical Report and mineral resource estimate for the Fenelon Mine Property" dated July 29, 2016. This filing follows upon the press release of July 14, 2016, which referenced the summary highlights of the new resource estimate. Highlights of the technical report as previously announced in the Wallbridge's July 14, 2016 press release are as follows: Highlights: - The measured and indicated mineral resource is 91,100 Tonnes at 12.97 grams per tonne gold containing 38,000 ounces of gold
Yes you read that right, 38,000 ounces in 2016. Toronto, Ontario - December 5, 2016 - Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) ("Wallbridge") is pleased to announce that its sampling program on the Fenelon Mine project in Quebec has continued to identify new gold mineralization in drill core which was not previously sampled, from historic holes located in close proximity to the mine workings. Highlights from sampling of unsampled drill core include: - 19.7 g/t gold over 1.90 metres in hole 1050-005
- including 47.94 g/t over 0.75
- including 89.3 g/t over 0.35 metres (as reported on November 16, 2016 press release)
- 8.37 g/t gold over 1.25 metres in hole 1040-002 (together with historic assays forms part of an intersection of 20.17 g/t gold over 6.21 metres)
As is states; these are from unsampled drill cores. Balmoral could have sent these for assays but obviously chose not too.
2017 March 20, 2017 The Phase 2 Program has commenced and consists of approximately 2,000 metres of surface drilling designed to test targets in close proximity to the initial mining project. Proposed drill hole locations are shown as blue stars on Figure 1. The objective is to better define the targets for follow-up resource definition drilling from surface and underground early in the mine life. The proceeds from the recent FT Share financing will be used to complete Phase 2. image: https://www.wallbridgemining.com/i/maps/2017-Fenelon-Long-Section-Feb-15.jpg
April 18, 2017 Toronto, Ontario -- April 18, 2017 -- Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) ("Wallbridge") is pleased to announce that the initial results from Wallbridge's first drilling program on its 100% owned Fenelon Gold property ("Fenelon") in Quebec have exceeded expectations and have confirmed the resource expansion potential on the property. The exploration drill program at Fenelon commenced in March 2017 and to date nine holes have been completed totaling 1,573 metres. An expanded drilling program will resume when the wet spring conditions subside. Highlights - Five of the nine holes completed intersected significant gold mineralization.
- Drill hole FA-17-07 intersected three mineralized zones including 7.06 metres of 149.08 g/t gold with a higher grade sub-interval of 3.72 metres of 281.30 g/t gold.
Look at those numbers back in 2017!! Toronto, Ontario -- July 12, 2017 -- Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) ("Wallbridge") is pleased to announce preliminary results of the ongoing second phase of its exploration drilling program on the 100% owned Fenelon Gold property ("Fenelon") in Quebec. While assays are still pending, all fourteen drill holes completed to date have intersected the targeted mineralized structures with eight drill holes intersecting substantial intervals containing visible gold. Additional drilling from surface is being planned.
Does that sound familiar in 2019??? Of course it does!!!
September 5, 2017:
This is where we first hear the "Viper, Habanero, Paprika, and Cayenne" zones. All at shallow depths Highlights
- Results follow Wallbridge’s announcement of preliminary results on July 12, 2017, which reported eight holes intersecting substantial intervals containing visible gold.
- Drill hole FA-17-17 intersected four mineralized zones including:
- 346.55 g/t gold over 3.06 metres from 134.86 metres down hole in the newly named “Viper” zone in which previous drill hole FA-17-07 intersected 149.08 g/t gold over 7.06 metres (see Wallbridge press release dated April 18, 2017);
- 21.95 g/t gold over 4.45 metres from 110.92 metres down hole in the newly discovered “Habanero” zone;
- 6.13 g/t gold over 5.22 metres from 126.97 metres down hole in the newly discovered “Paprika” zone;
- Drill hole FA-17-18 intersected two mineralized zones including 7.83 g/t gold over 4.64 metres from 121.36 down hole, extending the new Viper zone;
- Drill hole FA-17-19 intersected 12.29 g/t gold over 6.87 metres from 116.72 metres down hole, extending the new Habanero zone;
- Drill hole FA-17-22 intersected two mineralized zones including 67.00 g/t gold over 0.76 metres from 36.00 metres depth, extending the newly named “Cayenne” zone (previously the 109 zone); and
- Drill hole FA-17-23 intersected two mineralized zones including 9.37 g/t gold over 2.99 metres from 132.00 metres down hole, extending the new Habanero zone and leaving it open down-plunge to the west.
The third round of exploration: Toronto, Ontario - November 9, 2017 - Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) ("Wallbridge") is pleased to announce initial assay results from its third round of exploration drilling on the 100% owned Fenelon Gold property ("Fenelon") in Quebec. Results are reported for an initial three drill holes (FA-17-25, FA-17-26, and FA-17-27). Results for another six holes are pending. Mineralization remains open along strike and to depth and follow-up drilling is planned as part of the pending bulk sample for which permits are expected this year. Highlights
- Drill hole FA-17-26 intersected two significant mineralized intervals including 237.81 g/t gold over 7.02 metres from 139.83 metres downhole within the Viper Zone, stepping-out below the previous FA-17-07 and FA-17-17 intersections.
- Drill hole FA-17-27 intersected 122.25 g/t gold over 4.73 metres from 130.12 metres downhole within the Habanero Zone with a higher-grade sub-interval of 362.83 g/t gold over 1.54 metres.
- FA-17-25 intersected two significant mineralized intervals including 4.20 g/t gold over 9.29 metres from 118.04 metres downhole with a higher-grade sub-interval of 7.83 g/t gold over 4.58 metres.
237.91 over 7.02 meters at shallow depth. WOW