Page 78 By Kevin V incent W allbridge released encouraging results from its 100owned Fe nelon Gold property in northwestern Quebec including 9891 metres av eraging 281 gt By early May the company s major shareholder worldrenowned gold investor Eric Sprott was expected to own 25 of the compan y s out standing shares President and CEO Marz Kord told Mining Life Exploration News that W allbridge is on a hot streak when it comes to drill results at Fenelon so much so that some of the com pany s other assets have taken a back seat Since acquirin g the property in late 2016 W allbridge has completed an updated resource estimate and a positive prefeasibility study on the existing resource W allbrid ge has undertaken successful surface ex ploration drilling campaigns in 2017 2018 and 2019 and has substan tially completed an underground 35000tonne bulk sample at Fenel on Drilling to date has signif cantly extended existing zones and dis covered several new parallel zones The substantial results at Fenelon are a departure from W allbridge s early prof le which was focused pri marily on copper and nickel plays in the Sudbury area since the 1990 s After the 2008 crash the company decided that it needed to look else where in order to generate cash f ow for shareholders Around that time 201 1 I sold my company Genivar and took on the role of President and CEO here Kord ref ects Kord says the company strategy was to identify assets that could be predeveloped as a junior and po tentially be handed of to a major for production They reviewed over 150 properties and eventually settled on the Fenelon property which at that time was owned by the exploration company Balmoral They were looking for small projects that might be scalable and it turned out that Fenelon was exactly what they were looking for Balmoral was looking for a big for est while what we were looking for was a couple of cherry or oak trees Kord smiles At the time the property had an es timated 40000 ounces They paid Balmoral 35 million and a 1 roy alty in late 2016 In 201415 W allbridge managed to raise a little over 4 million in work ing capital through its Broken Ham W allbridge riding high on early 2019 results Marz Kord W allbridge Mining President and CEO mer property near Sudbury which augmented their plans for Fenelon All of a sudden when we started talking to other companies about their noncore assets we had prov en that we could work properties like Broken Hammer successfully safely and make some money Kord adds Late last year in 2018 W allbridge was about to change its drill ing con tractor two days before Christmas They were on a hole that was sup posed to be about 600 metres Kord explains The guys called me and said they wanted to extend the hole to whatever depth it takes over the next two days and then we can let this contractor go because we are seeing some promising structures The company kept the contractor over the holid ays and they kept on drilling and they kept hitting miner alization we like to refer to as Area 51 Kord said It was actually hole 51 and we named it Area 51 be cause the guys said we think the truth is out there he adds The company continued the pro gram and hole 52 continued with another 275 metres of mineraliza tion results can be reviewed on the company s website W allbridge is establishing what it calls a pipelin e of projects that will support sustainable production and revenue as well as organic growth through exploration and scalability W allbridge is currently developing its 100owne d highgrade Fenelon Gold property in Quebec with ongo ing exploration and a bulk sample W allbridge is also pursuing other additional advancedstage projects which would add to the Company s nearterm project pipeline These discussions benef t from the oper ating capabili ties W allbridg e dem onstrated by safely and ef ciently mining the Broken Hammer deposit in Sudbury which was completed in October 2015 As part of this strat egy the Company recently optioned the Beschefer Project an advanced gold property with proven size and gradepotential near Fenelo n Gold W allbridge is also continuing part nerfunded exploration on its proj ects in Sudbu ry Ontario with a fo cus on its highgrade Parkin project Fenelon is located in northwestern Quebec proximal to the Sunday Lake Deformation Zone SLDZ which hosts the Detour Gold Mine in Ontario and Balmoral Resources gold deposits at Martiniere Fenelon hosts the Discovery Zone gold de posit and surrounding 4 km strike length of a goldhosting secondary splay of the SLDZ As for handing the property of to a major Kord says it s still too early to say whether that will happen In the meantime everything seems to be pointed in that direction