Targeting multi-million high-grade oz. in Quebec

Windfall Lake Property, located near Val d'Or, Quebec: Indicated 538,000 oz. (10.05 gpt) / Inferred 822,000 oz. (8.76 gpt) (July 2012)

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Message: My take

My take

posted on Mar 15, 2010 08:18PM

First, I will start by saying that I invested in NOT for the Windfall project...so I've been following this for some time now.

OK....so first we hit this 52 oz/ton gold in hole 100....W-3 zone

Then, there's plans to tunnel down to the area of W-3 zone. I remember a speach by RN about how there would be enough gold there to pay the whole cost of the ramp. I believe the cost was to be about 18 million.

OK....so then they had this JV with Murger and Freewest....and they would start the ramp on their properties and go through a couple of zones where it was felt there would be some potential....I think F-11 and F-17.....something like that......a little lazy to check right now

Ok....so then we get some assay results.....or bulk ton results...muck sampleing; something like that..on the F-11 and F-17 zones......respectable grades over 50 meters + in one area (I believe about 3 g/ton) and in the other area I believe less than 2 g/ton over about 22 meters......keeping in mind the huge dilution due to the size of the tunnel....so, still showing some potential

Then....visual gold...they even posted a picture of it.....which I believe they followed for a bit....but, don't remember hearing any more on that

Ok....so then everyone's waiting for when the reach the W-3 zone....and we get nothing...no assay results whatsoever. Meanwhile, we have this proxy battle brewing over NOT. Some deal is made and RN steps aside.....then vauge comments about how the W-3 area did not meet expections....or less significant than expected....very vauge comments. When the shareholders of NOT start to push, they come out and say they will give us the results by the end of the month. Then what do you know; before the end of the month arrives, NOT makes this deal to option off the Windfall property to Eagle Hill.

Then...RN reappears on the board of Eagle Hill....as does Mac Watson (that whole takeout thing involving NOT and Cliffs; where Cliffs wins the day and Mac buddies up with RN at Eagle Hill)

Also, Murger....who also had a 50% JV interest also agrees to option off thier interest to Eagle Hill as well.

OK....so where am I going with all this? Truth is....I would still like to keep the discussion going with respect to the W-3 area until we get some straight answers.

Are we to believe that when they got to the W-3 area they found nothing? Would you not think that there would have been some gold there that could have been bulk sampled for some cash revenue? Something....anything....nothing? Certainly not much in the way of discussions.....completely abandonded?

Perhaps this was part of the deal to have RN step down....that he could keep his baby.

What are other's thoughts on this?

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