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Balmoral Resources Ltd.
Summary
| Project: | Northshore | |
|---|---|---|
| Deposit: | Afric Gold Zone | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 8/22/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Scoping Study | |
| Report details: | 22-8-2016: Balmoral Resources Ltd. announces an Exploration/Drilling Update report for its Afric Gold Zone deposit at the Northshore project. JV with GTA Resources and Mining Inc. - drilling results incl. 23m @ 4.06g/t Au from 3m. (Vancouver, August 22, 2 | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Robert Duess (GTA Resources and Mining Inc.) | |
| ABSTRACT: | (Vancouver, August 22, 2016) Balmoral Resources Ltd. (“Balmoral” or the “Company”) (TSX: BAR; OTCQX: BALMF) has received, from joint venture partner GTA Resources and Mining Inc. (“GTA”; TSXV:GTA), the results from 36 shallow (surface to approximately 30 metres vertical depth) drill holes recently completed on the Northshore Property located near Schreiber, Ontario. Drilling focused on delineation of the high-grade Audney and Caly vein systems which outcrop at surface and are located within the central core of the broader Afric Gold Zone (see Figure 1). Drilling continues to intersect very high grade (> 1 oz/ton), near surface, gold mineralization (including 139.00 g/t gold over 1.20 metres, 72.40 g/t gold over 1.0 metre and 39.3 g/t gold over 1.50 metres – see table below) along both the Audney (D - series holes) and Caly (A - series holes) vein systems. “We are pleased to see the current drill program further delineating the near surface potential at Northshore and appearing to outline local continuity to the high-grade vein systems located at the core of the broader Afric Gold Zone” said Darin Wagner, President and CEO of Balmoral Resources. GTA, as operator of the Northshore Property, is currently evaluating the near surface potential of the Afric Gold Zone on the Northshore Property. The Company has been advised that GTA anticipates resuming the current drill program on the Property in early September and that it should be completed within one month of commencement. GTA has further advised that preliminary metallurgical work on two composited drill core samples, one from each of the Caly and Audney vein systems, is currently underway. | |
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