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Balmoral Resources Ltd.
Summary
| Project: | Fenelon | |
|---|---|---|
| Deposit: | Area 52 | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 12/4/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 4-12-2019: Balmoral Resources Ltd. announces an Exploration/Drilling Update report for its Area 52 deposit at the Fenelon project. Drilling results incl. 22.08m @ 0.68g/t Au from 171.58m. (Vancouver, December 4, 2019) Balmoral Resources Ltd. (“Balmoral” o | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Michael Tucker (Internal) | |
| ABSTRACT: | (Vancouver, December 4, 2019) Balmoral Resources Ltd. (“Balmoral” or the “Company”) (TSX: BAR; OTCQX: BALMF) announces the successful expansion of the recently discovered, near-surface high-grade Ripley Gold Zone within the Area 51 gold system on its Fenelon Property in Quebec. The Fenelon Property forms part of the Company’s district-scale Detour Gold Trend Project in Quebec. Balmoral’s Detour Gold Trend Project adjoins the holdings of Detour Gold Corp. - the subject of a current $4.5+ billion takeover offer* - on its western end, surrounds and controls a portion of the rapidly expanding Area 51 gold system, as further evidenced by today’s results (see Figure 1), and features Balmoral’s wholly-owned Martiniere gold and Grasset nickel deposits. All nine holes completed during the second phase of drilling in Area 52 targeted the Ripley Zone, which was first intersected in drilling earlier this summer (see NR19-17, September 16, 2019). The Ripley Zone is one of three zones of significant gold mineralization intersected in Area 52 (see Figure 2), which is located immediately south and along trend from Wallbridge Mining’s Area 51 gold discovery. Near-surface follow-up drilling at Ripley intersected anomalous to high-grade gold mineralization within the targeted sheared and sericite +/- silica-altered rock package from the bedrock surface to a vertical depth of approximately 220 metres. Below this the Zone remains open (see Figure 3). Recent results from below the 450 metre vertical level on the adjacent Fenelon Mine Property have shown the potential for a significant increase in grade x thickness to depth within the Area 51 gold system. | |
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