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Balmoral Resources Ltd.
Summary
| Project: | Martiniere | |
|---|---|---|
| Deposit: | Bug North | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 11/22/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 22-11-2016: Balmoral Resources Ltd. announces an Exploration/Drilling Update report for its Bug North deposit at the Martiniere project. Drilling results incl. 48.55m @ 1.07g/t Au from 707.30m. (Vancouver, November 22, 2016) Balmoral Resources Ltd. (“Balm | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Darin Wagner (Internal) | |
| ABSTRACT: | (Vancouver, November 22, 2016) Balmoral Resources Ltd. (“Balmoral” or the “Company”) (TSX:BAR; OTCQX: BALMF) announced that the first of three deep holes drilled this summer on its wholly owned Martiniere Property in Quebec has successfully extended the Bug North gold deposit to a vertical depth of approximately 550 vertical metres. This intercept, the deepest to date along the Bug Lake Gold Trend, increases the known vertical extent of the Bug North deposit by 140 metres (or 36%) and confirms that the deposit remains open down-plunge for further expansion. Hole BLD-16-01 intersected the Bug North Footwall Zone over a down-hole width of 48.55 metres, returning an average grade of 1.07 g/t gold. Two higher grade sections are present within this interval which returned 1.57 metres grading 6.66 g/t gold and a deeper intercept of 6.43 metres grading 4.36 g/t gold, including 1.50 metres grading 10.75 g/t gold. Several other gold mineralized intervals were intersected at shallower depths (see Table below; Figure 1 and Figure 2). The Company also reported results from hole MDE-16-232 which returned 13.55 metres grading 1.66 g/t gold from the Bug North Footwall Zone including two higher grade intervals of 1.71 metres grading 5.27 g/t gold and 1.15 metres grading 9.63 g/t gold. MDE-16-232 intersected the Bug North Footwall Zone approximately 300 metres shallower than BLD-16-01 indicating that the zone may be increasing in width to depth. | |
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