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Balmoral Resources Ltd.
Summary
| Project: | Martiniere | |
|---|---|---|
| Deposit: | Bug South | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 10/17/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 17-10-2016: Balmoral Resources Ltd. announces an Exploration/Drilling Update report for its Bug South deposit at the Martiniere project. Drilling results incl. 26.90m @ 4.51g/t Au from 110.90m. (Vancouver, October 17, 2016) Balmoral Resources Ltd. (“Balmo | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Darin Wagner (Internal) | |
| ABSTRACT: | (Vancouver, October 17, 2016) Balmoral Resources Ltd. (“Balmoral” or the “Company”) (TSX:BAR; OTCQX: BALMF) today reported additional results from the summer/fall drill program on its whollyowned Martiniere Property in Quebec. Results were highlighted by the discovery of a new high-grade gold bearing vein zone in the hanging wall to the Bug South gold deposit. This new discovery was intersected in hole MDE-16-221, approximately 90 metres above the Upper Bug Zone of the Bug South deposit. It returned 4.51 g/t gold over 26.90 metres, including separate intercepts of 10.89 g/t gold over 6.80 metres and 15.89 g/t gold over 2.80 metres. In total results from eight holes were reported, five from the Bug South deposit area (MDE-16-221, 222, 223, 226 and 227) and three from the Bug Southeast Zone and extension. The gold mineralized intercepts in holes MDE-16-224 and MDE-16-228 (see Figure 1) extend the strike length of the gold mineralized system along the Bug Lake Gold Trend by approximately 200 metres with it remaining open to the southeast, and to depth on all sections, for further expansion. Drill hole MDE-16-225, tested the Bug Southeast Zone and returned 1.74 g/t gold over 17.16 metres, including two higher grade sub-intervals of 6.00 g/t gold over 1.72 metres and 7.40 g/t gold over 1.71 metres. MDE-16-225 tested beneath hole MDE-16-208, drilled during the winter program, which returned 1.23 g/t gold over 25.02 metres, including two similar higher grade sub-intervals of 8.60 g/t gold over 1.45 metres and 12.00 g/t gold over 1.00 metre (see NR16-10; June 8, 2016). | |
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