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Balmoral Resources Ltd.
Summary
| Project: | Martiniere | |
|---|---|---|
| Deposit: | Bug South | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 9/7/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 7-9-2016: Balmoral Resources Ltd. announces an Exploration/Drilling Update report for its Bug South deposit at the Martiniere project. Drilling results incl. 115.45m @ 1.40g/t Au from 74.05m. (Vancouver, September 7, 2016) Balmoral Resources Ltd. (“Balmor | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Darin Wagner (Internal) | |
| ABSTRACT: | (Vancouver, September 7, 2016) Balmoral Resources Ltd. (“Balmoral” or the “Company”) (TSX: BAR; OTCQX: BALMF) today reported that ongoing drilling has demonstrated a rapid increase in the width of the Bug South Gold Deposit on the Company’s Martiniere Property in Quebec. Drill holes MDE-16-217 to MDE-16-220 returned gold mineralized down hole intercepts ranging from 25.90 metres to 115.45 metres at average grades of 0.96 to 2.73 g/t gold from the Upper Bug Zone (see table below). The four holes intersected the Upper Bug Zone at vertical depths of 110 to 145 metres, 50 to 100 metres below and lateral to previous drilling (see Figure 1 – Bug South Deposit, Upper Bug Zone Long Section). The rapid increase in the width of the gold mineralized zone is apparent in Figure 2, a cross-section through holes MDE-16-217 and MDE-16-218. The deposit remains open to depth and down plunge. Gold mineralization within the Bug South Deposit, while primarily contained within the Upper Bug Zone, is also associated with the Lower Bug, HWP, and Zinc Zones. As with previous drilling the broader gold mineralized intervals contain higher grade sub-zones. “The rapid expansion of the Bug South Deposit and the strengthening of the mineralized system apparent from today’s results are potential game-changers for the Bug Lake South area. With Bug North and Martiniere West there are now three near-surface gold deposits on the Martiniere Property (see Figure 4). All three are open at relatively shallow depths for expansion, and a number of other prospective zones and exploration targets can add to this list” said Darin Wagner, President and CEO of Balmoral. “Permits for a series of holes which will allow for the continued testing of the Bug South Deposit along strike from, and to depth beneath, the holes announced today were recently received and one drill is already active in this area. A second is anticipated to move from testing the Lower Steep Zone to this area within the next several days.” | |
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