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Balmoral Resources Ltd.
Summary
| Project: | Martiniere | |
|---|---|---|
| Deposit: | Bug Southeast, Bug Lower Steep | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 2/2/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 2-2-2017: Balmoral Resources Ltd. announces an Exploration/Drilling Update report for its Bug Southeast, Bug Lower Steep deposit at the Martiniere project. Drilling results incl. 51.28m @ 1.19g/t Au from 217.74m. Balmoral Resources Ltd. (“Balmoral” or the | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Darin Wagner (Internal) | |
| ABSTRACT: | Balmoral Resources Ltd. (“Balmoral” or the “Company”) (TSX: BAR; OTCQX: BALMF) today announced the discovery of a new near surface zone of high grade gold mineralization, the fourth new discovery from the summer/fall 2016 drill program, on its Martiniere Property in Quebec. The new discovery returned an intercept of 11.66 metres grading 6.25 g/t gold. This includes a higher grade core of 5.47 metres grading 12.48 g/t gold. The new discovery is located 250 to 300 metres east of the projection of the main Bug Lake Gold Trend in a largely untested area of the property (See Figure 1). The four holes reported from testing of the Lower Steep deposit span approximately 200 metres of down plunge, and 150 metres of vertical, extent. They further demonstrate the continuity of the gold mineralized zones which comprise the Lower Steep deposit. The Lower Steep is the least tested of the four principal gold deposits on the property. Gold mineralization has now been intersected along the Lower Steep for 850 metres down-plunge from the bedrock surface in 32 broadly spaced drill holes. “This new discovery further broadens the footprint of the Martiniere gold system and opens up exciting new opportunities on the exploration/growth front proximal to the expanding deposits along the Bug Lake Gold Trend” said Darin Wagner, President and CEO of Balmoral. “Along with continued strong results from the Bug South deposit (see NR 17-02; Jan. 23, 2017) and today’s positive results from the Bug Lower Steep deposit the scale and scope of the opportunity at Martiniere has taken some major steps forward over the last few months. We are excited to be rolling the drills back out imminently”. | |
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