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Balmoral Intersects 12.50 g/t Gold Over 7.99 Metres, Bug Lake South, Detour Gold Trend Project, Quebec

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Balmoral Intersects 12.50 g/t Gold Over 7.99 Metres, Bug Lake South, Detour Gold Trend Project, Quebec

 

 

 

 

 

Balmoral Resources Ltd. (TSX: BAR) (OTCQX: BALMF) today reported results from the first six holes of the summer 2014 drill program on the Company’s wholly owned Martiniere Property. All six holes tested the southern extension of the Bug Lake Zone (see Figure 1 and Figure 2), intersecting high-grade gold mineralization along the upper contact of the Bug Lake Porphyry. Today’s results further demonstrate the continuity of the Bug Lake system. Results were highlighted by intercepts of 12.50 g/t gold over 7.99 metres, including 132.50 g/t gold over 0.72 metres in drill hole MDE-14-147 and 5.23 g/t gold over 7.28 metres in drill hole MDE-14-149. The southern extension of the Bug Lake Zone has been intersected for 650 metres along strike and remains open to the south and to depth.

 

 

In addition, the Company has confirmed a new discovery – the HW Porphyry Zone – which occurs along the lower contact of a northeast striking, south-east dipping porphyry sill located east of the Bug Lake Zone. This new zone appears to be open in all directions and features results of 5.11 metres grading 4.32 g/t gold in MDE-14-147 and 2.89 metres grading 12.30 g/t gold in MDE-14-149.

 

 

Gold Intercepts – Bug Lake South 

 

Hole

Northing

Easting

Dip

From

To

Interval*

Gold

Zone

Number

(Metres)

(Metres)

(Metres)

(g/t)

MDE-14-147

3+25 S

0+90 W

-50

259.72

275.41

15.69

1.72

HW Porph

including

261.67

266.78

5.11

4.32

288.32

296.31

7.99

12.50

U Bug Lake

including

293.06

293.78

0.72

132.50

329.08

332.60

3.52

2.25

L Bug Lake

341.60

353.70

12.10

0.82

Footwall

Including

341.60

342.30

0.70

5.05

MDE-14-148

3+25 S

0+90 W

-55

268.44

276.12

7.68

2.24

HW Porph

including

273.05

274.06

1.01

15.55

299.93

305.14

5.21

1.69

U Bug Lake

Including

302.10

304.12

2.02

4.03

373.30

376.95

3.65

0.89

L Bug Lake

MDE-14-149

2+75 S

1+35 W

-52

160.04

165.30

5.26

4.01

New Vein

including

160.63

161.09

0.46

34.50

178.59

180.79

2.20

2.31

?

including

180.00

180.79

0.79

5.46

198.18

209.20

11.02

3.58

HW Porph

including

198.18

201.07

2.89

12.30

which inc.

200.20

201.07

0.87

35.10

224.47

227.93

3.46

3.27

?

295.14

302.42

7.28

5.23

U Bug Lake

including

299.04

302.42

3.38

10.88

310.52

313.09

2.57

3.43

L Bug Lake

including

312.47

313.09

0.62

9.14

MDE-14-150

2+75 S

1+35 W

-55

245.00

245.77

0.77

3.86

?

321.92

324.26

2.34

3.96

U Bug Lake

including

323.20

324.26

1.06

7.33

351.80

353.21

1.41

3.76

Footwall

MDE-14-151

4+00 S

1+35 W

-52

222.96

231.60

8.64

0.72

U Bug Lake

including

224.44

225.78

1.34

3.35

MDE-14-152

4+00 S

1+25 W

-60

202.03

211.42

9.39

1.00

HW Porph

including

208.87

210.05

1.18

6.34

351.70

360.37

8.67

0.57

FW Pyrite

 

* Reported drill intercepts are not true widths. At this time there is insufficient data with respect to the shape of the mineralization to calculate true orientations in space.
U Bug Lake = Upper Bug Lake; L Bug Lake = Lower Bug Lake; HW Porph = Hanging Wall Porphyry; ? = Unassigned, vein style mineralization
 
 

 

 

Additional vein style gold mineralization continues to be intersected in the hanging wall and footwall to the main Bug Lake Zone. The north-south trending Bug Lake Zone locally transects northeast striking, stratabound massive sulphide units both to the east and west of the Zone. Gold bearing intercepts associated with these sulphide horizons exhibit strongly elevated silver (3.5 to 92.1 g/t) and zinc (0.1 to 1.4%) values, suggesting potential for polymetallic sub-zones within the broader Bug Lake system.

 

 

Fourteen additional holes, completed along the northern segment of the Bug Lake Zone, remain pending.

 

 

About Balmoral Resources Ltd.

 

 

Balmoral is a Canadian-based discovery company focused on high-grade nickel and gold discoveries on its wholly owned, 700+ square kilometre Detour Trend Project in Quebec, Canada. With a philosophy of creating value through the drill bit and a focus on proven productive precious/base metal belts, Balmoral is following an established formula with a goal of maximizing shareholder value through discovery and definition of high-grade, Canadian base metal and gold assets.

 

Posted October 8, 2014

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