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Balmoral Intersects 57.88 Metres Grading 1.85% Ni, 0.21% Cu, 0.40 g/t Pt and 0.97 g/t Pd; Highest Grade Hole to Date at Grasset

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Balmoral Intersects 57.88 Metres Grading 1.85% Ni, 0.21% Cu, 0.40 g/t Pt and 0.97 g/t Pd; Highest Grade Hole to Date at Grasset

 

 

 

 

 

Balmoral Resources Ltd. (TSX: BAR) (OTCQX: BALMF) reported results for an additional 12 holes testing the Horizon 3 nickel-copper-PGE discovery on the Company’s wholly owned Grasset Property in Quebec. In addition to extending the Horizon 3 sulphide zone to a depth of 350 vertical metres, today’s results continue to feature broad intervals of nickel sulphide mineralization throughout the discovery area and include the highest grade intercept to date from Grasset. Hole GR-14-57 returned a very broad Horizon 3 intercept of 57.88 metres grading 1.85% Ni, 0.21% Cu, 0.40 g/t Pt and 0.97 g/t Pd, which includes a high-grade interval of 20.63 metres grading 3.47% Ni, 0.40% Cu, 0.79 g/t Pt and 1.92 g/t Pd. This high grade interval is capped by, and includes, a previous reported 1.51 metre thick interval of massive sulphide which returned 14.96% Ni, 0.74% Cu, 3.03 g/t Pt and 5.61 g/t Pd — further emphasizing the very high nickel tenure of the Horizon 3 sulphide mineralization.

 

 

Reported intercepts also begin to demonstrate the continuation of high-grade nickel sulphide mineralization to the northwest of the previously intersected fault/disruption corridor (Figure 2). Strong Horizon 3 intercepts are reported from holes GR-14-54 (including 3.82 metres grading 4.01% Ni within a broader mineralized intercept (see below)), GR-14-60 which returned 33.80 metres grading 1.44% Ni, 0.17% Cu, 0.31 g/t Pt and 0.80 g/t Pd and GR-14-56 which features a 0.85 metre, fault bound, massive sulphide intercept which returned 10.58% Ni, 1.23% Cu, 2.49 g/t Pt and 6.41 g/t Pd. (see Figure 1, Figure 2 and Figure 3).

 

 

“Today’s results continue to demonstrate the broad widths and very high nickel-PGE tenure of the Horizon 3 sulphide zone and expand the discovery to depth where it remains open,” said Darin Wagner, President and CEO of Balmoral. “Results from an additional 8 holes are expected before year end and we look forward to an exciting year ahead as we continue the delineation of the Horizon 3 discovery and begin the process of evaluating the balance of the Grasset Ultramafic Complex (‘GUC’) for additional zones of nickel-copper-PGE mineralization.”

 

                         

Hole

North

West

Azim

Dip

From

To

Interval*

Ni

Cu

Pt

Pd

Horizon

Number

 

(m)

(m)

(m)

(%)

(%)

g/t

g/t

 

GR-14-49

2+10 S

4+50E

50

-59

229.50

250.89

21.39

0.40

0.03

0.07

0.18

?

including

245.80

250.89

5.09

0.64

0.06

0.14

0.34

268.50

373.50

105.00

0.48

0.04

0.08

0.19

3

including

313.50

351.00

37.50

0.68

0.07

0.12

0.30

which includes

340.00

343.00

3.00

1.20

0.14

0.31

0.57

547.78

575.74

27.96

0.34

0.03

Pending

1

GR-14-50

2+10 S

4+50 E

50

-55

202.85

256.11

53.26

0.31

0.02

Pending

?

267.90

355.64

87.74

0.61

0.08

Pending

3

including

       

274.79

303.58

28.79

0.75

0.12

0.15

0.36

Which includes

       

279.34

283.50

4.16

1.12

0.45

0.21

0.55

and

       

327.20

329.52

2.32

1.21

0.38

0.20

0.55

GR-14-51

2+90 S

4+60 E

59

-52

295.98

375.13

79.15

0.68

0.06

Pending

3

including

314.09

348.60

34.51

1.19

0.12

0.24

0.50

which includes

314.09

331.00

16.91

1.78

0.17

0.37

0.80

which includes

315.04

318.24

3.20

4.09

0.32

0.82

1.40

GR-14-52

2+90 S

4+60 E

56

-58

319.15

389.23

70.08

0.51

0.04

0.08

0.21

3

including

   

 

349.06

375.18

26.12

0.77

0.08

0.11

0.42

   

 

401.51

432.57

31.06

0.48

0.04

Pending

including

   

 

407.48

414.92

7.44

0.84

0.08

0.15

0.36

GR-14-53

2+30 S

3+00 E

49

-51

Drill Hole Lost in Hanging Wall Rocks

GR-14-54

2+30 S

3+00 E

36

-52

303.91

354.83

50.92

1.07

0.10

0.28

0.68

3

including

 

315.38

342.80

27.42

1.38

0.14

0.36

0.90

which includes

 

330.61

342.80

12.19

2.31

0.24

0.63

1.60

and

 

330.61

334.43

3.82

4.01

0.37

1.04

2.79

and incl.

 

348.79

354.83

6.04

1.71

0.15

0.47

1.16

 

424.05

426.50

2.45

0.64

0.09

0.12

0.27

GR-14-55

1+80 S

2+60 E

47

-56

No Significant Results

GR-14-56

2+40 S

3+00 E

55

-56

398.00

403.44

5.44

1.92

0.25

0.51

1.19

3?

including

402.05

402.90

0.85

10.58

1.23

2.49

6.41

GR-14-57

3+70 S

5+00 E

56

-58

360.22

439.62

79.40

1.43

0.16

0.30

0.74

3

including

380.82

438.70

57.88

1.85

0.21

0.40

0.97

which includes

380.82

401.45

20.63

3.47

0.40

0.79

1.92

which includes

381.32

382.83

1.51

14.96

0.74

3.03

5.61

GR-14-58

2+40 S

3+00 E

54

-62

416.56

432.13

15.57

0.54

0.06

0.11

0.27

3

GR-14-59

3+80 S

5+20 E

56

-60

391.92#

436.87

44.95

0.67

0.06

Pending

3

including

391.92

418.65

26.73

0.88

0.09

0.16

0.40

which includes

398.61

414.00

15.39

1.00

0.10

0.19

0.48

GR-14-60

1+10 S

3+30 E

54

-53

121.57

194.48

72.91

0.89

0.10

0.18

0.45

3

including

140.40

174.20

33.80

1.44

0.17

0.31

0.80

which includes

146.79

157.46

10.67

1.96

0.23

0.42

1.13

                         

* All intercepts reported are down hole lengths, not true thicknesses. Insufficient drilling has been completed to date to define the orientation of the mineralized zone in space
#
Upper portion of mineralized zone terminated by Porphyry Fault

 

 

Reported drill intercepts have now traced the Horizon 3 discovery to a vertical depth of 350 metres and for a similar distance along strike. The upper portion of the Horizon 3 sulphide zone in Hole GR-14-59 was terminated/removed by the Porphyry Fault. This hole confirms a southerly dip to the fault, as indicated on Figure 2, with the fault block hosting the bulk of the intercepts to date broadening at depth. Hole GR-14-55 may have intersected a fault, which is currently interpreted to terminate the lower contact of the mineralized intervals in holes GR-14-22 and -23 located to the northwest. Additional drilling will be required to evaluate this interpretation and the orientation and offset on this feature.

 

 

Hanging Wall Gold Mineralization

 

 

Drilling continues to intersect a number of intervals of anomalous to locally high-grade gold mineralization, developed in sheared and strongly altered volcanic rock in the hanging wall to, or within the uppermost portion of, the Grasset Ultramafic Complex (“GUC”) (see Table 2 below). Gold mineralization occurs in quartz+/-carbonate veins within a sequence of sericite-carbonate-fuchsite-silica altered mafic and felsic volcanic rocks immediately in the hanging wall to the GUC or in isolated quartz-carbonate-talc veins cutting the GUC. Results from the holes released include an intercept grading 14.12 g/t gold over 1.90 metres in drill hole GR-14-58. Similar high-grade gold mineralization occurs at the Company’s Fenelon gold zone located 6 kilometres to the west of the area currently being tested. The gold mineralization at Fenelon is also associated with quartz-carbonate veins hosted by, or proximal to, an ultramafic sill interpreted as part of the GUC.

 

 

Table 2: Hanging Wall Gold Intercepts

 

             

Hole

North

West

From

To

Interval*

Gold

Number

(Metres)

(Metres)

(Metres)

g/t

GR-14-51

2+90 S

4+60 E

136.00

141.03

5.03

0.31

GR-14-52

2+90 S

4+60 E

105.45

106.63

1.18

3.86

GR-14-54

2+30 S

3+00 E

152.53

163.85

11.32

0.28

GR-14-56

2+40 S

3+00 E

235.60

236.67

1.07

1.91

GR-14-58

2+40 S

3+00 E

276.64

277.40

0.76

2.21

     

291.64

293.54

1.90

14.12

GR-14-59

3+80 S

5+20 E

257.19

260.08

2.89

2.23

             

* All intercepts reported are down hole lengths, not true thicknesses. Insufficient drilling has been completed to date to define the orientation of the mineralized zone in space

 

 

Drilling will resume at Grasset in early 2015 with a goal of further delineating the Horizon 3 discovery and testing a number of promising targets elsewhere in the GUC. The Company will provide additional details on its recently completed low-level Mag/EM survey over the entirety of the GUC and surrounding areas as results and interpretations are completed.

 

 

About Balmoral Resources Ltd.

 

Balmoral is a Canadian-based discovery company focused on high-grade gold and nickel 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 gold and base metal assets.

 

Posted November 26, 2014

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