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Balmoral Intersects 78.15 Metres Grading 1.65 g/t Gold, Including 17.00 Metres Grading 4.50 g/t Gold, as Bug South Deposit Continues to Expand, Martiniere Property, Quebec

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Balmoral Intersects 78.15 Metres Grading 1.65 g/t Gold, Including 17.00 Metres Grading 4.50 g/t Gold, as Bug South Deposit Continues to Expand, Martiniere Property, Quebec

 

 

 

 

 

Balmoral Resources Ltd. (TSX:BAR)  (OTCQX:BALMF) today reported the continued intersection of broad zones of gold mineralization from expansion drilling on the Company’s Bug South Gold Deposit in Quebec. Four of the five holes returned gold mineralized down hole intervals ranging in width from 29.53 to 78.15 metres, with average grades ranging between 1.58 and 2.16 g/t gold for these broad intervals. These results are from the Upper Bug Zone, one of several gold mineralized zones contained within the Bug South Deposit. Each of these intervals features higher grade sub-zones with highlights including 17.00 metres grading 4.50 g/t gold, 9.89 metres grading 4.50 g/t gold and 9.08 metres grading 7.10 g/t gold (See Table below; Figures 1, 2, 3, 4 and 5).

 

 

Today’s results continue to support a significant, south-plunging, broadening of the Bug South — Upper Bug Zone in the near surface with the deepest of the holes, MDE-16-234A, intersecting the Zone at approximately 200 metres vertically below surface. This hole returned the highest average gold grade for the Upper Bug Zone. These results are the first from a series of holes drilled to expand the Bug South Deposit following the identification of a rapid broadening of the deposit in the near surface (see NR16-19; September 7, 2016).

 

 

Drilling also intersected high-grade gold mineralization in the Footwall (6.75 metres grading 11.29 g/t gold including 1.08 metres at 64.20 g/t gold), Hanging Wall (3.40 metres grading 5.01 g/t gold, including 0.58 metres grading 22.50 g/t gold) and Lower Bug (9.30 metres grading 3.08 g/t gold including 0.74 metres grading 8.48 g/t gold) Zones. All zones remain open at shallow depths for further expansion.

 

 

“Today’s results continue to confirm the significance and potential of the Bug South Deposit and further demonstrate the upside of the Bug Lake Gold Trend,” said Darin Wagner, President and CEO of Balmoral. “Bug South is showing very good continuity and we look forward to providing additional drill results to our shareholders from this deposit, and as well as from the Bug North Deposit and its extensions, over the next several weeks.”

 

 

Results from forty two drill holes remain pending. Drilling has been suspended until the first quarter of 2017 following completion of the winter road to the Martiniere Property. Sampling of holes completed during the fall program remains ongoing.

 

 

                                 
Hole  

Northing

 

Easting

 

Dip

 

From

 

To

 

Interval*

 

Gold

 

Zone

Number  

 

 

(Degrees)

 

(Metres)

 

(Metres)

 

(Metres)

 

(g/t)

 

MDE-16-233A  

2+50S

 

1+90W

 

-54

 

111.82

 

116.60

 

4.78

 

0.13

 

HWP

   

 

 

 

182.90

 

183.50

 

0.60

 

3.34

 

   

 

 

 

193.15

 

256.59

 

63.44

 

1.58

 

Upper Bug

including  

 

 

 

195.38

 

196.00

 

0.62

 

11.20

 

and  

 

 

 

232.03

 

241.92

 

9.89

 

4.50

 

which includes  

 

 

 

239.26

 

240.22

 

0.96

 

23.20

 

and  

 

 

 

246.21

 

247.12

 

0.91

 

5.15

 

and  

 

 

 

253.52

 

256.59

 

3.07

 

5.80

 

   

 

 

 

286.48

 

293.75

 

7.27

 

1.29

 

Lower Bug

MDE-16-234A  

2+75S

 

1+35W

 

-45.7

 

168.67

 

173.6

 

4.93

 

0.73

 

HWP

   

 

 

 

213.05

 

214.26

 

1.21

 

5.32

 

Hanging Wall

including  

 

 

 

213.91

 

214.26

 

0.35

 

9.43

 

   

 

 

 

222.82

 

224.26

 

1.44

 

3.17

 

   

 

 

 

272.23

 

307.39

 

35.16

 

2.16

 

Upper Bug

including  

 

 

 

289.15

 

290.65

 

1.50

 

5.53

 

and  

 

 

 

298.31

 

307.39

 

9.08

 

7.10

 

which includes  

 

 

 

304.29

 

307.39

 

3.10

 

18.80

 

   

 

 

 

317.81

 

322.00

 

4.19

 

0.29

 

Lower Bug

   

 

 

 

368.82

 

375.57

 

6.75

 

11.29

 

Footwall

including  

 

 

 

368.82

 

369.90

 

1.08

 

64.20

 

MDE-16-240  

1+95S

 

1+80W

 

-51

 

65.02

 

70.30

 

5.28

 

1.11

 

HWP

including  

 

 

 

69.39

 

70.30

 

0.91

 

5.61

 

   

 

 

 

129.92

 

146.03

 

16.11

 

0.58

 

Hanging Wall

   

 

 

 

163.84

 

197.00

 

33.16

 

0.38

 

Upper?

   

 

 

 

224.87

 

263.22

 

38.35

 

0.35

 

Upper Bug

   

 

 

 

307.19

 

315.50

 

8.31

 

0.29

 

Lower Bug

MDE-16-242  

2+15S

 

1+95W

 

-51

 

162.20

 

240.37

 

78.17

 

1.65

 

Upper Bug

including  

 

 

 

163.84

 

170.47

 

6.63

 

2.20

 

and  

 

 

 

220.00

 

237.00

 

17.00

 

4.50

 

which includes  

 

 

 

234.50

 

237.00

 

2.50

 

16.34

 

   

 

 

 

285.76

 

287.04

 

1.28

 

4.39

 

Footwall

MDE-16-243  

1+75S

 

2+05W

 

-51

 

95.20

 

104.03

 

8.83

 

2.13

 

Hanging Wall

including  

 

 

 

98.00

 

101.40

 

3.40

 

5.01

 

which includes  

 

 

 

98.00

 

98.58

 

0.58

 

22.50

 

   

 

 

 

113.15

 

114.70

 

1.55

 

2.86

 

   

 

 

 

173.47

 

186.00

 

12.53

 

0.57

 

Upper?

   

 

 

 

195.67

 

224.90

 

29.23

 

1.61

 

Upper Bug

including  

 

 

 

210.15

 

211.09

 

0.94

 

4.91

 

and  

 

 

 

219.42

 

223.55

 

4.13

 

4.81

 

   

 

 

 

246.04

 

261.16

 

15.12

 

1.96

 

Lower Bug

including  

 

 

 

246.04

 

255.34

 

9.30

 

3.08

 

which includes  

 

 

 

254.60

 

255.34

 

0.74

 

8.48

 

                                 

* 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 although they are estimated to range between approximately 70 and 77% of true thickness. All values presented uncapped.

 

 

About Balmoral Resources Ltd.

 

 

Balmoral is a well-funded, Canadian-based company actively delineating and expanding multiple targets along the Bug Lake Gold Trend on its wholly owned, 700 square kilometre Detour Trend Project in Quebec, Canada. The Project also hosts Balmoral’s Grasset Ni-Cu-Co-PGE deposit and numerous additional base metal occurrences. Employing an aggressive, drill focused exploration style in one of the world’s pre-eminent geological and mining jurisdictions, 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 December 12, 2016

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