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Balmoral Intersects 9.30 g/t Gold Over 15.75 Metres, Bug Lake Gold Trend, Martiniere Property, Quebec

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Balmoral Intersects 9.30 g/t Gold Over 15.75 Metres, Bug Lake Gold Trend, Martiniere Property, Quebec

 

 

 

 

 

Balmoral Resources Ltd. (TSX:BAR) (OTCQX:BALMF) today reported results for 11 holes from the recently completed winter 2015 drill program on the Company’s wholly owned Martiniere Property. Results were highlighted by intercepts of 9.30 g/t gold over 15.75 metres, including 18.11 g/t gold over 7.51 metres, from the Footwall Zone in hole MDE-15-175A (See Figures 1 and 2).

 

 

Hole MDE-15-175A intersected the Footwall Zone approximately 12 metres below MDE-15-166, which returned an intercept 19.55 g/t gold over 44.45 metres, including 34.84 g/t gold over 24.14 metres (see NR15-05, Apr. 20, 2015). Results suggest a possible local fault repeat of the Footwall Zone in the vicinity of hole MDE-15-166. Today’s results continue to demonstrate the very high grade nature of the Footwall Zone beneath this local fault offset and expand the footprint of the Footwall Zone down-plunge from MDE-15-166.

 

 

“The winter 2015 program has thus far allowed us to expand and better constrain the multiple gold mineralized zones that are contained within the Bug Lake Trend,” said Darin Wagner, President and CEO of Balmoral. “The shallow and very high-grade nature of the Footwall Zone within the upper steep section of the Bug Lake Trend makes it an obvious initial focus. However we are also pleased to see the continuation of broad zones of gold mineralization through the ‘flatter’ northern section of the Bug Lake Trend which bodes well for the continuation of gold mineralization to depth along the second steep.”

 

 

Bug Lake Gold Trend

 

                                 

Hole

 

Northing

 

Easting

 

Dip

 

From

 

To

 

Interval*

 

Gold

 

Zone

Number

 

 

 

 

(Metres)

 

(Metres)

 

(Metres)

 

(g/t)

 

MDE-15-174

 

1+00 N

 

2+30 W

 

-64

 

Terminated at Bedrock Interface

MDE-15-175

 

1+00N

 

2+30 W

 

-50

 

Terminated at Bedrock Interface

MDE-15-175A

 

1+00N

 

2+30 W

 

-52

 

53.56

 

55.97

 

2.41

 

3.37

 

HW2

 

 

 

 

60.75

 

72.38

 

11.63

 

0.53

 

HW

 

 

 

 

86.53

 

93.32

 

6.79

 

9.71

 

U Bug Lake

including

 

 

 

 

87.99

 

90.32

 

2.33

 

27.86

 

 

 

 

 

103.28

 

134.87

 

31.59

 

0.88

 

L Bug Lake

including

 

 

 

 

103.28

 

107.10

 

3.82

 

2.93

 

 

 

 

 

171.99

 

187.74

 

15.75

 

9.30

 

Footwall

including

 

 

 

 

171.99

 

179.50

 

7.51

 

18.11

 

which includes

 

 

 

 

176.81

 

178.97

 

2.16

 

56.45

 

which includes

 

 

 

 

178.50

 

178.97

 

0.47

 

210.00

 

MDE-15-176

 

2+00 N

 

4+00 W

 

-45

 

55.08

 

154.38

 

99.30

 

0.63

 

L Bug Lk+FW

including

 

 

 

 

84.06

 

85.11

 

1.05

 

3.15

 

FW B

and

 

 

 

 

92.68

 

93.35

 

0.67

 

8.03

 

FW B

and

 

 

 

 

139.25

 

140.05

 

0.80

 

4.71

 

L Bug Lk

MDE-15-177

 

1+75 N

 

3+75 W

 

-45

 

48.20

 

89.00

 

40.80

 

0.73

 

L Bug Lake

including

 

 

 

 

77.00

 

78.00

 

1.00

 

4.24

 

 

 

 

 

115.00

 

152.00

 

37.00

 

0.51

 

U Bug Lake

MDE-15-178

 

1+75 N

 

3+75 W

 

-56

 

51.50

 

119.50

 

68.00

 

0.96

 

L Bug Lk+FW

including

 

 

 

 

53.29

 

53.67

 

0.38

 

8.82

 

FW B

and

 

 

 

 

106.00

 

108.07

 

2.07

 

3.80

 

L Bug Lake

MDE-15-179

 

1+50 N

 

2+05 W

 

-47

 

80.58

 

84.22

 

3.64

 

3.31

 

HW

including

 

 

 

 

81.47

 

82.30

 

0.83

 

10.35

 

 

 

 

 

148.90

 

176.00

 

27.10

 

0.69

 

L Bug Lake

including

 

 

 

 

155.18

 

155.95

 

0.77

 

3.04

 

MDE-15-180

 

2+10 N

 

3+80 W

 

-45

 

22.10

 

90.80

 

68.70

 

0.68

 

L Bug Lk+FW

including

 

 

 

 

33.43

 

34.25

 

0.82

 

9.06

 

FW B

and

 

 

 

 

83.00

 

83.55

 

0.55

 

9.77

 

L Bug Lake

and

 

 

 

 

87.40

 

88.00

 

0.60

 

4.93

 

MDE-15-181

 

2+10 N

 

3+80 W

 

-53

 

26.04

 

91.75

 

65.71

 

0.41

 

L Bug Lk+FW

MDE-15-182

 

2+35 N

 

3+00 W

 

-45

 

52.96

 

81.00

 

28.04

 

0.24

 

L Bug Lake

MDE-15-183

 

2+50 N

 

3+10 W

 

-45

 

28.00

 

63.88

 

35.88

 

0.36

 

L Bug Lake

including

 

 

 

 

33.87

 

36.30

 

2.43

 

2.49

 

                                 

* 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; FW = Footwall, HW = Hanging Wall; ? = Unassigned, vein style mineralization

 

 

The Bug Lake Trend is a 1,200 metre long by 60 to 120 metre wide, roughly north-south fault striking corridor. This fault corridor hosts a number of sub-parallel, steeply dipping and moderately south-plunging gold zones which have been intersected to vertical depths of approximately 400 metres and which remain open. These include the very high-grade Footwall Zone, the Upper and Lower Bug Lake Zones and the Hanging Wall Zone. The Bug Lake Trend cross-cuts local, north-northeast striking moderately south-dipping volcanic stratigraphy (host to the Martiniere East VMS occurrence) at a high angle (75 to 85 degrees).

 

 

The Bug Lake Trend is sub-divided into a northern and a southern segment roughly half way through its known strike length by a late, northwest directed fault which offsets the trend by approximately 75 metres (See Figure 1). The northern segment of the Bug Lake Trend currently being tested, exhibits open “S” type geometry. Near surface, over the southern half of the “northern segment”, the fault system exhibits near vertical geometry with south-plunging gold zones developed within vertically dipping structural zones. At depths of 150 to 250 vertical metres the fault zone begins to flatten to a shallower (20-45 degree) dip, before again steepening to near vertical or overturned. This flat section also exhibits a southern plunge coming to surface in the northern portion of the area currently being tested (holes MDE-15-180 to -183; See Figure 3). The “flats” are typically characterized by broad zones of gold mineralization but weaker development of the higher grade structural zones which characterize the “steeps”.

 

 

Results from an additional 9 holes completed during the winter program remain pending. Additional testing along the Bug Lake Gold Trend will resume in the second or third quarter of 2015, as will testing of additional gold and VMS targets throughout the Martiniere Property. The Martiniere Property forms part of the Company’s 700+ square kilometre Detour Trend Project and is located approximately 40 km west of the Company’s Grasset Ni-Cu-PGE discovery.

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 May 13, 2015

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