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Balmoral Reports 23.73 g/t Gold Over 9.00 Metres (Including 139.00 g/t Gold Over 1.20 Metres) From Drilling on Northshore Property, Ontario

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Balmoral Reports 23.73 g/t Gold Over 9.00 Metres (Including 139.00 g/t Gold Over 1.20 Metres) From Drilling on Northshore Property, Ontario

 

 

 

 

 

Balmoral Resources Ltd. (TSX:BAR)  (OTCQX:BALMF) has received, from joint venture partner GTA Resources and Mining Inc. (TSX-V:GTA), the results from 36 shallow (surface to approximately 30 metres vertical depth) drill holes recently completed on the Northshore Property located near Schreiber, Ontario.

 

 

Drilling focused on delineation of the high-grade Audney and Caly vein systems which outcrop at surface and are located within the central core of the broader Afric Gold Zone (see Figure 1). Drilling continues to intersect very high grade ( > 1 oz/ton), near surface, gold mineralization (including 139.00 g/t gold over 1.20 metres, 72.40 g/t gold over 1.0 metre and 39.3 g/t gold over 1.50 metres – see table below) along both the Audney (D – series holes) and Caly (A – series holes) vein systems. Additional highlights of the program, more fully detailed in Tables 1 and 2 below, include:

 

  • 4.06 g/t gold over 23.00 metres, including 25.60 g/t gold over 3.0 metres in hole A-16-12
  • 5.67 g/t gold over 10.40 metres, including 33.70 g/t gold over 1.40 metres in hole A-16-08
  • 5.96 g/t gold over 9.0 metres, including 24.14 g/t gold over 2.00 metres in hole D-16-07
  • 7.29 g/t gold over 5.40 metres, including 18.54 g/t gold over 2.00 metres in hole D-16-08

 

 

“We are pleased to see the current drill program further delineating the near surface potential at Northshore and appearing to outline local continuity to the high-grade vein systems located at the core of the broader Afric Gold Zone,” said Darin Wagner, President and CEO of Balmoral Resources.

 

Table 1: A-Series holes targeting the Caly system

 

Hole

 

Azimuth

 

Dip

 

From

 

To

 

Interval*

 

Gold**

Number

 

 

 

(metres)

 

(metres)

 

(metres)

 

(g/t)

A-16-01

 

315

 

-45

 

5.00

 

26.00

 

21.00

 

2.79

including

 

 

 

5.00

 

12.50

 

7.50

 

5.16

A-16-02

 

315

 

-80

 

17.00

 

30.50

 

13.50

 

2.55

including

 

 

 

20.00

 

26.00

 

6.00

 

5.22

which incl.

 

 

 

20.00

 

21.00

 

1.00

 

25.70

A-16-03

 

315

 

-45

 

9.50

 

11.00

 

1.50

 

1.69

A-16-04

 

315

 

-80

 

26.00

 

32.00

 

6.00

 

0.93

A-16-05

 

315

 

-45

 

4.00

 

24.50

 

20.50

 

2.36

including

 

 

 

15.50

 

24.50

 

9.00

 

3.61

A-16-06

 

315

 

-80

 

3.50

 

18.50

 

15.00

 

1.15

including

 

 

 

12.50

 

18.50

 

6.00

 

1.92

A-16-07

 

315

 

-45

 

8.00

 

24.50

 

16.50

 

0.71

A-16-08

 

315

 

-80

 

0.60

 

5.00

 

4.40

 

12.81

including

 

 

 

0.60

 

2.00

 

1.40

 

33.70

A-16-09

 

315

 

-45

 

24.50

 

32.00

 

7.50

 

1.25

including

 

 

 

29.00

 

30.50

 

1.50

 

5.19

A-16-10

 

315

 

-80

 

3.50

 

6.50

 

3.00

 

2.11

A-16-11

 

315

 

-45

 

2.60

 

8.00

 

5.40

 

0.24

A-16-12

 

315

 

-45

 

3.00

 

26.00

 

23.00

 

4.06

including

 

 

 

3.00

 

17.00

 

14.00

 

0.91

and

 

 

 

17.00

 

20.00

 

3.00

 

25.60

and

 

 

 

20.00

 

26.00

 

6.00

 

0.66

A-16-13

 

315

 

-80

 

6.50

 

21.50

 

15.00

 

1.10

including

 

 

 

11.00

 

14.00

 

3.00

 

2.79

A-16-14

 

315

 

-45

 

4.00

 

26.00

 

22.00

 

0.23

A-16-15

 

315

 

-45

 

8.00

 

26.70

 

18.70

 

2.03

including

 

 

 

8.00

 

11.00

 

3.00

 

8.56

A-16-16

 

315

 

-45

 

5.00

 

30.50

 

25.50

 

1.43

including

 

 

 

11.60

 

18.00

 

6.40

 

2.33

A-16-17

 

315

 

-45

 

12.50

 

26.00

 

13.50

 

1.94

including

 

 

 

14.00

 

22.00

 

8.00

 

2.42

 

 

Table 2: D Series Holes targeting the Audney System

 

Hole

 

Azimuth

 

Dip

 

From

 

To

 

Interval*

 

Gold**

Number

 

 

 

(Metres)

 

(Metres)

 

(Metres)

 

(g/t)

D-16-01

 

315

 

-45

 

re-drilled as D-16-1A

D-16-02

 

315

 

-60

 

re-drilled as D-16-2A

D-16-03

 

315

 

-45

 

8.00

 

10.00

 

2.00

 

3.87

D-16-04

 

315

 

-60

 

13.00

 

14.00

 

1.00

 

5.58

D-16-05

 

315

 

-45

 

8.00

 

9.50

 

1.50

 

1.68

D-16-06

 

315

 

-60

 

10.00

 

18.20

 

8.20

 

3.54

including

 

 

 

10.00

 

12.00

 

2.00

 

9.40

D-16-07

 

315

 

-45

 

2.90

 

17.00

 

14.10

 

3.94

including

 

 

 

2.90

 

8.00

 

5.10

 

0.39

and

 

 

 

8.00

 

17.00

 

9.00

 

5.96

including

 

 

 

11.70

 

13.70

 

2.00

 

24.14

and

 

 

 

13.70

 

17.00

 

3.30

 

0.59

D-16-08

 

315

 

-60

 

14.00

 

19.40

 

5.40

 

7.29

including

 

 

 

17.40

 

19.40

 

2.00

 

18.54

D-16-09

 

315

 

-45

 

9.50

 

12.50

 

3.00

 

4.25

D-16-10

 

315

 

-60

 

16.50

 

20.00

 

3.50

 

9.76

including

 

 

 

16.50

 

17.50

 

1.00

 

30.90

D-16-11

 

315

 

-45

 

8.00

 

11.00

 

3.00

 

25.32

including

 

 

 

10.00

 

11.00

 

1.00

 

72.40

D-16-12

 

315

 

-60

 

8.00

 

16.20

 

8.20

 

1.79

including

 

 

 

15.20

 

16.20

 

1.00

 

8.45

D-16-13

 

315

 

-45

 

7.50

 

9.50

 

2.00

 

4.41

D-16-14

 

315

 

-60

 

 

 

 

NSA

D-16-15

 

315

 

-45

 

 

 

 

NSA

D-16-16

 

315

 

-45

 

8.00

 

17.00

 

9.00

 

23.73

including

 

 

 

15.80

 

17.00

 

1.20

 

139.00

D-16-17

 

315

 

-60

 

 

 

 

NSA

D-16-1A

 

315

 

-45

 

11.00

 

12.00

 

1.00

 

1.62

D-16-2A

 

315

 

-60

 

9.50

 

17.50

 

8.00

 

3.14

including

 

 

incl.

 

14.50

 

15.50

 

1.00

 

21.40

 

Notes:   NSA – No significant assay results
    * Widths as shown are over drilled core length, and do not represent true widths which remain undefined at the current time.
    ** Gold values are presented uncapped
     

 

 

GTA, as operator of the Northshore Property, is currently evaluating the near surface potential of the Afric Gold Zone on the Northshore Property. The Company has been advised that GTA anticipates resuming the current drill program on the Property in early September and that it should be completed within one month of commencement. GTA has further advised that preliminary metallurgical work on two composited drill core samples, one from each of the Caly and Audney vein systems, is currently underway.

 

 

The Northshore Property is a joint venture between Balmoral and GTA. GTA is the current operator of the joint venture and holds a 51.4% interest in the Property. In addition to its 48.6% interest in the Northshore Property Balmoral currently holds approximately 7.65% of the issued and outstanding shares of GTA.

 

 

 

 

About Balmoral Resources Ltd.

 

 

Balmoral is a well-funded, Canadian-based company actively delineating and expanding the high-grade Bug Lake Gold Trend on its wholly owned, 700 square kilometre Detour Trend Project in Quebec, Canada. Employing an award winning exploration team, Balmoral has a philosophy of creating value through the drill bit. By focusing our efforts in proven productive precious/base metal belts in one of the world’s preeminent 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 August 22, 2016

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