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Balmoral Reports Phase Two Drill Results From Northshore Joint Venture, Ontario

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Balmoral Reports Phase Two Drill Results From Northshore Joint Venture, 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 15 shallow drill holes from the second and final phase of the summer 2016 drill program on the Northshore Property located near Schreiber, Ontario.

 

 

The Phase Two drilling program was designed to both expand in the near surface and more clearly define the outer margins of the Afric Gold Zone. It appears to have successfully extended the Zone in several areas. In addition drilling continues to intersect high-grade, commonly visible gold bearing quartz vein hosted mineralization within the core of the broader zone. The current phase of drilling returned near surface intercepts of 27.90 g/t gold and 25.80 g/t gold, each over 1.00 metre downhole intervals, in holes A-16-20 and A-16-29 respectively (see table below).

 

 

Two holes were drilled during this phase of the program to determine the continuity of the Gino Vein system, initially discovered in 2013. The Gino Vein system is located north of the Afric Gold Zone and proximal to the former producing North Shore gold mine. Both holes appear to have successfully intersected the Gino Vein, with an intercept of 6.13 g/t gold over 1.00 metre in G-16-02 indicating the system remains open to the east and down-dip.

 

 

 

 

 

 

Hole

 

 

From

 

To

 

Interval*

 

Gold**

 

 

(metres)

 

(metres)

 

(metres)

 

(g/t)

Afric Gold Zone

 

 

 

A-16-18

 

 

1.00

 

17.00

 

16.00

 

0.18

A-16-19

 

 

26.00

 

27.50

 

1.50

 

1.30

A-16-20

 

 

3.00

 

24.50

 

21.50

 

2.24

 

including

 

4.00

 

18.50

 

14.50

 

2.84

 

which includes

 

5.00

 

6.00

 

1.00

 

27.90

A-16-21

 

 

3.50

 

14.00

 

10.50

 

0.34

 

including

 

3.50

 

5.00

 

1.50

 

1.02

A-16-22

 

 

15.50

 

26.00

 

10.50

 

0.92

 

including

 

23.00

 

26.00

 

3.00

 

2.47

A-16-23

 

 

6.50

 

12.50

 

6.00

 

0.89

 

including

 

8.00

 

9.50

 

1.50

 

2.83

A-16-24

 

 

3.00

 

15.50

 

12.50

 

1.58

 

including

 

3.00

 

5.00

 

2.00

 

3.17

 

And

 

8.00

 

11.00

 

3.00

 

2.08

 

and

 

14.00

 

15.50

 

1.50

 

2.99

A-16-25

 

 

6.50

 

29.00

 

22.50

 

0.77

 

including

 

21.50

 

24.50

 

3.00

 

1.88

A-16-26

 

 

14.00

 

15.50

 

1.50

 

1.57

A-16-27

 

 

6.50

 

17.00

 

10.50

 

0.90

 

including

 

14.00

 

17.00

 

3.00

 

1.56

A-16-28

 

 

12.50

 

17.00

 

4.50

 

1.23

A-16-29

 

 

2.50

 

18.50

 

16.00

 

2.82

 

including

 

2.50

 

3.50

 

1.00

 

25.80

D-16-18

 

 

6.00

 

15.00

 

9.00

 

0.21

Gino Vein System

 

 

 

G-16-01

 

 

53.00

 

54.00

 

1.00

 

0.81

G-16-02

 

 

14.00

 

15.50

 

1.50

 

1.16

 

 

31.00

 

32.00

 

1.00

 

1.97

 

 

50.00

 

53.00

 

3.00

 

0.77

 

 

63.50

 

65.00

 

1.50

 

1.14

 

 

138.50

 

139.50

 

1.00

 

6.13

Notes:
* 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

 

 

The Northshore Property is a joint venture between Balmoral and GTA. GTA is the current operator of the joint venture and, prior to the summer 2016 program, held a 51.4% interest in the Property. In addition to its 48.6% interest in the Northshore Property Balmoral currently holds a share position in GTA for investment purposes.

 

 

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 November 4, 2016

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