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Message: BAR Intersects 19.55 G/t Gold/44.45 Metres, Bug Lake Gold Trend, Martiniere
RETRANSMISSION -Balmoral Intersects 19.55 G/t Gold Over 44.45 Metres, Bug Lake Gold Trend, Martiniere Property, Quebec8:06AM ET on Monday Apr 20, 2015 by Marketwire
Balmoral Resources Ltd. ("Balmoral" or the "Company") (TSX: BAR) (OTCQX: BALMF) today reported results for the first 9 holes from recently completed winter 2015 drill program on the Company's wholly owned 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 Balmoral's Grasset Ni-Cu-PGE discovery.
Results were highlighted by intercepts of 19.55 g/t gold over 44.45 metres, including 34.84 g/t gold over 24.14 metres in hole MDE-15-166, one of the strongest intercepts to date from the Footwall Zone, and 4.28 g/t gold over 53.78 metres from the combined Lower Bug Lake and Footwall Zones in hole MDE-15-73, including 7.01 g/t gold over 22.48 metres through the Footwall Zone.
Drilling focused on infill and expansion of the known gold zones across a 225 long x 150 metre deep section of the 1,200 metre long x 400 metre deep, open ended Bug Lake Gold Trend. Today's results continue to demonstrate the continuity of high-grade gold mineralization within the numerous zones located along the north-south oriented Bug Lake Gold Trend, and in particular the very high-grade nature of the Footwall and Hanging Wall Zones (see Figures 1, 2 and 3).
"We are pleased to see our initial winter assays meet, or in several cases exceed, results from our previous work in this portion of the Bug Lake Gold Trend and pleasantly surprised with the identification of high-grade base metal sulphides potentially associated with the Martiniere East VMS system" said Darin Wagner, President and CEO of Balmoral Resources.
Table 1 - Bug Lake Gold Trend
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Hole Northing Easting Dip From
Number (Degrees) (Metres)
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MDE-15-166 1+00N 2+80W -60 58.62
including 59.96
96.26
104.15
118.78
including 134.80
which includes 134.80
including 136.44
and 147.87
191.61
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MDE-15-167 0+00N 2+10W -58 64.24
including 65.64
and 72.97
138.26
150.31
including 164.64
and 183.17
and 191.63
which includes 194.80
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MDE-15-168 0+00N 2+10W -63 71.60
138.51
including 138.51
167.50
including 176.64
which includes 182.29
194.15
including 199.37
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MDE-15-169 1+25N 2+90W -51 33.09*
including 39.02
78.45
98.10
142.41
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MDE-15-170 1+25N 2+90W -59 31.22
including 32.56
which includes 31.22
and including 50.45
61.36
105.48
including 111.63
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MDE-15-171 1+50N 2+20W -47 69.43
130.40
including 137.19
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MDE-15-172 2+25N 2+80W -46 35.12
including 40.77
64.55
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MDE-15-173 1+00N 2+30W -54 59.58
87.77
including 87.77
and 108.14
and 119.07
which includes 123.66
and 138.45
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MDE-15-174A 1+00N 2+30W -64 35.19
68.40
including 71.25
124.44
133.62
including 140.26
149.21
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Hole To Interval* Gold Zone
Number (Metres) (Metres) (g/t)
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MDE-15-166 62.13 3.51 8.49 U Bug Lake
including 60.36 0.40 55.30 "
96.81 0.55 15.10 Footwall A
107.14 2.99 6.03 Footwall B
163.23 44.45 19.55 Footwall
including 158.94 24.14 34.84 "
which includes 141.91 7.11 75.64 "
including 137.75 1.31 158.56 "
and 157.18 9.31 30.45 "
192.25 0.64 5.65 Footwall 2
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MDE-15-167 73.81 9.57 3.91 HW
including 66.37 0.73 16.55 "
and 73.81 0.84 14.75 "
139.22 0.96 6.64 ?
197.15 46.84 1.39 L Bug Lk + FW
including 166.21 1.57 12.05 L Bug Lake
and 183.58 0.41 18.15 Footwall A
and 196.39 4.76 2.82 Footwall
which includes 195.38 0.58 9.02 "
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MDE-15-168 72.50 0.90 32.80 HW
156.57 18.06 0.73 U Bug Lake
including 139.38 0.87 3.08 "
187.58 20.08 2.21 L Bug Lake
including 187.58 10.94 3.93 "
which includes 187.58 5.29 6.33 "
222.00 27.85 4.58 FW
including 210.36 10.99 11.17 "
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MDE-15-169 42.56 9.47 2.07 U Bug Lake
including 39.74 0.72 14.75 "
79.53 1.08 3.05 FWA
98.77 0.67 24.80 FW
143.3 0.89 6.19 FW2
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MDE-15-170 51.23 20.01 3.61 U Bug Lake
including 33.20 0.64 69.70 "
which includes 40.16 8.94 6.55 "
and including 51.23 0.78 8.87 "
65.00 3.64 2.47 L Bug Lake
116.41 10.93 23.02 FW
including 115.65 4.02 43.40 "
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MDE-15-171 70.12 0.69 90.40 HW
146.98 16.58 1.03 L Bug Lake
including 137.59 0.40 5.11 "
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MDE-15-172 49.79 14.67 1.73 U Bug Lake
including 46.59 5.82 3.24 VMS
80.31 15.76 0.52 L Bug Lake
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MDE-15-173 60.33 0.75 8.63 HW
141.55 53.78 4.28 L Bug Lk + FW
including 97.57 9.80 5.54 L Bug Lake
and 113.96 5.82 2.53 "
and 141.55 22.48 7.01 FWA + FW
which includes 125.20 1.54 12.41 FWA
and 141.55 3.10 39.42 FW
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MDE-15-174A 35.75 0.56 53.00 ?
72.87 4.47 9.14 HW
including 72.00 0.75 40.80 "
125.52 1.08 13.01 ?
169.00 35.38 0.73 L Bug Lake
including 140.70 0.44 4.04 "
149.90 0.69 3.08 "
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* 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.
** Collared into mineralized zone
U Bug Lake = Upper Bug Lake; L Bug Lake = Lower Bug Lake; FW = Footwall, HW = Hanging Wall; ? = Unassigned, vein style mineralization
Copper-Zinc-Silver-Gold Intercept
Drilling also intersected a 2.10 metre interval of high-grade copper-zinc-silver-gold mineralization which, while incorporated into the later Bug Lake mineralized system, is interpreted to be associated with the adjacent Martiniere East VMS system. Hole MDE-15-172 intersected 2.10 metres grading 1.52% Cu, 4.20% Zn, 29.44 g/t Ag and 2.79 g/t Au from a semi-massive sulphide interval incorporated into a brecciated phase of the Upper Bug Lake Gold Zone. The metal suite and associated trace elements are atypical of the Bug Lake Gold Trend and of clear VMS affinity. They would represent by far the strongest base metal results to date from the Martiniere East area. Today's intercept provides a positive indication that the Martiniere East VMS system, and by inference VMS systems within the broader Detour Trend land package which have not been a primary focus of exploration targeting, are capable of producing base metal grades of economic interest similar to those observed in the nearby Selbaie and Mattagami camps.
Table 2 - Base Metal Intercept MDE-15-172
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Hole From To Interval* Copper Zinc Silver Gold
Number (Metres) (Metres) (Metres) % % g/t g/t
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MDE-15-172 40.23 42.33 2.10 1.52 4.20 29.44 2.79
including 40.77 41.74 0.97 2.65 5.93 50.88 5.25
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* 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.
Results from an additional 21 holes completed during the winter program remain pending. Additional infill and expansion drilling 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.
Quality Control
Mr. Darin Wagner (P.Geo.), President and CEO of the Company, is the non-independent qualified person for the technical disclosure contained in this news release. Mr. Wagner has supervised the work programs on the Martiniere Property, visited the property on multiple occasions, examined the drill core and/or photographs from the holes summarized in this release, discussed, reviewed the results with senior on-site geological staff and reviewed the available analytical and quality control results.
Balmoral has implemented a quality control program for all of its drill programs, to ensure best practice in the sampling and analysis of the drill core, which includes the insertion of blind blanks, duplicates and certified standards into sample stream. NQ sized drill core is saw cut with half of the drill core sampled at intervals based on geological criteria including lithology, visual mineralization and alteration. The remaining half of the core is stored on-site at the Company's Martiniere field camp in Central Quebec. Drill core samples are transported in sealed bags to ALS Minerals' Val d'Or, Quebec analytical facilities. Gold analyses are obtained via industry standard fire assay with atomic absorption finish using 30 g aliquots. For samples returning greater than 5.00 g/t gold follow-up fire assay analysis with a gravimetric finish is completed. The Company has also requested that any samples returning greater than 10.00 g/t gold undergo screen metallic fire assay. Following receipt of assays, visual analysis of mineralized intercepts is conducted and additional analysis may be requested. ALS Minerals is ISO 9001:2008 certified and the Val d'Or facilities are ISO 17025 certified for gold analysis.
About Balmoral Resources Ltd. - www.balmoralresources.com
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.
On behalf of the board of directors of
BALMORAL RESOURCES LTD.
"Darin Wagner"
President and CEO
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