VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/05/13 -- Balmoral Resources Ltd. ("Balmoral" or the "Company") (TSX VENTURE: BAR)(OTCQX: BALMF) announced today that it has completed the winter 2013 drill program on its Detour Trend Gold Project in Quebec. Drilling was focused in and around the high-grade Martiniere West Zone and Bug Lake area gold discoveries and on exploration targets on the broader Martiniere Property. The expansion and exploration drill program was completed on time and on budget.
In total, approximately 13,600 metres of drilling were completed in 50 diamond drill holes. Twenty four holes focused on lateral and depth extensions of the Bug Lake and associated zones of gold mineralization (results pending), nine holes on vertical and lateral extensions of the West Zone at depths below 150 metres (results pending) and eighteen first pass exploration holes which were completed outside the areas of previous testing on the Property (results of sixteen holes (MDX-13-08 to -23) have now been received and reported).
Results received to date (see NR13-06; Mar. 4, 2013) have indicated that high-grade gold mineralization can now be traced for over 850 metres along the trend of the Martiniere West Zone, more than doubling the previously known length of this trend and extending to over 2,000 metres the northeast-southwest strike extent of the Martiniere gold system. As well, recently received results indicate the discovery of a new area of anomalous gold mineralization located approximately 500 metres northeast of the Bug Lake Zone in an area of the property which had not been previously. Hole MDX-13-20 intersected a number of intervals of anomalous gold mineralization (ranging from 0.96 g/t gold to 2.67 g/t gold) over drill indicated intervals of 0.32 to 3.03 metres. The anomalous gold mineralization occurs within a zone of increased pyrite content and quartz-carbonate veining between 82.83 and 114.25 metres down hole. This new discovery and the others announced earlier continue to demonstrate the highly prospective nature of the Company's extensive land holdings along the Detour Gold Trend, adjacent Canada's newest gold producer.
Updated Martiniere Technical Report Filed
Balmoral also announced that it has now filed, under the Company's profile on Sedar (www.sedar.com), an updated NI43-101 technical report for the Martiniere Property in Quebec. The report updates and replaces a previous report filed in early 2012. The current report incorporates all work completed by Balmoral on the Property up and to the end of 2012. The report was prepared for the Company on an independent basis by Equity Exploration Consultants Ltd. of Vancouver and will also be made available via the Company's website at www.balmoralresources.com. The Company further advises that drilling continues on its Northshore Property in Ontario as announced March 19, 2013 (see NR13-07).
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.
Most Popular Stories
- Boehner Lashes Out Against Ted Cruz, Far Right
- Hawaii Official Who Release Obama Certificate Only Victim of Plane Crash
- Ford Plans New Cars, Jobs in 2014
- 'Rape Insurance' Bill Passes in Michigan
- Ted Cruz Coloring Book Selling Briskly
- Holiday Shopping Off to a Slow Start This Season
- Gold, Silver Slide on Prospects of Fed Exit
- Kim Jong Un's Uncle Executed
- Grizzly Bears Could Be Taken Off Endangered List
- TFA Recruiting DACA Recipients