Holes WB-12-32 and WB-12-33, the deepest holes ever drilled on the Northshore Property, undercut the Afric Zone at depth with both holes intersecting significant gold values. The intersection in WB-12-33 (1.37 g/t gold over 68.0 metres, including 12.16 g/t gold over 4.00 metres) represents one of the deepest gold intersections ever encountered on the property, at approximately 390 metres vertically below surface. Hole WB-12-33 was terminated within a zone of anomalous gold mineralization at 563 metres indicating that the Afric Zone remains open at depth.
Holes WB-12-29, WB-12-30 and WB-12-35 were drilled to further evaluate the northeast extension of the Afric Zone and all three holes encountered significant gold mineralization. WB-12-29 returned an intercept of 1.95 g/t gold over 44.50 metres (including 9.78 g/t over 5.00 metres) at approximately 200 metres vertically below surface and hole WB-12-35, the most northeasterly hole of the current program, intersected 1.06 g/t gold over 16.00 metres. These intercepts indicate that the system remains open for expansion to the northeast beyond the limits of current drilling.
To date, GTA has completed a total of 35 drill holes (8,224 metres) on the Northshore Property and anomalous gold mineralization has been intersected over a surface extent exceeding 450 metres by 350 metres and to a vertical depth of over 350 metres. Drill results to date confirm the presence of a large, porphyry style gold mineralized system at Northshore which hosts several discrete higher grade gold vein systems.
GTA has indicated that, based on the results reported today, that they expect to commence a fourth phase of drilling in February, 2013.
The planning, execution and monitoring of GTA's exploration programs on the Northshore Property are under the supervision of Robert (Bob) Duess, P. Geo. (Ontario), VP Exploration of GTA. Mr. Duess is a qualified person, as defined by National Instrument 43-101, and is also the Qualified Person for this release. Mr. Duess has supervised the work programs on the Northshore Property, supervised the collection of the samples and drill core described herein and reviewed the assays and QA/QC data. Mr. Duess has also reviewed and approved this release.
GTA has advised the Company that it has implemented a quality control program for the drill programs on the Northshore Property to ensure best practice in sampling and analysis. GTA stated that it maintains strict quality assurance/quality control protocols including the systematic insertion of certified standard reference and blank materials into each sample batch. Analyses in this release were performed by AGAT Laboratories Ltd. of Sudbury, Ontario with ISO 17025 accreditation. Samples are transported in security sealed bags to AGAT and all samples were assayed using industry-standard assay techniques for gold. Gold was analyzed by a standard 30 gram fire assay with an ICP and/or gravimetric finish. In some cases, due to the high grade nature and the abundance of visible gold mineralization, a screen pulp and metallic analyses was performed.
About Balmoral Resources Ltd. - www.balmoralresources.com
Balmoral is a Vancouver-based precious metal exploration and development company focused on high-grade gold discoveries along the Detour Gold Trend in Quebec, Canada. With a philosophy of creating value through the drill bit and with a focus on proven productive precious metal belts, Balmoral is following an established formula with a goal of maximizing shareholder value through discovery and definition of high-grade, Canadian gold assets.
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