Balmoral Resources (BAR-T) June 8, '16 today reported the final results from the winter 2016 drill program on the Company’s Martiniere Property, part of the Detour Trend Project in Quebec. The Upper Bug Lake Zone returned gold mineralized intervals ranging from 25.02 to 48.46 metres wide, starting at less than 100 metres vertical depth, from four of five holes along the southern segment of the Bug Lake Trend. The Upper Bug Lake Zone in the fifth hole, MDE-16-206 was disrupted by a dyke but returned a high grade intercept of 7.16 g/t gold over 1.08 metres at the base of the Zone.
Drilling continues to intersect high-grade (>3 g/t) gold mineralization within the Upper Bug Lake and Hanging Wall Porphyry (“HWP”) Zones, including results of 3.44 g/t gold over 7.14 metres and 3.14 g/t gold over 8.76 metres from the Upper Bug Lake Zone in holes MDE-16-209 and MDE-16-210 respectively (see Figures 1, 2 and 3 and Table 1 below).
“Today’s results cover a 375 metre long segment of the southern Bug Lake Trend and continue to illustrate the broad nature of the Upper Bug Lake Gold Zone in the near surface. As well all holes successfully intersected high grade intervals within the core of the Upper Bug Lake and HWP Zones” said Darin Wagner, President and CEO of Balmoral. “Two drills are set to return to the Property and begin further expansion of the Bug Lake Gold Zones, and broader Martiniere gold system, within the next two weeks.”
Table 1: Bug Lake South Results
Hole
Number | Northing | Easting | Dip
(Degrees) | From
(Metres) | To
(Metres) | Interval*
(Metres) | Gold
(g/t) | Zone | MDE-16-206
including
and | 3+00S | 1+00W | -50 | 223.70
226.87
232.55
315.00
335.37 | 238.55
228.05
234.05
316.08
344.02 | 14.85
1.18
1.50
1.08
8.65 | 1.64
6.37
6.18
7.16
0.67 | HWP
“
“
U Bug Lk
L Bug Lk | MDE-16-207
including
and | 2+50S | 2+60W | -50 | 98.86
112.32
116.56
127.08
264.38 | 100.88
160.78
118.92
129.41
275.09 | 2.02
48.46
2.36
2.33
10.71 | 0.84
1.15
3.44
3.20
0.30 |
HWP+U Bug Lk
HWP
U Bug Lk
? | MDE-16-208
including
and | 4+50S | 2+70W | -54 | 131.40
132.6
142.94 | 156.42
134.05
143.94 | 25.02
1.45
1.00 | 1.23
8.60
12.00 | U and L Bug Lk
U Bug Lk
U Bug Lk | MDE-16-209
including
which includes
which includes | 1+25S | 2+80W | -45 | 21.45
56.40
75.70
80.54
86.63 | 24.00
100.00
98.72
87.68
87.68 | 2.55
43.60
23.02
7.14
1.05 | 0.18
1.41
2.34
3.44
8.46 | Zinc Zone
U Bug Lk
“
“
” | MDE-16-210
including
which includes
including
including | 1+25S | 2+80W | -56 | 18.01
88.31
92.02
96.27
119.77
184.82
184.82 | 22.14
133.10
100.78
97.14
121.13
195.56
185.63 | 4.13
44.79
8.76
0.87
1.36
10.74
0.81 | 0.21
1.18
3.14
15.00
3.25
0.44
3.25 | Zinc Zone
U Bug Lk
“
“
“
L Bug Lk
” | * 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. All values presented uncapped.
Drill hole MDE-16-207 tested the central portion of a wedge created by the intersection of the Upper Bug Lake and HWP Zones, intersecting a broad zone of gold mineralization with higher grade sub-zones associated with both the HWP contact, and the Upper Bug Lake Zone. Drill holes MDE-16-209 and MDE-16-210 both collared into a new, sediment hosted zone of anomalous gold and zinc mineralization. Hole MDE-16-209 returned 0.45% zinc and 0.18 g/t gold over 2.55 metres from the bedrock collar (21.45 metres). Hole MDE-16-210 returned 0.62% zinc and 0.21 g/t gold over 4.13 metres also from the bedrock collar at 18.01 metres down hole.
Three holes were also drilled into areas of complex geology toward the northern end of the Bug Lake Trend (see Figure 1). Holes MDE-16-211 and MDE-16-212 each intersected multiple intervals of anomalous gold mineralization associated with the extensive felsic porphyry dyking, including several intervals located west of the projected trace of the Bug Lake Trend suggesting the potential for additional zones of gold mineralization in this area. Hole MDE-16-213 was collared along the northern margin of the Lac du Doigt (“Finger Lake”) Fault Zone to aid in summer target delineation along and north of this structure. It returned high-grade gold mineralization from a zone of shearing and quartz veining at approximately 32 metres vertical depth highlighting the potential of this new target environment.
Table 2: Northern Bug Lake Gold Trend, Martiniere Property
Hole
Number | Northing | Easting | Dip
(Degrees) | From
(Metres) | To
(Metres) | Interval*
(Metres) | Gold
(g/t) | Zone | | MDE-16-211 | 5+25N | 6+20W | -50 | 131.03
294.46 | 144.92
305.48 | 13.89
11.02 | 0.28
0.47 | ?
L Bug Lk? | MDE-16-212
including | 2+75N | 3+90W | -50 | 140.53
186.02
194.13
227.00
271.97
273.47 | 144.55
187.70
202.14
245.87
281.66
274.13 | 4.02
1.68
8.01
18.87
9.69
0.66 | 0.42
2.50
0.37
0.11
1.14
7.59 |
L Bug Lk? | | MDE-16-213 | 6+50N | 5+15W | -45 | 40.37 | 41.29 | 0.92 | 3.04 | | * 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. All values presented uncapped.
The fully funded, summer-fall $4.0 million, 20,000 metre diamond drill program for the Detour Trend Project is anticipated to commence within the next two weeks with two drills initially focused on expanding the known gold zones along the Bug Lake Trend.
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 properties 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 the 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. In addition all results are subjected to independent, third party QA/QC review prior to publication.
About Balmoral Resources Ltd. – www.balmoralresources.com
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.
On behalf of the board of directors of
BALMORAL RESOURCES LTD.
“Darin Wagner”
President and CEO
For further information contact:
| John Foulkes, Vice-President, Corporate Development
Tel: (604) 638-5815 / Toll Free: (877) 838-3664
E-mail: jfoulkes@balmoralresources.com
| |
