BAR-T Balmoral Launches Summer 2016 Drill Program
• Multi-rig, $4.0 Million, 20,000 Metre Drill Program Underway
• Bug Lake, Finger Lake and Lynx-Rambo Gold Trends to be Targeted
(Vancouver, June 27, 2016) Balmoral Resources Ltd. (“Balmoral” or the “Company”) (TSX: BAR; OTCQX: BALMF) reports that drilling has resumed on the Company’s Detour Trend Project in Quebec. Two drills are currently active on the Company’s Martiniere Property where their initial focus will be the on-going delineation and near surface expansion of the southern portion of the Bug Lake Gold Trend. The winter drill program at Bug Lake South continued to demonstrate the presence of an extensive gold mineralized system along the Bug Lake Fault, as well as the development of a number of strongly gold mineralized zones in the hanging wall and footwall rocks proximal to the fault. Highlights included intercepts of 14.08 g/t gold over 12.56 metres (including 199.00 g/t gold over 0.85 metres), 11.55 g/t gold over 4.47 metres and 3.31 g/t gold over 15.42 metres from the Upper Bug Lake and HWP Zones (see NR16-08, May 11, 2016).
As the program progresses the Company anticipates drilling a series of holes on both Bug Lake North and South to further extend the known mineralization to depth. Drilling to date at Bug Lake has intersected gold mineralization for 1,800 metres along strike and to depths of approximately 400 metres, in the Bug Lake North area (see NR14-10, May 12, 2014). The system remains open to depth on all sections tested to date and along strike to the south toward the regional Sunday Lake Deformation Zone which hosts the Detour Lake Gold Mine 45 kilometres to the west, one of Canada’s largest gold mines.
In addition, drilling will test a number of targets developed from modeling of winter geophysical results along the recently discovered, east-west trending Finger Lake (Lac du Doigt) Gold Trend on the Martiniere Property. Balmoral confirmed the discovery of gold mineralization along the Finger Lake Trend in 2015 and conducted an extensive geophysical survey across a 5.0 kilometre long segment of the Trend during this past winter in preparation for summer drilling. The Finger Lake Gold Trend runs parallel to the Sunday Lake Deformation Zone, with the Company’s Bug Lake and Martiniere West Gold Zones developed between these two deformation corridors ( see Figure 1).
Balmoral also plans to resume testing of the Detour East Property during the current program. The Detour East Property sits 10 kilometres east of the Detour Lake Gold Mine and covers approximately 20 kilometres of the Sunday Lake Deformation Zone which hosts the mine. It also cover over 15 kilometres of the Lower Detour/Massicotte Deformation Zone which hosts Detour’s recent 58N high-grade gold discovery. Gold mineralization has been intersected within the latter structure for over 13 kilometres – the Lynx-Rambo Trend - across the Detour East Property in historic, shallow drilling. The upcoming program will be the first significant testing of the Lower Detour/Massicotte Deformation Zone by Balmoral since acquiring the Detour East Property in 2010.
Mr. Darin Wagner (P.Geo.), President and CEO of the Company, is the non-independent qualified person who has approved the scientific and technical information contained in this news release. Mr. Wagner has supervised the work programs on the Martiniere and Detour East Properties since their inception, visited the properties on multiple occasions, reviewed the results with senior on-site geological staff and reviewed the available analytical and quality control results produced by historic operators and Balmoral.
About Balmoral Resources Ltd. – www.balmoralresources.com
Balmoral is a well-funded, Canadian-based company actively delineating and expanding both high-grade gold and nickel-copper-PGE discoveries 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: info@balmoralresources.com |
