Balmoral Resources (BAR-T) Oct 22, '18 announced today that it has commenced a borehole electromagnetic survey (“BHEM”), being managed by Discovery Int’l Geophysics Inc., on a series of recently completed and ongoing drill holes which are targeting nickel-copper-cobalt-platinum-palladium mineralization within the Grasset Ultramafic Complex (“GUC”) on the Company’s wholly owned Grasset and Fenelon Properties in Quebec ( see Figure 1).
All four holes completed to date, plus each of the two holes currently in progress, have successfully intersected sulphide mineralization within the GUC. The BHEM system will be used to guide follow-up drilling in each of the two areas currently being explored. In addition to surveying the recently completed and on-going drill holes, the BHEM system will probe several historic holes on the properties which have not been previously surveyed.
Drill testing is currently ongoing in two separate areas of the GUC. To the south, drilling is targeting vertical and lateral expansions of the Grasset nickel-copper-cobalt-platinum-palladium deposit and high-grade vein/breccia discoveries in the footwall to the H3 Zone of the Grasset deposit. Previous BHEM work in and around the deposit identified a series of conductive plates which generally correlate with the highest grade portions of the deposit.
The second drill is currently testing shallow targets in an area approximately eight kilometres northwest of the Grasset deposit, where 2015 drilling by Balmoral discovered nickel sulphide mineralization over significant widths within a high-level intrusive portion of the GUC ( see NR15-04, April 9, 2015).
Drilling of targets within the GUC is expected to continue into November.
Mr. Darin Wagner (P.Geo. B.C. and Restricted Permit, Que.), 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 Company’s exploration activities since inception, has visited the properties on multiple occasions and has review the technical content of this release.
About Balmoral Resources Ltd. – www.balmoralresources.com
Balmoral is a well-funded, multi-award winning Canadian-focused exploration company actively exploring a portfolio of gold and base metal properties located within the prolific Abitibi greenstone belt. The Company’s flagship, 1,000 km2 Detour Gold Trend Project hosts the resource stage Bug and Martiniere West gold deposits and the Grasset nickel-copper-cobalt-PGE deposit. Employing an aggressive, drill focused exploration style in one of the world’s preeminent mining jurisdictions, Balmoral is following an established formula with a goal of maximizing shareholder value through the 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
John Foulkes, Vice-President, Corporate Development
Tel: +1 (604) 638-5815 / Toll Free: +1 (877) 838-3664
E-mail: jfoulkes@balmoralresources.com |
