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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (12511)

4/20/2015 8:25:15 AM

From: Goose94

Read Replies (1) | Respond to of 202372

Balmoral Resources (BAR-T) April 20, '15 today reported results for the first 9 holes from recently completed winter 2015 drill program on the Company's wholly owned Martiniere Property. The Martiniere Property forms part of the Company's 700+ square kilometre Detour Trend Project and is located approximately 40 km west of Balmoral's Grasset Ni-Cu-PGE discovery.

Results were highlighted by intercepts of 19.55 g/t gold over 44.45 metres, including 34.84 g/t gold over 24.14 metres in hole MDE-15-166, one of the strongest intercepts to date from the Footwall Zone, and 4.28 g/t gold over 53.78 metres from the combined Lower Bug Lake and Footwall Zones in hole MDE-15-73, including 7.01 g/t gold over 22.48 metres through the Footwall Zone.

Drilling focused on infill and expansion of the known gold zones across a 225 long x 150 metre deep section of the 1,200 metre long x 400 metre deep, open ended Bug Lake Gold Trend. Today's results continue to demonstrate the continuity of high-grade gold mineralization within the numerous zones located along the north-south oriented Bug Lake Gold Trend, and in particular the very high-grade nature of the Footwall and Hanging Wall Zones (see Figures 1, 2 and 3).

"We are pleased to see our initial winter assays meet, or in several cases exceed, results from our previous work in this portion of the Bug Lake Gold Trend and pleasantly surprised with the identification of high-grade base metal sulphides potentially associated with the Martiniere East VMS system" said Darin Wagner, President and CEO of Balmoral Resources.

Table 1 - Bug Lake Gold Trend

Hole

Northing

Easting

Dip

From

Interval*

Gold

Zone

Number

(Degrees)

(Metres)

(g/t)

MDE-15-166

1+00N

2+80W

-60

58.62

62.13

3.51

8.49

U Bug Lake

including

59.96

60.36

0.40

55.30

96.26

96.81

0.55

15.10

Footwall A

104.15

107.14

2.99

6.03

Footwall B

118.78

163.23

44.45

19.55

Footwall

including

134.80

158.94

24.14

34.84

which includes

134.80

141.91

7.11

75.64

including

136.44

137.75

1.31

158.56

and

147.87

157.18

9.31

30.45

191.61

192.25

0.64

5.65

Footwall 2

MDE-15-167

0+00N

2+10W

-58

64.24

73.81

9.57

3.91

including

65.64

66.37

0.73

16.55

and

72.97

73.81

0.84

14.75

138.26

139.22

0.96

6.64

150.31

197.15

46.84

1.39

L Bug Lk + FW

including

164.64

166.21

1.57

12.05

L Bug Lake

and

183.17

183.58

0.41

18.15

Footwall A

and

191.63

196.39

4.76

2.82

Footwall

which includes

194.80

195.38

0.58

9.02

MDE-15-168

0+00N

2+10W

-63

71.60

72.50

0.90

32.80

138.51

156.57

18.06

0.73

U Bug Lake

including

138.51

139.38

0.87

3.08

167.50

187.58

20.08

2.21

L Bug Lake

including

176.64

187.58

10.94

3.93

which includes

182.29

187.58

5.29

6.33

194.15

222.00

27.85

4.58

including

199.37

210.36

10.99

11.17

MDE-15-169

1+25N

2+90W

-51

33.09*

42.56

9.47

2.07

U Bug Lake

including

39.02

39.74

0.72

14.75

78.45

79.53

1.08

3.05

FWA

98.10

98.77

0.67

24.80

142.41

143.3

0.89

6.19

FW2

MDE-15-170

1+25N

2+90W

-59

31.22

51.23

20.01

3.61

U Bug Lake

including

32.56

33.20

0.64

69.70

which includes

31.22

40.16

8.94

6.55

and including

50.45

51.23

0.78

8.87

61.36

65.00

3.64

2.47

L Bug Lake

105.48

116.41

10.93

23.02

including

111.63

115.65

4.02

43.40

MDE-15-171

1+50N

2+20W

-47

69.43

70.12

0.69

90.40

130.40

146.98

16.58

1.03

L Bug Lake

including

137.19

137.59

0.40

5.11

MDE-15-172

2+25N

2+80W

-46

35.12

49.79

14.67

1.73

U Bug Lake

including

40.77

46.59

5.82

3.24

VMS

64.55

80.31

15.76

0.52

L Bug Lake

MDE-15-173

1+00N

2+30W

-54

59.58

60.33

0.75

8.63

87.77

141.55

53.78

4.28

L Bug Lk + FW

including

87.77

97.57

9.80

5.54

L Bug Lake

and

108.14

113.96

5.82

2.53

and

119.07

141.55

22.48

7.01

FWA + FW

which includes

123.66

125.20

1.54

12.41

FWA

and

138.45

141.55

3.10

39.42

MDE-15-174A

1+00N

2+30W

-64

35.19

35.75

0.56

53.00

68.40

72.87

4.47

9.14

including

71.25

72.00

0.75

40.80

124.44

125.52

1.08

13.01

133.62

169.00

35.38

0.73

L Bug Lake

including

140.26

140.70

0.44

4.04

149.21

149.90

0.69

3.08

* 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.
** Collared into mineralized zone
U Bug Lake = Upper Bug Lake; L Bug Lake = Lower Bug Lake; FW = Footwall, HW = Hanging Wall; ? = Unassigned, vein style mineralization

Copper-Zinc-Silver-Gold Intercept

Drilling also intersected a 2.10 metre interval of high-grade copper-zinc-silver-gold mineralization which, while incorporated into the later Bug Lake mineralized system, is interpreted to be associated with the adjacent Martiniere East VMS system. Hole MDE-15-172 intersected 2.10 metres grading 1.52% Cu, 4.20% Zn, 29.44 g/t Ag and 2.79 g/t Au from a semi-massive sulphide interval incorporated into a brecciated phase of the Upper Bug Lake Gold Zone. The metal suite and associated trace elements are atypical of the Bug Lake Gold Trend and of clear VMS affinity. They would represent by far the strongest base metal results to date from the Martiniere East area. Today's intercept provides a positive indication that the Martiniere East VMS system, and by inference VMS systems within the broader Detour Trend land package which have not been a primary focus of exploration targeting, are capable of producing base metal grades of economic interest similar to those observed in the nearby Selbaie and Mattagami camps.

Table 2 - Base Metal Intercept MDE-15-172

Hole

From

Interval*

Copper

Zinc

Silver

Gold

Number

(Metres)

g/t

MDE-15-172

40.23

42.33

2.10

1.52

4.20

29.44

2.79

including

40.77

41.74

0.97

2.65

5.93

50.88

5.25

* 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.

Results from an additional 21 holes completed during the winter program remain pending. Additional infill and expansion drilling along the Bug Lake Gold Trend will resume in the second or third quarter of 2015, as will testing of additional gold and VMS targets throughout the Martiniere Property.

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 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.

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 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.

About Balmoral Resources Ltd. - www.balmoralresources.com

Balmoral is a Canadian-based discovery company focused on high-grade nickel and gold discoveries on its wholly owned, 700+ square kilometre Detour Trend Project in Quebec, Canada. With a philosophy of creating value through the drill bit and a focus on proven productive precious/base metal belts, Balmoral is following an established formula with a goal of maximizing shareholder value through discovery and definition of high-grade, Canadian base metal and gold assets.

On behalf of the board of directors of
BALMORAL RESOURCES LTD.

"Darin Wagner"

President and CEO

This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.

Image Available: http://www.marketwire.com/library/MwGo/2015/4/18/11G038867/Images/Figure_1_Bug_Lake_Plan_Map-868305809601.jpg
Image Available: http://www.marketwire.com/library/MwGo/2015/4/18/11G038867/Images/Figure_2_Bug_Lake_Zone_Section_A-A-586528378157.JPG
Image Available: http://www.marketwire.com/library/MwGo/2015/4/18/11G038867/Images/Figure_3_Bug_Lake_Zone_Section_B-B-1212112437597.JPG

For further information contact:
John Foulkes, Vice-President, Corporate Development
Tel: (604) 638-5815 / Toll Free: (877) 838-3664
E-mail: jfoulkes@balmoralresources.com