Sign up Australia
Proactive Investors - Run By Investors For Investors

Balmoral Resources successfully expanding the Bug South Gold deposit at depth

Drill highlights included an intercept of 10.62 metres grading 4.52 g/t (grams per ton) gold.
Balmoral Resources successfully expanding the Bug South Gold deposit at depth
Balmoral is exploring for gold in Quebec

Gold firm Balmoral Resources Ltd (TSE:BAR, OTCQX: BALMF)  told investors it had successfully expanded the Bug South gold deposit on its flagship Martiniere property in Quebec.

The property is along the  Detour Gold Trend and hosts four known gold deposits (Bug North, Bug South, Bug Lower Steep and Martiniere West).

Drill highlights included an intercept of 10.62 metres grading 4.52 g/t (grams per ton) gold.

That included 2.14 metres (m) grading 17.58 g/t gold from the Lower Zone, one of the two primary zones which comprise the Bug South deposit.

Three holes successfully extended the Bug South gold deposit to a vertical depth of over 400 metres, below which it remains open for further expansion, the firm noted.

Assays here included 3.65 g/t (grams per ton) gold from an interval of 0.49 metres and an impressive 17.58 g/t gold from 2.14m.

Notably another hole hit the emerging West Contact Gold Zone. This new zone, first identified earlier in 2017, lies around 100metres to the west of the Bug Gold Trend.

Here, a 58.84 metre downhole interval graded 0.45 g/t (grams per ton) gold, including 2.18 metres grading 6.77 g/t gold. All three holes, which have  hit this new discovery have returned intercepts of greater than 6 g/t gold.

Balmoral is now currently finalizing plans for a $2mln dollar winter drilling and geophysical program on its Detour Gold Trend properties. This program is expected to begin in January, 2018.

Balmoral shares were unchanged on Thursday at C$0.44.



Giles_55af4ddca6481.jpg
Why Invest In Balmoral Resources? Read More Here

Register here to be notified of future BAR Company articles
View full BAR profile View Profile

Balmoral Resources Timeline

Related Articles

periodic table
September 14 2017
Araguaia is set to come on stream as a major new nickel project just as many analysts predict there will be an upswing in the nickel price
1507640356_Copper-tubing.jpg
October 11 2017
Tethyan Resources is sitting on promising mineralisation in a prime location in Europe
picture of mine interior
July 20 2017
Caledonia retains operational control of Blanket and ownership of 49% of the mine in Zimbabwe

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use