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Balmoral Resources expanding gold mineralisation at Bug South

Chief executive Darin Wagner said it was a "solid start to the winter program"

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Drilling continues at Martiniere and the winter program has now been expanded from the planned 7,000 - 8,000 metres to over 10,000 metres, weather permitting

Quebec-focused Balmoral Resources Ltd (TSE:BAR; OTCQX: BALMF) reported further encouraging drill results from its Martiniere property, which have expanded the Bug South deposit.

The first seven holes of this winter program tested the Bug South deposit above the south-southeast trending plunge line of the core of the deposit.

Chief executive and president Darin Wagner told investors it was a "solid start to the winter program, with the initial holes successfully confirming broad near surface gold mineralisation above the central core of the Bug South deposit and increasing the size of the central high-grade core".

"Drilling has now moved on to testing the down-plunge extensions of the Bug South and Bug North deposits, as well as our recent high-grade gold discoveries located proximal to the Bug Lake Gold Trend.

"Each of these target areas represent near term growth opportunities for the expanding gold inventory at Martiniere."

Highlights include 75.45 metres grading 1.11 g/t (grams per ton) gold.

There was also an intercept of 53.8 metres grading 1.12 g/t gold; 50.21 metres grading 1.08 g/t gold and 46.89 metres grading 1.26 g/t gold.

Drilling continues at Martiniere and the winter program has now been expanded from the planned 7,000 - 8,000 metres to over 10,000 metres, weather permitting.

So far, over 8,500 metres of drilling has been completed over 25 holes testing the Bug South and Bug North deposits, as well as recent near surface high-grade gold discoveries located to the northeast and southeast of the deposits.

Quick facts: Balmoral Resources Ltd

Price: 0.455 CAD

TSX:BAR
Market: TSX
Market Cap: $80.89 m
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