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Balmoral Resources hits 6.05 metres of 6.23 g/t gold at Martiniere

This find gives Balmoral another high-grade gold target along the Bug Lake gold trend

Balmoral Resources Ltd hits 6.05 metres of 6.23 g/t gold at Martiniere
Balmoral is a gold explorer in Quebec

Shares in Balmoral Resources Ltd (TSE:BAR, OTCQX: BALMF)  nudged higher in Toronto as it hit 6.05 metres (m) of 6.23 g/t of gold at the Martiniere property in Quebec.

The mining junior released today further encouraging near-surface, high-grade gold drilling results from its Detour Gold trend project.

Hole MDE-17-274 returned the best drill intercept so far from the Bug Southeast zone, with the intercept mentioned above

Notably, this find gives Balmoral another high-grade gold target along the Bug Lake gold trend -  joining the Bug North, Bug South and Bug Lower Steep gold deposits.

Drilling also extended both the ME-23 and the recently discovered Horsefly gold zones, the group said.

These zones lie around 260 and 500 metres, respectively, east of the Bug North gold deposit.

Highlight assays from here include 5.49 metres grading 6.64 g/t gold, at only 170 vertical metres.

Significantly, the ME-23 zone remains open downplunge and along strike to the south for further expansion.

Follow-up testing at Horsefly  has now extended the zone down dip and to the south with an intercept of 22.15 metres grading 2.04 g/t gold, including a high-grade core of 8.38 metres grading 4.79 g/t gold, Balmoral said.

The final results from the winter/spring Martiniere drill program are expected over the next three weeks, it added, having been delayed due to exceptionally heavy sample inflows at ALS Minerals facilities in Eastern Canada.

Summer drilling at Martiniere is expected to begin before the end of June and to continue through the summer months.

It will be focused on expanding multiple deposits and zones comprising the Martiniere gold system and exploring for new discoveries near to known deposits.

Shares in Toronto added 1.45% to $0.70.

Quick facts: Balmoral Resources Ltd

Price: 0.455 CAD

Market: TSX
Market Cap: $80.89 m

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Balmoral Resources' Darin Wagner looking ahead to an 'exciting & busy...

Darin Wagner, chief executive and president at Balmoral Resources Ltd (TSE:BAR, OTCQX: BALMF) tells Proactive they're continuing to see more good results from recent drilling at their Detour Gold trend project in Quebec. There the Bug South deposit has now been extended to a depth of...

on 19/7/17

2 min read