Welcome!

News Feed Item

Balmoral Adds Gold and VMS Discoveries to Expanding Inventory of Opportunities on Detour Gold Trend Project, Quebec

- Confirms Gold Mineralized Shear Associated with Large I.P. Anomaly At Martiniere

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 01/17/14 -- Balmoral Resources Ltd. ("Balmoral" or the "Company") (TSX: BAR)(OTCQX: BALMF) reports the discovery of 4 new occurrences of gold mineralization, and the discovery of a new VMS-base metal system, on the Company's wholly owned Detour Gold Trend Project in Quebec.

"The successful results from the fall exploration program continue to demonstrate the extensive nature of the gold mineralized system in the Martiniere area" said Darin Wagner, President and CEO of Balmoral. "The emergence of a new VMS system is a pleasant bonus, further confirming the potential for base metal discoveries in the belt and the effectiveness of the exploration tools being employed by our team throughout the 600+ square kilometre Detour Gold Trend Project".

New Gold Occurrences on the Martiniere Property

As previously announced, drill hole MDX-13-26, the first exploration hole of the fall program, intersected near surface, high-grade gold mineralization returning 5.59 g/t gold over 2.30 metres between down-hole depths 63.93 and 66.70 metres. This new gold occurrence occurs at the sheared contact between a quartz porphyry intrusion and mafic volcanic rocks. It is located along the eastern flank of a large area of anomalous chargeability responses centered east and south of the heart of the Bug Lake Zone (see NR13-21, Sept. 5, 2013). Follow-up drilling will test for extensions of this mineralization to the north and south along the interpreted strike of the quartz porphyry. The map which shows the location of this hole and the others described in the release can be viewed at www.balmoralresources.com.

Holes MDX-13-29 and 30 tested the central portion of this chargeability anomaly. Both holes intersected a broad zone of shearing and silica-sericite alteration. Anomalous gold mineralization is associated with the silica-sericite alteration as elsewhere on the property. Results were highlighted by an intercept of 0.34 g/t gold over 27.87 metres (67.51 to 95.38 metres down hole), including 11.50 g/t gold over 0.61 metres (83.46-84.07), in the deeper of the two holes - MDX-13-30. These holes were drilled west to east across the central portion of the chargeability anomaly. The anomaly extends, and is untested, for several hundred metres to the north and south.

Hole MDX-13-35, one of only two holes testing northern portion of the Sunday Lake Deformation Zone on the Martiniere Property, collared too far south to test the prospective northern contact of the Deformation Zone. The hole, drilled south to north across the Deformation Zone, was terminated in a zone of anomalous gold mineralization in altered volcanic rocks south of the contact which returned 0.10 g/t gold over 11.74 metres (242.26-254.00 (EOH) metres). Follow-up drilling is planned to test the area north of this anomalous zone and the northern contact of the Deformation Zone which hosts the Detour Gold Deposit 50 kilometres to the east.

Hole MDX-13-36 was collared approximately 500 metres southwest of the West Zone and 100 metres along strike to the west from holes MDW-11-12 and MDW-11-13. The MDW-11 series holes had intersected narrow intercepts of high-grade gold mineralization. A similar zone was intersected in hole MDX-13-36 and returned an anomalous gold intercept of 1.14 g/t gold over 10.87 metres (111.45 to 122.32 metres downhole), including a high-grade intercept of 12.40 g/t gold over 0.54 metres. The three intercepts define a northeast trending, steeply south dipping mineralized shear structure, which would approximately parallel the strike/dip of the West Zone, which is open along strike and down-dip.

VMS Discovery

As part of Balmoral's on-going target generation and testing program three new base metal targets were drilled during the fall program.

Drill hole MDX-13-39 (see Figure 1) intersected what is interpreted by the Company to be an exhalative horizon, commonly associated with the marginal phases of Cu/Zn/Pb VMS deposits, which returned elevated levels of zinc-lead-silver and gold. This exhalite - see photo at www.balmoralresources.com/s/Martiniere.asp - was intersected over a down-hole length of approximately 4.9 metres (97.9 to 102.8 metres). It is associated with a previously untested, 700 metre long EM conductor. The exhalative horizon is underlain by an extensive chlorite-sulphide alteration zone, which like a similar alteration "pipe" beneath the Martiniere East VMS discovery, is anomalous in gold mineralization returning an average grade of 0.18 g/t gold over 54.14 metres from 154.86 to 209.00 metres down the hole. The hole was terminated in the alteration zone at a down-hole depth of 209.00 metres. Additional testing is planned for this area.

Hole MDX-13-38, testing a second target 1500 metres to the north of hole 39, and intersected a 16 metre wide interval of pyritic mudstone with locally anomalous copper, lead, zinc and silver values. An extensive series of conductors are present in the MDX-13-38 area and additional geophysical work is planned prior to a resumption of drill testing.

Drilling to Resume

Balmoral plans to resume drilling on the Detour Gold Trend Project within the next 3-4 weeks. The initial drill plan calls for the resumption of drill testing in the Bug Lake area of the Martiniere Property shortly after completion of the winter road into the Martiniere camp. Drilling of gold and base metal targets in the Grasset area will commence shortly thereafter. The extreme cold weather in Eastern Canada has allowed for near perfect ground conditions for the winter drill program.

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 precious metal exploration and development company focused on the expansion and delineation of high-grade gold discoveries along the Detour Gold Trend in Quebec, Canada. With a philosophy of creating value through the drill bit and with a focus on proven productive precious metal belts, Balmoral is following an established formula with a goal of maximizing shareholder value through discovery and definition of high-grade, Canadian gold assets.

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

"Darin Wagner"

President and CEO

This press release contains forward-looking statements and forward-looking information (collectively, "forward looking statements") within the meaning of applicable Canadian and United States securities laws. All statements, other than statements of historical fact, included herein, including statements regarding the anticipated content, commencement, duration and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, the timing of the receipt of assay results, and business and financing plans and trends, are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions or are those which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward-looking statements. Important factors that could cause actual events and results to differ materially from the Company's expectations include those related to weather, equipment and staff availability; performance of third parties; risks related to the exploration stage of the Company's projects; market fluctuations in prices for securities of exploration stage companies and in commodity prices; and uncertainties about the availability of additional financing; risks related to the Company's ability to identify one or more economic deposits on the properties, and variations in the nature, quality and quantity of any mineral deposits that may be located on the properties; risks related to the Company's ability to obtain any necessary permits, consents or authorizations required for its activities on the properties; and risks related to the Company's ability to produce minerals from the properties successfully or profitably. Trading in the securities of the Company should be considered highly speculative. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the latest technical reports filed with respect to the Company's mineral properties.

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.

Contacts:
John Toporowski, Manager, Corporate Development
Tel: (604) 638-5815 / Toll Free: (877) 838-3664
E-mail: [email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Join IBM November 1 at 21st Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Cognitive analysis impacts today’s systems with unparalleled ability that were previously available only to manned, back-end operations. Thanks to cloud processing, IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Imagine a robot vacuum that becomes your personal assistant tha...
Cloud Expo, Inc. has announced today that Andi Mann and Aruna Ravichandran have been named Co-Chairs of @DevOpsSummit at Cloud Expo Silicon Valley which will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. "DevOps is at the intersection of technology and business-optimizing tools, organizations and processes to bring measurable improvements in productivity and profitability," said Aruna Ravichandran, vice president, DevOps product and solutions marketing...
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous a...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, will lead you through the exciting evolution of the cloud. He'll look at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering ...
SYS-CON Events announced today that IBM has been named “Diamond Sponsor” of SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California.
SYS-CON Events announced today that N3N will exhibit at SYS-CON's @ThingsExpo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. N3N’s solutions increase the effectiveness of operations and control centers, increase the value of IoT investments, and facilitate real-time operational decision making. N3N enables operations teams with a four dimensional digital “big board” that consolidates real-time live video feeds alongside IoT sensor data a...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
In a recent survey, Sumo Logic surveyed 1,500 customers who employ cloud services such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). According to the survey, a quarter of the respondents have already deployed Docker containers and nearly as many (23 percent) are employing the AWS Lambda serverless computing framework. It’s clear: serverless is here to stay. The adoption does come with some needed changes, within both application development and operations. Tha...
SYS-CON Events announced today that Avere Systems, a leading provider of enterprise storage for the hybrid cloud, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Avere delivers a more modern architectural approach to storage that doesn't require the overprovisioning of storage capacity to achieve performance, overspending on expensive storage media for inactive data or the overbui...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
We all know that end users experience the Internet primarily with mobile devices. From an app development perspective, we know that successfully responding to the needs of mobile customers depends on rapid DevOps – failing fast, in short, until the right solution evolves in your customers' relationship to your business. Whether you’re decomposing an SOA monolith, or developing a new application cloud natively, it’s not a question of using microservices – not doing so will be a path to eventual b...
The dynamic nature of the cloud means that change is a constant when it comes to modern cloud-based infrastructure. Delivering modern applications to end users, therefore, is a constantly shifting challenge. Delivery automation helps IT Ops teams ensure that apps are providing an optimal end user experience over hybrid-cloud and multi-cloud environments, no matter what the current state of the infrastructure is. To employ a delivery automation strategy that reflects your business rules, making r...
Digital transformation is changing the face of business. The IDC predicts that enterprises will commit to a massive new scale of digital transformation, to stake out leadership positions in the "digital transformation economy." Accordingly, attendees at the upcoming Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA, Oct 31-Nov 2, will find fresh new content in a new track called Enterprise Cloud & Digital Transformation.
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software. They hope to capture value from emerging technologies such as IoT, SDN, and AI. Ultimately, irrespective of the vertical, it is about deriving value from independent software applications participating in an ecosystem as one comprehensive solution. In his session at @ThingsExpo, Kausik Sridhar, founder and CTO of Pulzze Systems, will discuss how given the magnitude of today's applicati...