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.

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
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business in 2016. However, IoT is far more complex than most firms expected. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, a renowned visionary and thought leader, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology and business models to adopt and leverage IoT. He will drill down to the components in this fra...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, wil...
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Enterprises have forever faced challenges surrounding the sharing of their intellectual property. Emerging cloud adoption has made it more compelling for enterprises to digitize their content, making them available over a wide variety of devices across the Internet. In his session at 19th Cloud Expo, Santosh Ahuja, Director of Architecture at Impiger Technologies, will introduce various mechanisms provided by cloud service providers today to manage and share digital content in a secure manner....
SYS-CON Events announced today that Hitrons Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.