Bal­moral drills 10.62 m of 4.52 g/t Au at Mar­tiniere

Stockwatch Daily - - MINES & METALS - Mr. Darin Wag­ner re­ports

BAL­MORAL RE­SOURCES Ltd. has suc­cess­fully ex­panded the Bug South gold de­posit on its flag­ship Mar­tiniere prop­erty in Que­bec. Drill re­sults were high­lighted by an in­ter­cept of 10.62 me­tres grad­ing 4.52 grams per tonne gold, which in­cluded 2.14 me­tres grad­ing 17.58 g/t gold from the Lower zone, one of the two pri­mary zones which com­prise the Bug South de­posit. The Bug South and other nearby gold de­posits lo­cated along the Bug gold trend re­main open for ex­pan­sion to depth and will con­tinue to be the fo­cus of the planned win­ter 2018 drill pro­gram.

Holes MDE-17-300, 308 and 309 suc­cess­fully ex­tended the Bug South gold de­posit to a ver­ti­cal depth of over 400 me­tres, be­low which

it re­mains open for fur­ther ex­pan­sion. Each of these holes sits out­side the cur­rent de­posit out­line with MDE-17-308 rep­re­sent­ing one of the strong­est Lower zone in­ter­cepts to date within the Bug South de­posit.

(See BAR Ta­ble 1 on page 3)

Hole MDE-17-309A in­ter­sected a pre­vi­ously un­known zone of gold-cop­per min­er­al­iza­tion at shal­low depths. The 4.33-me­tre in­ter­val start­ing at a down-hole depth of 168.12 me­tres re­turned 1.01 g/t gold and 0.19 per cent cop­per within a zone of semi-mas­sive sul­phide min­er­al­iza­tion.

Drilling also tested the down-plunge ex­tent of the Bug North gold de­posit in­ter­sect­ing a broad min­er­al­ized in­ter­val of 70.82 me­tres grad­ing 0.54 g/t gold in hole MDE-17-307.

West Con­tact gold dis­cov­ery Hole MDE-17-307 also in­ter­sected the emerg­ing West Con­tact gold zone. A 58.84-me­tre down-hole in­ter­val graded 0.45 g/t gold, in­clud­ing 2.18 me­tres grad­ing 6.77 g/t gold. Large areas of the con­tact regime at depth re­main untested and the dis­cov­ery is open both up and down dip/plunge.

Bug NW gold zone Drilling suc­cess­fully ex­panded the NW zone be­fore en­coun­ter­ing the Lac du Doigt (LdD) fault cor­ri­dor along its north­ern mar­gin. Based on ob­ser­va­tions to date the LdD fault ap­pears to have po­ten­tially off­set the Bug gold trend to the west into an untested area of the prop­erty. Geo­phys­i­cal sur­veys will tar­get this po­ten­tial off­set prior to drill test­ing dur­ing the lat­ter half of the first quar­ter of 2018.

Win­ter 2018 De­tour gold trend pro­gram

Bal­moral is cur­rently fi­nal­iz­ing plans for a $2.0-mil­lion win­ter drilling and geo­phys­i­cal pro­gram on its De­tour gold trend prop­er­ties. This pro­gram is an­tic­i­pated to com­mence in Jan­uary of 2018. The board of di­rec­tors of the com­pany has ap­proved a min­i­mum $8.2-mil­lion 2018 bud­get which is fully fi­nanced.

The win­ter 2018 pro­gram will in­clude ad­di­tional test­ing of the Bug gold de­posits, the gold min­er­al­ized LdD fault cor­ri­dor, the re­cently dis­cov­ered Horse­fly gold zone and other gold dis­cov­er­ies on the Mar­tiniere prop­erty. It will also ten­ta­tively in­clude the first ground­work on the large Hwy 810 prop­erty lo­cated be­tween the Mar­tiniere prop­erty and the Casa Ber­ardi gold mine and fur­ther test­ing of tar­gets through­out the cen­tral and east­ern por­tion of the com­pany’s ex­ten­sive hold­ings along the De­tour gold trend.

Three-di­men­sional mod­el­ling of the known gold de­posits and zones which com­prise the Mar­tiniere gold sys­tem is con­tin­u­ing. The com­pany an­tic­i­pates that this will be com­pleted dur­ing the first quar­ter of 2018 to al­low in­cor­po­ra­tion of the sum­mer/fall drill re­sults.

We seek Safe Har­bor.

Erika Flores con­densed this news re­lease (erikaf@stock­watch.com).

Dougald Graeme Cur­rie, Bryan Disher, Daniel Thomas MacIn­nis, Lawrence Wil­liam Ed­ward Talbot, Darin Wal­ter Wag­ner

(BAR) Shares: 138,510,776

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