Balmoral drills 10.62 m of 4.52 g/t Au at Martiniere
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 (email@example.com).
Dougald Graeme Currie, Bryan Disher, Daniel Thomas MacInnis, Lawrence William Edward Talbot, Darin Walter Wagner
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