Adds Gold Discoveries to Expanding Inventory at Detour Project in Quebec
Toronto, Jan 19, 2014 AEST (ABN Newswire) - Balmoral Resources Ltd. (
TSE:BAR) has discovered four new occurrences of gold mineralization and a new volcanogenic-massive-sulphide-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 chief executive officer 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-plus-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 grams per tonne gold over 2.30 metres between downhole depths 63.93 metres 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 centred east and south of the heart of the Bug Lake zone (see news release dated 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 that shows the location of this hole and the others described in the release can be viewed at the company's website.
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 metres to 95.38 metres downhole), including 11.50 g/t gold over 0.61 metre (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 the 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 metres to 254.00 metres (end of hole)). 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 metres to 122.32 metres downhole), including a high-grade intercept of 12.40 g/t gold over 0.54 metre. 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 continuing target generation and testing program, three new base metal targets were drilled during the fall program.
Drill hole MDX-13-39 intersected what is interpreted by the company to be an exhalative horizon, commonly associated with the marginal phases of copper/zinc/lead VMS deposits, which returned elevated levels of zinc-lead-silver and gold. This exhalite -- see the photo at the company's website -- was intersected over a downhole length of approximately 4.9 metres (97.9 metres to 102.8 metres). It is associated with a previously untested, 700-metre-long electromagnetic 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 metres to 209.00 metres down the hole. The hole was terminated in the alteration zone at a downhole depth of 209.00 metres. Additional testing is planned for this area.
Hole MDX-13-38, testing a second target 1,500 metres to the north of hole 39, 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 three weeks to four 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.
About Balmoral Resources Ltd
Balmoral Resources Ltd. (
TSE:BAR) (OTCMKTS:BALMF) is a Canadian-based discovery company focused on high-grade nickel and gold discoveries on its wholly owned, 700+ square kilometre Detour Trend Project in Quebec, Canada. With a philosophy of creating value through the drill bit and a focus on proven productive precious/base metal belts, Balmoral is following an established formula with a goal of maximizing shareholder value through discovery and definition of high-grade, Canadian base metal and gold assets.
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