Balmoral intersects 8.08 g/t gold over 7.95 metres in deepest hole to date at Martiniere West
Tuesday, Sep 25, 2012Balmoral Resources Ltd. ("Balmoral" or the "Company") (TSX VENTURE:BAR)(OTCQX:BALMF) today reported results from 5 drill holes which increase the depth extent of the Main portion of the high-grade Martiniere West Zone by more than 30% and the down-plunge extent of the Zone by 40%. Today's results demonstrate continuity of the West Zone for 400 metres down plunge and to a vertical depth of 328 metres, below which it remains open and untested. Drill hole MDW-12-62, the deepest hole to date on the Martiniere Property, returned an intercept of 8.08 g/t gold over 7.95 metres from the Main portion of the West Zone.
Drilling also indicates a significant broadening to depth of the Footwall 2 (FW2) structure which was intersected at a vertical depth of 392 metres in hole MDW-12-62.This FW2 intercept is 140 metres (55%) deeper than any previous significant gold intercept in the West Zone area. Hole MDW-12-64a, which represents the southwestern-most pierce point to date, intersected anomalous gold mineralization in the FW2 over a width of 49.30 meters (@ 1.01 g/t gold), including a core intercept of 3.65 g/t gold over 7.48 metres (see table below). This suggests the FW2 may not only strengthen at depth but also to the southwest outside areas tested by previous drilling.
The Martiniere Property forms part of the Company's Detour Gold Trend Project which spans over 82 kilometres along the Sunday Lake Deformation Zone in Quebec. Balmoral's holdings adjoin those of Detour Gold who are in the final phases of construction of what will be, according to Detour's commentary, Canada's largest gold mine.
"With a 40% increase in the down plunge extent of the West Zone, our deepest hole to date continuing to show excellent grade x thickness and a second potentially productive gold bearing structure now coming into focus we continue to be strongly encouraged with the expansion potential of the West Zone," said Darin Wagner, President and CEO of Balmoral Resources. "Combine this potential with the multitude of high-grade discoveries to the east and the open-ended nature of the broader Martiniere gold system and one can begin to understand how excited we are about on-going developments at Martiniere."