SAN FRANCISCO, CA --(Marketwired - February 24, 2017) - Balmoral Resources Ltd.'s (
Company included in article: Balmoral Resources Ltd.
Balmoral Resources announced on Feb. 15 that drilling has extended the Bug South gold deposit on the Martiniere Property in Quebec to a depth of 350 vertical meters and it "remains open down-plunge below this level." The company also announced the best intercept to date at the Detour East Property, located 40 miles to the west.
Prior to that, Balmoral reported the discovery of a new, near-surface zone of high-grade mineralization on its Martiniere Property, the "fourth new discovery from the summer/fall 2016 drill program." The intercept returned 11.66 meters grading 6.25 g/t gold. According to the company, the "new discovery is located 250 to 300 metres east of the projection of the main Bug Lake Gold Trend in a largely untested area of the property."
The company also announced the commencement of a 25,000-meter drill program for 2017, focusing on the "continued expansion and delineation of the Bug Lake gold deposits and other recent high-grade, near surface gold discoveries on its Martiniere Property."
Gary Baschuk of PearTree Securities wrote that "the discovery of the new zone we believe is significant and illustrates the potential for additional discoveries between the Sunday Lake Deformation Zone and the Lac du Doigt Fault." Looking ahead, Baschuk stated, "We expect Balmoral to have another year of hits and discoveries as the company gains further insight into the regional and local structural controls and more importantly the subtle controls of the gold mineralization."
Continue reading this interview: The Discoveries Keep on Coming for Balmoral Resources
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