BAR
October 05, 2012
Balmoral Resumes Drilling on Martiniere Property, Quebec
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 5, 2012) - Balmoral Resources Ltd. ("Balmoral" or the "Company") (TSX VENTURE:BAR)(OTCQX:BALMF) today reported that drilling has resumed on the Company's Martiniere Property in Quebec. 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.
The fall drill program will primarily focus on extending the recently identified, shallow high grade gold discoveries associated with the Footwall, Lower Bug, Upper Bug and Hanging Wall structures within the broader Bug Lake Fault Corridor on the Martiniere Property. Gold mineralization within the north-south trending Bug Lake Corridor has now been traced for at least 400 metres along strike and remains open in all directions. Revised schematic long and cross-sections and a drill/geology plan for the Martiniere gold system in the Bug Lake area are now available on the Company's website (www.balmoralresources.com) or by following the links below.
Long Section & Cross Section:
http://www.balmoralresources.com/s/Home.asp
Geology and Drilling Bug Lake:
While final results from a number of holes, 24 in total, remain pending from drilling in the Footwall, Bug Lake and ME-16/23 areas of the Martiniere Property, recent positive results from a number of gold bearing structures throughout the Property have provided shallow targets for immediate follow-up.
Drilling is expected to continue for approximately one month before a brief hiatus leading into an expanded winter 2012-13 drill program on the Martiniere Property and Detour Gold Trend land package.
Warrants
The Company reminds holders that there are common share purchase warrants, exercisable for one common share of the Company, which will expire November 9, 2012. The Company has recently received approximately $480,000 through the partial exercise of said warrants.
Quality Control
Mr. Darin Wagner (P.Geo.), President and CEO of the Company, is the non-independent qualified person for the technical disclosure contained in this news release. Mr. Wagner has supervised the work programs on the Martiniere Property, visited the property on multiple occasions, examined the drill cores from the majority of holes drilled to date on the Property, reviewed the results with the on-site project geologists and reviewed the available analytical and quality control results.
Balmoral has implemented a quality control program for all of its drill programs, to ensure best practice in the sampling and analysis of the drill core, which includes the insertion of blind blanks, duplicates and certified standards into sample stream. NQ sized drill core is saw cut with half of the drill core sampled at intervals based on geological criteria including lithology, visual mineralization and alteration. The remaining half of the core is stored on-site at the Company's Martiniere field camp in Central Quebec. Drill core samples are transported in sealed bags to ALS Minerals Val d'Or, Quebec analytical facilities. Gold analyses are obtained via industry standard fire assay with atomic absorption finish using 30 g aliquots. For samples returning greater than 5.00 g/t gold follow-up fire assay analysis with a gravimetric finish is completed. The Company has also requested that any samples returning greater than 10.00 g/t gold undergo screen metallic fire assay. Following receipt of assays visual analysis of mineralized intercepts is conducted and additional analysis may be requested to ensure the accurate representation of mineralized zones. ALS Minerals is ISO 9001:2008 certified and the Val d'Or facilities are ISO 17025 certified for gold analysis.
About Balmoral Resources Ltd. - www.balmoralresources.com
Balmoral is a Vancouver-based precious metal exploration and development company focused on district scale gold opportunities in North America. With a philosophy of creating value through the drill bit and with a focus on proven productive precious metal belts, Balmoral is following an established formula with a goal of maximizing shareholder value through discovery.
On behalf of the board of directors of
BALMORAL RESOURCES LTD.
Darin Wagner, President and CEO
http://balmoralresources.mwnewsroom.com/press-releases/balmoral-resumes-drilling-on-martiniere-property--tsx-venture-bar-201210050824278001
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http://tmx.quotemedia.com/article.php?newsid=54788121&qm_symbol=BAR
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