BALMORAL INTERSECTS 4.24 G/T GOLD OVER 22.59 METRES AT MARTINIERE WEST-EXPANDS HIGH GRADE ZONE TO OVER 380 METRES ALONG STRIKE
Balmoral drills 22.5 m of 4.2 g/t Au at Martiniere
Ticker Symbol: C:BAR
Balmoral drills 22.5 m of 4.2 g/t Au at Martiniere
Balmoral Resources Ltd (C:BAR)
Shares Issued 65,837,555
Last Close 11/29/2011
.79
Wednesday November 30 2011 - News Release
Mr. Darin Wagner reports
BALMORAL INTERSECTS 4.24 G/T GOLD OVER 22.59 METRES AT MARTINIERE WEST-EXPANDS HIGH GRADE ZONE TO OVER 380 METRES ALONG STRIKE
Balmoral Resources Ltd. today released additional results from the company's Martiniere West gold zone fall 2011 expansion drilling program. Results were highlighted by hole MDW-11-41 which returned a high-grade core intercept of 4.24 g/t gold over 22.59 metres including a Main sub-zone intercept of 29.02 g/t gold over 1.39 metres. This high-grade core is located within a broadly mineralized zone which returned 0.84 g/t gold over 164.00 metres - the broadest gold mineralized intercept to date from the West Zone.
Drilling has now extended the Martiniere West Zone to 380 metres along strike and the Zone remains open in all directions beyond the extent of current and historic drilling. The 2012 winter drill program, anticipated to commence in January, will focus on expanding the near surface and depth extent of the West Zone with a goal of completing an initial resource estimate for the high-grade West Zone in mid-2012.
Drilling has also intersected a previously unrecognized, relatively shallow dipping, gold-bearing structure - the Cross sub-zone - which appears to cross-cut the West Zone in the vicinity of holes MDW-11-41/41a. The intersection of these two structures appears to have resulted in a significant increase in the thickness of the high-grade core of the Zone in this area and indicates potential for a broader, high-grade plunging chute along the plane of intersection of these two structures. Drilling has also identified, in hole MDW-11-38, the deepest of the holes reported, a potential extension of the Deep Footwall Zone initially intersected in hole MDW-11-29 (see NR11-28, Nov. 21, 2011). A revised long section and plan map of the West Zone has been posted on the Company's website at www.balmoralresources.com.
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Hole From To Interval(i) Gold
Number (Metres) (Metres) (Metres) (g/t) Zone
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MDW-11-38 37.80 59.00 21.20 1.25
including 43.50 44.00 0.65 14.65 HW1
and including 53.30 54.40 1.10 8.81 Main
and including 58.00 59.00 1.00 4.88 FW1
85.95 99.00 13.05 0.93
including 89.25 92.00 2.75 3.25 FW2
160.00 194.00 34.00 0.34 Deep FW
including 170.00 170.77 0.77 6.25
223.20 255.96 23.96 0.30 ?
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MDW-11-39 34.71 35.15 0.44 6.04 HW1
43.44 179.33 135.89 0.34
including 45.11 47.50 2.39 2.43 Main
and including 55.63 57.21 1.58 2.37 FW1
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MDW-11-40 38.4 39.37 0.97 4.4 HW2
51.83 89.50 37.67 0.24
including 85.00 86.00 1.00 1.61 Main
132.49 132.92 0.43 3.01 FW2
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MDW-11-41 12.30 45.11 (EOH) 32.81 1.12
including 36.00 37.93 1.93 5.19 HW2
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Hole Lost Above Main Zone
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MDW-11-41a 13.00 177.00 (EOH) 164.00 0.84
including 59.82 81.93 22.59 4.24
which includes 62.98 66.21 3.23 9.48 HW1
and 72.84 73.98 1.14 4.91
and 80.54 81.93 1.39 29.02 Main
and including 148.50 150.00 1.50 4.66 FW2
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MDW-11-42 10.00 45.27 35.27 0.35
including 10.00 11.50 1.50 3.88 HW3
59.86 81.12 21.26 0.84 Cross
including 73.69 74.10 0.41 21.00
119.73 145.3 25.57 0.87
including 121.23 121.85 0.62 4.56 HW1
and including 140.01 144.17 4.16 3.17 Main
which includes 141.81 142.61 0.80 9.30
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MDW-11-43 64.63 85.00 20.37 0.55 Cross
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Hole Lost Above Main Zone
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(i) West Zone Intercepts highlighted; insufficient drilling has been
completed to date to determine the true thickness of the mineralized
zones - reported intercepts are interpreted to represent 60-90% of true
thickness.
Balmoral's Martiniere Property is part of the Company's Detour Gold Trend Project, which extends for 82 kilometres along the Detour-Sunday Lake Deformation Zone in central Quebec. In addition to the Martiniere gold discoveries, the Project includes the near-surface Lynx and Rambo Gold Zones on the Detour East Property, the high-grade Fenelon Gold Zone and the recent Grasset Gold Discovery. Drilling was recently completed on the Detour East Property which is located adjacent to the Detour Gold mine development project in neighboring Ontario.
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 core from a number of the holes summarized in this release and reviewed the 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 securely stored on-site at the Company's Fenelon camp in central Quebec. Drill core samples are transported in sealed bags to ALS-Chemex's 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 analysis fire assay 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 insure the accurate representation of mineralized zones. ALS-Chemex is an ISO 9001-200 and ISO 17025 certified laboratory.
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