Drilling on Northshore again!Balmoral Reports Resumption of Drill Program on Northshore Property, Ontario (ccnm)
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 23, 2013) - Balmoral Resources Ltd.("Balmoral" or the "Company") (TSX:BAR)(OTCQX:BALMF) has been advised by GTA Resources and Mining Inc. ("GTA") (TSX VENTURE:GTA) that drill testing is set to resume on the Company's Northshore Property located in the Hemlo-Schreiber Greenstone Belt in Ontario. The current program will consist of approximately 1,000 metres of drilling, targeting both the Afric Gold Zone and recently discovered high-grade gold mineralization located between the Afric and the former producing Northshore Gold Mine on the Property.
To-date, drilling by GTA has principally focused on the Afric Gold Zone, which has been outlined over an area of 500 x 350 metres and to a vertical depth of 350 metres, remaining open to depth and to the northeast. The most recently completed phase of drilling discovered a new, near surface high-grade zone of gold mineralization which returned an average grade of 5.23 g/t gold over 6.00 metres at a vertical depth of less than 15 metres, including 19.20 g/t gold over 1.50 metres (See NR13-16, July 18, 2013). This new discovery is currently interpreted to parallel the Northshore vein which was the focus of historic high-grade gold production on the Property.
Located immediately south of the town of Schreiber, Ontario, the Northshore Property is currently 100% owned by Balmoral and under option to GTA. GTA can earn an initial 51% interest in the Property under the terms of an option agreement between the companies (see News Release NR11-17; July 27, 2011). Balmoral currently controls 11.4% of the issued and outstanding common shares of GTA.
The planning, execution and monitoring of GTA's exploration programs on the Northshore Property are under the supervision of Mr. Robert (Bob) Duess, P. Geo. (Ontario), VP Exploration of GTA. Mr. Duess is a qualified person as defined by National Instrument 43-101 and is also the Qualified Person for this release. Mr. Duess has supervised the work programs on the Northshore Property, supervised the collection of the samples and drill core described herein and reviewed the assays and QA/QC data.
Mr. Duess has also reviewed and approved this release.
About Balmoral Resources Ltd. - www.balmoralresources.com
Balmoral is a Vancouver-based precious metal exploration and development company focused on delineation of a series of high-grade gold discoveries on its wholly owned Detour Gold Trend Project located in Quebec, Canada. 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 the discovery and definition of high-grade gold assets.
On behalf of the board of directors of
BALMORAL RESOURCES LTD.
Darin Wagner, President and CEO