Excellent drill results at Martiniere West Balmoral Intersects 10.62 g/t Gold Over 21.44 Metres at Martiniere West, Detour Gold Trend, Quebec (ccnm)
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 18, 2013) - Balmoral Resources Ltd. ("Balmoral" or the "Company") (TSX:BAR)(OTCQX:BALMF) today reported the highest grade gold intercept to date from the Martiniere West Gold Zone on its wholly owned Detour Gold Trend Project in Quebec. Hole MDW-13-88, testing a revised geological model at shallow depths within the central portion of the Martiniere West Zone, returned an intercept of 10.62 g/t gold over 21.44 metres, including a bonanza grade core intercept of 108.00 g/t gold over 1.95 metres. This intercept is nearly double the grade of the highest grade intercept from previous drilling testing the West Zone (67.76 g/t gold over 1.36 metres). The bonanza grade intercept is surrounded by a broad mantle of pyrite-sericite alteration, silica flooding and anomalous gold mineralization over a down-hole width of 21.44 metres in keeping with the majority of Martiniere West Zone intercepts.
The Company also reported results from 5 holes drilled along the SW Extension of the Martiniere West Zone which further confirm the presence of multiple zones/occurrences of high-grade gold mineralization within the Martiniere gabbro complex. Highlights include intercepts of 5.01 g/t gold over 3.57 metres and 8.44 g/t gold over 1.82 metres along with the identification of new gold bearing structures (see Table 2 below).
"While the price of gold may have retreated from historic highs, intercepts of high-grade gold mineralization like today's result from MDW-13-88 don't demonstrate a great deal of "price sensitivity" but do continue to demonstrate the potential of the gold system at Martiniere," said Darin Wagner, President and CEO of Balmoral. "The emergence of new shallow high-grade gold targets along the Southwest Extension provides additional opportunities for growth as we head into 2014."
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