Balmoral Resources Ltd BALMF

No Killer Intersections In Latest PR

[AlternativeView]

No real surprises here. They hit their zones and grades appear to be as expected.  Certainly no better than the previous holes drilled the the same vicinity.

Remember that the recent Grasset deep drilling was started before the new komatiite hosted discovery 7 km NW.  SO I doubt we will see any more of this deep Grasset drilling in the next few years.

THis PR is out a bit sooner than I expected.  Leaves me wondering what Darin plans to use for PDAC presentation materials.  Anyone know if they are still drilling, at the moment?

[diabase1]

Additional drilling to further expand the H3 and H1 Zones of the deposit, via wedging from a pilot hole completed during this program (see below), is planned to commence later in the first quarter. Drill hole GR-18-102A, the pilot hole for planned expansion drilling of the H3 Zone of the deposit between 500 and 700 metres vertical depth, successfully intersected the lower, H1 Zone of the Grasset

[AlternativeView]

I suppose a few inexpensive wedge holes might make sense.  As always, the issue remains capital preservation.  Bang for your buck. And I just don't think a bunch of deep, expensive holes are in the cards, at this point.

[chaney]

AV, you say PR out sooner than you expected? Could it be that maybe they have a bigger and better announcement and it has nothing to do with drilling? I don't have any insider news but just guessing.

[AlternativeView]

My first thought was that they might have some additional assays ready from new komatiite nickel discovery NW up the GUC.  That is why I asked if anyone knows if drilling has continued there.  Foulkes did not answer his phone this morning. If not more assays, then the only other options would be that Wagner will get on stage at PDAC with the same presentation used at VRIC, or, they

[diabase1]

AV: I'm going to throw one name out there. First, I doubt that either Minara (Glencore) or BHP would be interested. Project too small. And why do you think it could be an Aussie company. The overlay of the GUC belt over the Kambalda district was just for comparison I would think. How about Platinum Group Metals? DW worked for them, along with Michael Jones, who also was a co-founder of West

[AlternativeView]

You are probably right.  This afternoon Foulkes confirmed on the telephone that they intend to pursue the next holes into the GUC on their own. The project might look small, but the exploration area is pretty large maybe 500 meters x 7 km.  And lava flows twist and turn and can be stacked.  I just don't think BAR is up to doing a complete job on their own.

[AlternativeView]

I might have stretched a bit to get to the supposed Aussie connection. What led me there was that BAR must have been talking to some company with exposure to Kambalda, for Foulkes to come up with the statement, "If this were us/here, we would have six rigs drilling on it already."  Maybe I jumped to the wrong conclusion on this.