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Balmoral Resources Ltd is an exploration stage mining exploration and development company. It is engaged in the acquisition and exploration of gold and base metal properties in Canada. The principal focus of the company's exploration activities are the properties comprising its Detour Trend Project in Quebec.

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Balmoral Resources Ltd > Area 52 program

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Post by Hawaiii on Aug 30, 2019 4:35am

Area 52 program

Going to be a very long, drawn out process. Phase one began July 18, completed August 26. Four holes drilled, total combined depth 2148 metres.

Area 52 is permitted for 21 drill sites.

Based on simple math, the total suite of drilling phases will take 204 days. Factoring in Christmas, etc, the Area 52 drilling program should be completed by the end of February, 2020. Unless it gets abandoned for some obscure reason that never gets explained. Sounds a lot like Martiniere and Grasset at this point.

Current treasury cannot support this program, let alone the planned summer/fall exploration activities. Expect financing drive to begin mid-to-late September. Hat in hand - gfys Johnny.

Saying it for years - the smoke and mirrors bullsh*t continues.

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Comment by RookieInv on Aug 30, 2019 11:50am

Does anyone find it concerning that all they basically stated in their NR is that in 3 of the 4 holes were observed to have mineralized zones correlating well with the geological setting of area 51? They sent over 1400 samples to the lab and not one mention of visible gold. I realize we will have to wait for the results but I was hoping they would have indicated they had visible gold in at least ...more

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Comment by Chaulkdust on Aug 30, 2019 2:36pm

I would not be overly concerned in that BAR rarely if ever has specified VG in holes. In fact I have asked JF about this already at BAR and he would not comment on it since it never appeared in the press release. VG is an indicator but may not mean much about the actually gold content of the hole. Here is a method I ran across to evaluate drill holes which I posted at several sites but not here ...more

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Comment by astrorbit on Aug 30, 2019 3:35pm

Without context VG just means there is gold. 1800m is minimal.The path forward still relies on other companies. More Financing,more drilling. Wm is not exactly a cash juggernaut and has no facilities.mill.It May have to be a major that consolidates the area into a major mine. Nickel at $9 would make grasset more valuable but still no offers. Sit and wait.

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Comment by diabase1 on Aug 30, 2019 6:29pm

Heh Chalk: as I see it, as goes copper, so goes gold!! The higher Cu, the higher Au. Chalcopyrite is an indicator for the gold, as it states in one of WM's news releases. Will BAR mention Cu in their next press release?????????

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