RE: News out....
Balmoral Resources Ltd (C-BAR) - News Release
Balmoral drills 19.7 m of 7.94 g/t Au at Martiniere
2012-11-09 08:27 ET - News Release
Shares issued 73,723,888
BAR Close 2012-11-08 C$ 0.96
Mr. Darin Wagner reports
BALMORAL INTERSECTS 7.94 G/T GOLD OVER 19.70 METRES BL FOOTWALL ZONE, MARTINIERE PROPERTY, QUEBEC
Balmoral Resources Ltd. has released results from the first three of 20 holes drilled in the Bug Lake area of its Martiniere property during the recently completed fall 2012 drill program. Results include further confirmation of the very high grade nature of the Bug Lake Footwall Zone. Hole MDE-12-65 returned anomalous gold mineralization over an interval of 81.00 metres, including a high-grade Footwall intercept of 7.94 g/t gold over 19.70 metres. As with other previous intercepts from the Footwall Zone, this broader interval contains a sulphide-rich core which returned 21.18 g/t gold (0.62 oz/ton) over 6.45 metres (21.16 feet). The core of this intercept occurs at approximately 50 metres vertical depth.
"With a shallow, high value target like the Footwall Zone continuing to expand in proximity to several other high-grade zones of gold mineralization, today's results further demonstrate the potential of the Martiniere gold system," said Darin Wagner, President and CEO of Balmoral. "While others are attempting to add, or access, high-grade ounces at considerable depth we are doing so in the near surface, on multiple fronts, in one of the best mining jurisdictions on the planet."
The Footwall Zone is one of three high-grade gold zones which occur within the 100+ metre wide Bug Lake Fault corridor on the Company's Martiniere Property in Quebec. The Martiniere Property forms part of Balmoral's 82 kilometre long Detour Gold Trend Project located along the Sunday Lake deformation zone in Central Quebec adjacent to the developing Detour Gold deposit in Ontario.
Gold Results Hole From To Interval(i) Gold Zone Number (Metres) (Metres) (Metres) (g/t) MDE-12-64 30.21 51.85 21.64 0.25 ? MDE-12-65 26.00 43.20 17.20 2.12 ? including 38.00 41.30 3.30 4.66 60.55 80.25 19.70 7.94 Footwall including 60.55 67.00 6.45 21.18 " MDE-12-66 20.15(1) 57.90 37.75 0.58 ? including 56.85 57.90 1.05 3.48 " 73.55 78.50 4.95 0.45 Footwall? (i) Reported drill intercepts are not true widths. At this time there is insufficient data with respect to the shape of the mineralization to calculate true orientations in space. (1) Collared into mineralized zone
Holes MDE-12-64 to 66 were collared from the same location, in the footwall east of the Bug Lake Zone, and were drilled at down hole angles of -45, -56 and -67 degrees. The intersection point of the Footwall Zone in hole MDE-12-65 is at approximately 50 metres vertical depth below surface and approximately 25 metres above/12 metres north of previously released hole MDE-12-63 (22.89 g/t gold over 4.10 metres, see NR12-29, October 31, 2012). Drilling continues to indicate that the very high-grade core of the Footwall Zone forms a moderate to steeply plunging body consistent with the typical geometry of high-grade gold zones in the Abitibi.
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 and/or photographs from the holes summarized in this release, discussed and reviewed the results with senior on-site geological staff and reviewed the available 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 stored on-site at the Company's Martiniere field camp in Central Quebec. Drill core samples are transported in sealed bags to ALS Minerals 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 fire assay analysis 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 ensure the accurate representation of mineralized zones. ALS Minerals is ISO 9001:2008 certified and the Val d'Or facilities are ISO 17025 certified for gold analysis.
We seek Safe Harbor.