Balmoral Reports Gold Recoveries of 99.5% and 96.3% Balmoral Reports Gold Recoveries of 99.5% and 96.3% from Initial Metallurgical Test Work at Northshore Property, Ontario
(Vancouver, August 29, 2016) Balmoral Resources Ltd. (“Balmoral” or the “Company”) (TSX: BAR; OTCQX: BALMF) has received, from joint venture partner GTA Resources and Mining Inc. (“GTA”; TSXV:GTA), the results from preliminary metallurgical testing of two composite samples from the Northshore Property, in Ontario. Results from standard bottle roll tests for the two samples, one from the core of the Afric Zone and one from the high-grade Audney vein system, returned peak gold recoveries of 96.3% and 99.5% respectively.
The preliminary metallurgical work was performed by Activation Labs in Thunder Bay, Ontario and consisted of standard cyanide bottle roll testing with atomic absorption analysis for gold. Sample “A”, from the central core of the Afric Zone weighed 43.90 kilograms and had an assayed head grade varying from 2.65 to 2.93 g/t gold. Sample “D”, from the high-grade Audney vein system (see NR16-17, August 22, 2016 for recent drill results), weighed 9.60 kilograms and had an assayed head grade varying from 10.90 to 11.60 g/t gold.
Jennifer Steyn, Metallurgy Manager for Activation Labs, stated “These results indicate that the mineralization is free milling and excellent recoveries can be made using conventional cyanidation”. A full version of the “Gold Cyanidation Report” can be found on the company website at www.balmoralresources.com
The two samples were composited from assay reject samples from the recently completed phase of drilling on the property which were split and pulverized to 95% passing 105 micron prior to testing. Peak recoveries were achieved after 24 hours for sample D at 99.5%. Sample A reached 94.8% recoveries in 24 hours, peaking at 96.3% after 48 hours. Cyanide and lime consumption during the tests are considered by Activation Labs to be “fairly average” and that comparable recoveries are also likely achievable using a lower initial/maintained cyanide consumption.
GTA, as operator of the Northshore Property, is currently evaluating the near surface potential of the Afric Gold Zone on the Northshore Property. The Company has been advised that GTA anticipates resuming the current drill program on the Property in early September and that it should be completed within one month of commencement.
The Northshore Property is a joint venture between Balmoral and GTA. GTA is the current operator of the joint venture and holds a 51.4% interest in the Property. In addition to its 48.6% interest in the Northshore Property Balmoral currently holds approximately 7.65% of the issued and outstanding shares of GTA.