Balmoral Resources Ltd BALMF

Winter drilling complete?

[astrorbit]

According to the news release(feb15/2017)

Drilling is anticipated to continue through the end of March

March2017 presentation makes no mention of a RE.

9.2million left.

[chaney]

You're right no RE mentioned so maybe they will just continue drilling past end of March.

[shneps]

My understanding was they would possibly start on the RE and release this fall. If and probably only if they stop finding new areas of gold. This is the problem (if you can ever call it that) but everytime they believe they are on the final drill program before the RE they keep finding more. Particularly gold that will fall within the probable open pit shell. I believe by last count we were

[g4groovy]

@shneps: Would it be possible to point to the souce of the information pointing to the resource of 2-2.5 mln oz @ 4-5 g/t? Thanks

[shneps]

It came from two different sources. I'll have to see if I can get it back together. I'll work on it.

[shneps]

According to the news release this morning the first winter drill results should be out in the next several days. I was way off. Probably the nicest highlight of the release is copied below: 2016 HIGHLIGHTS On the Martiniere gold property exploration and delineation drilling continues to expand the numerous known deposits and zones of gold mineralization on the Property. In addition the 2016

[chaney]

It appears that BAR is still drilling which depends how you look at it,  could be a good or bad thing. I'm hoping they liked what they saw and are confirming it with more holes. From today's release. The Board of Directors has approved a minimum 25,000 metre drill program for 2017 which is underway with initial results anticipated from the shallow testing of the Bug South gold

[astrorbit]

In the technical report there was a budget of 4.5million for 19700M of drilling. BAR has $10million currently. The budget must of increased for 25000m If history once again REPEATS AGAIN financing in Sept/Oct. Will September 201* be a gamechanger?

[goodtoreadthis]

Barrick just sold 50% of a mine for almost a billion. Gold is up and nickel is up today. Bar is keeping it's head down and drilling with handsome g/t returns.  If our 25000 meters of drilling show real results, Barrick can buy 50% of us for almost a billion.  Our CEO said we hit 37 g/t at 700 meters at Bug Lake without one word more. With $400 mll in nickel in ground BAR should be

[astrorbit]

More color needed. The Veladero mine is located in the San Juan province of Argentina, on the highly prospective El Indo Belt, approximately 10 kilometers away from Barrick’s Pascua-Lama project. Veladero is located at elevations of between 4,000-4,850 meters above sea level, approximately 375 kilometers northwest of the city of San Juan. As of December 31, 2016, the mine had proven and

[chaney]

"of particular interest will be holes drilled to test for potential mineralization continuity between hole 3 and hole 237 to the east. If that work bears fruit, it could add a whole new complexion to the size and scope of Martiniere." Brien Lundin, Gold Newsletter (Jefferson Financial) (3/1/17) "Balmoral Resources Ltd. is following up on

[shneps]

I totally agree and feel the other extremely relevent location are the two new discoveries east of ME16 and ME20. If these stretch out, along strike, parallel to Bug North this can create significant impact values to an open pit resource estimate. This is the logical scenario for the zones to play out, let's hope Mother Nature plays along. Fingers crossed. Cheers

[goodtoreadthis]

GoldCorp just sold a mine in Mexico for $279 mil US and it becomes yet another major with a big stash of cash to use to buyout BAR.  Barrick and Goldcorp are two the names our CEO used when talking about majors buying developers.  If the next 25,000 meters of drilling show real promise the bidding war could begin JUN/JULY 2018