Balmoral Resources (TSX-V: BAR) has entered into a Letter of Intent with Ontario based GTA Resources and Mining Inc. whereby GTA has, subject to satisfactory results of final technical due diligence by GTA, been granted the exclusive right to enter into an Option Agreement to acquire from Balmoral up to a 70% interest in Balmoral’s Northshore Gold Property located in the Hemlo-Schreiber greentstone belt of western Ontario.
According to Darin Wagner, President and CEO of Balmoral, “We are pleased to be able to reach an agreement with an experienced and technically sound group like GTA who have first-hand experience on the Northshore Property. This should enable them to move the project forward rapidly. This will allow Balmoral to concentrate on our recent gold discoveries on the Detour Gold Trend in Quebec, where we anticipate the resumption of drilling within the next 7-10 days, while at the same time allowing our shareholders to be exposed to the discovery and advancement opportunities at Northshore.”
