Balmoral Resources (OTC Other: BALMF; TSX-V: BAR) has finalized an option agreement with GTA Resources on the Company’s Northshore Property, the terms of which allow GTA Resources to acquire up to a 70% interest in the property. In anticipation of the option agreement, GTA Resources conducted a site visit as part of its due diligence review, which included the collection of surface grab samples from various locations. Several of these grab samples were collected from two northeast trending quartz-carbonate vein systems located near the intersection of the southeast-trending “Afric Zone.” All of these latter samples returned “bonanza grade” gold mineralization with results ranging from 19.70 g/t gold (0.575 oz/t) to a high of 7,520.91 g/t gold (219.42 oz/t). A nearby grab sample from the “Afric Zone” returned a value of 20.811 g/t gold (0.607 oz/t).
Balmoral’s Northshore Property Returns Grab Samples of Up to 7,520 g/t Gold, Option Agreement Finalized