Balmoral Resources (OTCQX: BALMF; TSX-V: BAR) has assays back on the first four drill holes of the winter 2012 drill program. Follow-up testing of the ME-16 discovery, announced December 5, 2011 (NR11-31), returned an intercept of 9.30 metres grading 11.42 g/t gold from drill hole MDE-12-20. This compares favourably with discovery hole MDE-11-16 which returned 9.33 metres grading 12.93 g/t gold. The reported intercept from hole MDE-12-20 includes a bonanza grade section which returned 41.22 g/t gold over a 2.50 metre interval.
According to Darin Wagner, President and CEO of Balmoral, “The initial results from the Martiniere East – ME-16 drilling confirm the presence of another high-grade gold bearing feature on the Martiniere Property. Located approximately one kilometre east of the Martiniere West Zone, the ME-16 area may have the potential to add additional high-grade, near surface ounces to the expanding discovery at Martiniere West.”