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.”
Balmoral Exploration Update
March 19, 2012Balmoral Resources (OTCQX: BALMF; TSX-V: BAR) has four drills active. Two drills are currently expanding high-grade gold discoveries on the Martiniere Gold Property and a third is conducting follow-up drilling and testing additional targets on the Grasset Gold Property. Both properties are part of the Company’s 85 kilometre long Detour Gold Trend Project which adjoins the Detour Gold development project. The fourth drilling, being operated in conjunction with GTA Resources and Mining, has recently commenced drilling on the Company’s Northshore Gold Property in Ontario following up on positive results released March 12, 2012 (NR12-06). Initial results from the Detour Gold Trend winter drill campaign are anticipated within the next 3-4 weeks.
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