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Balmoral Resources (BALMF) Intersects 216 g/t Gold over 0.76m in New Discovery; Grasset Trend, Quebec
Vancouver, Canada (ABN Newswire) - Balmoral Resources Ltd. ("Balmoral" or the "Company") (TSE...
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[{"type":"text","content":"Balmoral Resources (BALMF) Intersects 216 g/t Gold over 0.76m in New Discovery; Grasset Trend, Quebec\nVancouver, Canada (ABN Newswire) - Balmoral Resources Ltd. (\"Balmoral\" or the \"Company\") (TSE:BAR) (OTCMKTS:BALMF) reports results from six exploration holes drilled along the Grasset Trend on its wholly owned Fenelon and Jeremie Properties in Quebec. Two of three holes drilled to test geophysical anomalies along the southern segment of the Grasset Ultramafic Complex (\"GUC\"), host to Balmoral's Horizon 3 Ni-Cu-PGE discovery, successful intersected nickel-copper-PGE bearing sulphide mineralization. The new discoveries are located 3.3 and 4.6 kilometres northwest of the Horizon 3 discovery (see Figure 1 in link below) and southeast of the two Ni-Cu-PGE discoveries announced on April 9, 2015 (see NR15-04).In addition hole FAB-15-50 intersected 216 g/t (6.30 oz/t) gold over 0.76 metres in a newly discovered shear zone. The shear zone appears to be later than and cuts through a nickel-copper-PGE mineralized interval located at the base of the ultramafic sequence in this hole. The mineralized structure hosts abundant visible gold mineralization over a 10-15 centimetre downhole interval. It occurs in a setting similar to the nearby high-grade Fenelon gold zone which is also owned by the Company. Balmoral also completed two drill holes on the Jeremie Property which is located at the northern end of the Grasset Trend. Both holes tested airborne electromagnetic (\"EM\") anomalies associated with secondary magnetic highs outside the principal trend of the GUC. Hole JER-15-02 intersected two intervals of anomalous base metal (copper, zinc, lead) mineralization of potential VMS affinity within a sequence of volcanic and sedimentary lithologies. The host sequence is characterized by stacked sulphide-bearing horizons which are located toward the northern end of a 1,300 metre long, multi-component EM conductor which had not been previously tested. These intercepts, and similar results from historic drilling to the south, continue to suggest potential for VMS base metal mineralization within the host sequence to the Grasset Ultramafic Complex. \"Drilling continues to confirm the presence of nickel sulphide mineralization and significant volumes of prospective ultramafic host rocks throughout the Grasset Ultramafic Complex, supporting the ...