Business
Balmoral Resources Inc. (TSX:BAR) Letter From President Darin Wagner
Vancouver, Canada (ABN Newswire) - To Our Shareholders: With the calendar now showing 2016 I ...
About this update from Barranco Gold Mining Corp.
[{"type":"text","content":"Balmoral Resources Inc. (TSX:BAR) Letter From President Darin Wagner\nVancouver, Canada (ABN Newswire) - To Our Shareholders: With the calendar now showing 2016 I thought it appropriate to review Balmoral Resources Inc.'s (TSE:BAR) (OTCMKTS:BALMF) accomplishments over the past 12 months. As well I wanted to provide you with some guidance and observations on what promises to be an active and highly prospective year for your Company. As you are well aware, 2015 brought more challenges across the resource sector as global economic conditions continued to soften. Despite that, BAR made considerable progress on both of its primary assets. While the current share price does not reflect it, the turning of the calendar finds both the Grasset Nickel-Copper-PGE Zones and the Bug Lake Gold Zones at considerably more advanced stages of development than at the start of 2015. As well our work during 2015 continued to demonstrate the superb exploration potential of our Detour Trend Project in Quebec. At Grasset, the H3 and H1 nickel-copper-PGE deposits expanded significantly throughout the year. Drilling of the H3 deposit traced broad zones of mineralization to over 500 metres vertical depth, including the discovery of a new very high-grade footwall breccia sub-zone (see NR15-17; Nov. 16, 2015). Similar progress was made on the sub-parallel H1 deposit and at year end both deposits remained open to depth for further growth. The Company completed sufficient drilling above the 500 metre vertical level to begin preparation of an initial resource estimate for the Grasset discoveries. This initial resource estimate is currently slated to be released during the first quarter of 2016.In support of the initial resource, metallurgical testing of the H3 deposit was completed in late 2015 (See NR15-13; Sept. 30, 2015). The test work was extremely positive, returning results similar to, or better than, a number of globally significant nickel producers using a simple and conventional flowsheet. The results significantly enhance the H3 deposit's potential development parameters and were received well by a number of participants in the nickel sector. At Martiniere, we continued to delineate and expand the Bug Lake Gold Trend (\"BLT\"), with our drill program returning some of the strongest gold intercepts to date from this large system (See NR15-05 and 15-06;...