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Balmoral Resources Ltd. (BALMF) Releases Initial Resource Estimate For Grasset Deposit - Detour Trend Project
Vancouver, Canada (ABN Newswire) - Balmoral Resources Ltd. ("Balmoral" or the "Company") (TSE...
About this update from Barranco Gold Mining Corp.
[{"type":"text","content":"Balmoral Resources Ltd. (BALMF) Releases Initial Resource Estimate For Grasset Deposit - Detour Trend Project\nVancouver, Canada (ABN Newswire) - Balmoral Resources Ltd. (\"Balmoral\" or the \"Company\") (TSE:BAR) (OTCMKTS:BALMF) today reported the initial resource estimate for the Company's Grasset Ni-Cu-Co-PGE deposit. The Grasset deposit is located on the Company's wholly owned and royalty free Grasset Property, part of the Detour Trend Project in West-Central Quebec. The Grasset deposit is comprised of the sub-parallel H3 and H1 zones The H3 zone has been intersected from the bedrock surface to a depth of approximately 550 vertical metres and remains open below that level for further expansion. The H1 zone, targeted by considerably less drilling to date, has been intersected for over 1,000 metres along strike and to a vertical depth of 450 metres. It remains open along strike to the northwest and to depth across its entire strike length. INITIAL RESOURCE ESTIMATE The initial independent resource estimate for the Grasset deposit has been prepared by Mr. Pierre-Luc Richard (P.Geo., M.Sc.) and Mr. Carl Pelletier (P.Geo., B.Sc.) of InnovExplo Inc. and is summarized below. Mr. Richard and Mr. Pelletier are independent Qualified Persons pursuant to NI 43-101. At a 1.00% NiEq cutoff grade the H3 + H1 zones contain a combined resource of: Indicated Resource - 3.45 million tonnes @ 1.79% NiEq = 1.56% Nickel, 0.17% Copper, 0.03% Cobalt, 0.34 g/t Platinum and 0.84 g/t Palladium; which equates to 136,279,000 nickel equivalent lbs Inferred Resource - 91,100 tonnes @ 1.19% NiEq = 1.06% Nickel, 0.11% Copper, 0.02% Cobalt, 0.20 g/t Platinum and 0.48 g/t Palladium; which equates to 2,393,900 nickel equivalent lbs - 99% of the Indicated Resource is contained within the H3 Zone - 97.5% of the estimated resources are in the Indicated Category \"The initial resource estimate focusses on the higher-grade central core of the Grasset deposit, which should provide the clearest path to delineation of a potentially viable project. At this tonnage and grade it would represent an opportunity similar in scale (tonnage and metal equivalent grade) to the currently producing Bracemac-McLeod base metal mine 55 kilometres to the east, or to the original (pre-Thunder Creek) Timmins West gold mine which a number of our shareholders will be familiar with\" said ...