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balmoral resources ltd (BALMF) Snapshot

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balmoral resources ltd (BALMF) Details

Balmoral Resources Ltd. engages in the acquisition, exploration, and development of gold properties in Canada. The company principally focuses on the Detour Gold Trend Project, which comprises various properties controlling approximately 82 kilometers of the gold-bearing Sunday Lake (Detour) Deformation Zone in Quebec. Balmoral Resources Ltd. is headquartered in Vancouver, Canada.

8 Employees
Last Reported Date: 03/26/14

balmoral resources ltd (BALMF) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: C$80.0K
Compensation as of Fiscal Year 2012.

balmoral resources ltd (BALMF) Key Developments

Balmoral Resources Ltd. Resumes Drill Testing of Grasset Ni-Cu-PGE Discovery, Detour Gold Trend Project, Quebec

Balmoral Resources Ltd. announced that it has completed the field component of its large-loop surface and borehole EM surveys on the company's Grasset Property and has resumed drill testing of the Grasset Ni-Cu-PGE discovery. This extensive zone of nickel-platinum-palladium (+/-copper) mineralization has been intersected over a 700 metre strike length in broadly spaced drilling and remains open in all directions. Balmoral announced the discovery of a high-grade massive sulphide portion of the system on March 4, 2014 with hole GR-14-17 returning 3.69% nickel, 0.23% copper, 1.23 g/t palladium and 0.53 g/t platinum over 1.46 metres within an 11.41 metre wide mineralized interval. The company has since completed borehole EM (down-hole electromagnetic survey) and large loop surface EM surveys in the discovery area in order to target the highly conductive, massive sulphide portions of this large system. Preliminary results from these surveys have outlined a number of high priority anomalies which exhibit characteristics similar to the massive sulphide intercept in hole GR-14-17, as well as providing additional information concerning the plunge/dip of the intercept in hole GR-14-17. The first of these anomalies to be targeted is located 440 metres NW of hole GR-14-17 (and 140 metres NW of hole GR-14-16) in an untested area along strike from the known zone of mineralization. This anomaly demonstrates strong conductivity, considerable strike/depth extent and appears to be located at/near the base of the host ultramafic intrusion, the most favourable location for development of massive sulphides within the system. This will be followed by additional testing in the GR-14-17 area and of other conductivity targets once the final geophysical model for that area has been received.

Balmoral Resources Ltd. Provides Update on Grasset Property in Quebec

Balmoral Resources Ltd. confirmed the presence of an extensive zone of nickel-platinum-palladium mineralization on its wholly owned Grasset Property in Quebec. Results include the first massive sulphide intercept from the property, located at the core of an 11.41 metre mineralized interval, which returned 3.69% nickel, 0.23% copper, 1.23 g/t palladium and 0.53 g/t platinum over 1.46 metres. Ni-Cu-PGE mineralization has now been intersected for over 700 metres along strike in a northwest direction from discovery hole GR-12-09. The mineralized zone remains open in all directions. The Grasset Property is part of the company's Detour Gold Trend Project. The Grasset Ni-Cu-PGE discovery is located approximately 40 km east of Balmoral's high-grade Martiniere gold system where drilling is on-going. Reported drill intercepts are not true widths. At this time there is insufficient data with respect to the shape of the mineralization to calculate true orientations in space. Drill hole GR-14-16 was collared approximately 700 metres northwest of the discovery intercept in hole GR-12-09 and intersected disseminated pyrrhotite-pentlandite-chalcopyrite at the base of the ultramafic sequence. GR-14-17 was collared between the two holes, approximately 400 metres northwest of the discovery intercept. It intersected an 11.41 metre wide mineralized interval consisting of disseminated to semi-massive sulphides, cored by 1.46 metres of massive pyrrhotite and pendlandite. Intervals from holes GR-14-16 and GR-14-17 which displayed abundant visible pentlandite were rush assayed. Assay results from the remainder of these two holes are pending.

Balmoral Resources Ltd Updates Progress on Northshore Property, Ontari

Balmoral Resources Ltd. announced that an initial NI43-101 resource estimate is currently being completed for the Afric Gold Zone on the company's Northshore Property in Ontario. Drilling by GTA under an option agreement with Balmoral, and by historic operators, has outlined the Afric Gold Zone over an area of 350 x 500 metres and to a vertical depth of 350 metres below which it remains open for expansion. The Afric Gold Zone exhibits a high grade core and broad, lower grade halo. Recent drilling has also confirmed the presence of other high- grade vein systems on the Property. GTA has indicated to the Company that the resource estimate should be completed during the first quarter or early second quarter of 2014.


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