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balmoral resources ltd (BAR) Details

Balmoral Resources Ltd., an exploration stage company, acquires, explores, and develops mineral properties in Canada. It primarily explores for gold metal deposits. The company holds interests in various properties in Quebec and Ontario, Canada. Its principal properties include the Detour Gold Trend project, which comprises various properties controlling approximately 82 kilometers of the gold-bearing Sunday Lake (Detour) Deformation Zone in Quebec; and Martinière property that consists of 314 mining claims covering approximately 8,281.4 hectares situated in the Townships of La Martiniere, Martigny, and Lanouiller, Quebec. The company was formerly known as Great Southern Enterprises Corp. and changed its name to Balmoral Resources Ltd. in March 2010. Balmoral Resources Ltd. was incorporated in 1983 and is headquartered in Vancouver, Canada.

8 Employees
Last Reported Date: 03/26/14
Founded in 1983

balmoral resources ltd (BAR) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: C$101.7K
Chief Financial Officer
Total Annual Compensation: --
Corporate Secretary
Total Annual Compensation: C$84.6K
Vice President of Exploration
Total Annual Compensation: C$160.9K
Compensation as of Fiscal Year 2013.

balmoral resources ltd (BAR) Key Developments

Balmoral Resources Ltd Presents at Denver Gold Forum, Sep-14-2014 05:00 PM

Balmoral Resources Ltd Presents at Denver Gold Forum, Sep-14-2014 05:00 PM. Venue: Hyatt Regency, 650 15th Street, Denver, CO 80202, United States.

Balmoral Resources Ltd. Provides Exploration Update in Detour Gold Trend Project in Quebec

Balmoral Resources Ltd. provided an update on exploration activities on its Detour Gold Trend Project in Quebec. Drilling continues on the Project with two drills. Results from 40 holes remain pending and are anticipated over the next several weeks. Drill testing of the high-grade Horizon 3 nickel-copper-PGE discovery on the company's Grasset Property is on-going. One drill is currently active with a second drill to be added for the remainder of the fall drill season following completion of the initial phase of testing of the Lac Hugo exploration target. Drilling continues to focus on expansion of the known zone to depth and to the northwest at nominal 50 metre pierce point spacings. To date, the company has completed 26 holes through Horizon 3 of the Grasset Ultramafic Complex ("GUC"), which hosts high-grade nickel-copper PGE mineralization, with results from 17 holes currently pending. While the majority of the pending holes have solely targeted Horizon 3, one hole (GR-14-49) has been extended through the GUC to continue to evaluate the potential of Horizon 1 to host net-textured to massive sulphide mineralization similar to that observed on Horizon 3. The company currently anticipates completing an additional 15-20 hole at Grasset prior to the end of the fall drill season. To date, strongly disseminated to net-textured sulphide mineralization has been intersected on Horizon 3 for approximately 160 metres along strike and to an approximate vertical depth of 270 metres. The mineralized zone remains open to depth and to the northwest. The company's interpretation of results to date suggests that Horizon 3 projects through the upper mineralized intercepts in holes GR-14-22 and 23. If confirmed by the current drill program, this would extend the known strike extent of nickel-copper-PGE mineralization along Horizon 3 to over 350 metres with it remaining open ended to depth and to the northwest. In addition to the targeted nickel-copper-PGE mineralization, the company has recently intersected a visible gold-bearing quartz-carbonate vein system in the hanging wall to Horizon 3. The extent of this newly discovered system is unknown and a decision on follow-up testing will be made following receipt of pending assay results. Downhole EM surveying of the outer fringe of holes completed to date has continued and several strongly conductive features have recently been identified proximal to the deepest drill holes completed to date. The down-hole conductors appear to correlate well with the projected extensions of the Horizon 3 nickel zone. The airborne geophysical survey of the GUC has now been completed and Balmoral anticipates receipt of the final geophysical data and interpretations within the next 4-6 weeks. Roughly 2,400 line kilometres of surveying were completed. Results of the airborne survey will be used to explore for additional zones of nickel-copper-PGE mineralization within the GUC, as well as to aid in the exploration for gold and other styles of mineralization within the broader property package. In addition to Balmoral's holdings over the GUC the airborne survey covered the Company's Jeremie, Lac Fleuri, Nantel and Grasset North Properties. The summer 2014 diamond drill program on the Martiniere Property, located 40 kilometres west of the Grasset nickel discovery, has now been completed. In total 20 holes, totaling just under 6,500 metres, were completed along the Bug Lake Gold Zone. Drilling targeted an interpreted "steep" along the southern portion of the Bug Lake Zone, a previously sparsely tested portion of the Zone proximal to the fault which offsets the northern and southern segments and, on a visual basis, appears to have successfully extended the Bug Lake Zone to the north by 240 metres, bringing the total strike length of the system to over 1,280 metres. Final results from the summer program are anticipated within the next 3 to 4 weeks. Additional infill drilling of the Bug Lake Zone, including follow-up testing of last winter's bonanza grade Footwall Sub-Zone intercepts from holes MDE-14-143 and MDE-14-145 (which included 1,138 g/t gold over 4.87 metres) is tentatively planned for January 2015 when winter conditions provide more ready and rapid access for the infill program. Initial drill testing of the Lac Hugo exploration target is currently underway. The Lac Hugo target, located on the eastern portion of the Grasset Property approximately 20 kilometres east of the Grasset Nickel discovery, is a blind exploration target spanning a 5.0 kilometre stretch along the Sunday Lake Deformation Zone (which hosts the Detour Gold Deposit 80 kilometres to the west). Geophysical work has identified an extensive I.P. (strongly resistive, weak to moderately chargeable) anomaly in an area of what is interpreted by Company geologists to be strong structural deformation along the trend of the Sunday Lake Deformation Zone in a previously undrilled area of the Property. Balmoral anticipates completing 5-7 drill holes in the Lac Hugo area before transferring the second drill to the Grasset Nickel discovery for the balance of the fall drill season. This limited drill program will provide much needed geological information in an area of complete overburden cover and assist on-going evaluation of the Lac Hugo target and other exploration targets in the eastern portion of the Grasset Property. The summer 2014 exploration program remains on schedule and on-budget. The 8 recently staked claims which comprise the Jeremie 8 Property have been accepted and registered by the Quebec government. The Company has, as per the agreement announced on July 31, 2014 issued 7,000 shares to the property vendor and acquired a 100% interest in the claims, which are located at the northern end of Balmoral's Jeremie Property. The Jeremie 8 claims are subject to a 1% NSR royalty in favour of the vendor. Balmoral has the right, at any time, to purchase 50% of the royalty from the vendor for $1,000,000 and has a right of first refusal on any sale or transfer by the vendor of the royalty interest. The shares issued are subject to a four month hold period expiring December 30, 2014.

Balmoral Resources Ltd. Reports High-Grade Nickel-Copper-PGE Intercepting from Each of the First Eight Holes Targeting Recent Horizon 3 Discovery on the Grasset Property in Quebec

Balmoral Resources Ltd. reported high-grade nickel-copper-PGE intercepts from each of the first eight holes targeting its recent Horizon 3 discovery on the company's wholly owned Grasset Property in Quebec. All eight holes, which fan out from discovery hole GR-14-25, 1.79% nickel, 0.19% copper, 0.42 g/t platinum and 1.04 g/t palladium over 45.28 metres intersected broad zones of high-grade nickel-copper-PGE mineralization similar to that observed in the discovery hole. Results were highlighted by holes GR-14-28 and GR-14-33, the latter being the deepest of the initial eight follow-up holes. Hole GR-14-28 returned a 102.86 metre intercept grading 1.03% nickel, 0.11% Cu, 0.22 g/t Pt and 0.53 g/t Pd from the bedrock collar. This included a higher-grade section almost 9 metres wider than the discovery hole at 54.08 metres grading 1.62% Ni, 0.18 % Cu, 0.36 g/t Pt and 0.88 g/t Pd. Hole GR-14-33 returned a similarly broad 99.50 metre intercept grading 0.95% Ni, 0.11% Cu, 0.21 g/t Pt and 0.48 g/t Pd which includes a very high grade core of 9.80 metres grading 2.73% Ni, 0.33% Cu, 0.68 g/t Pt, 1.64 g/t Pd and 0.11 g/t Au. In addition to nickel, copper, platinum and palladium values, several of the deeper intercepts from the current program returned significantly anomalous (> 0.10 g/t) gold values. The initial phase of testing has now successfully defined the local controls on the attitude, continuity and structural aspects of the Horizon 3 discovery. This has allowed on-going drilling to incorporate wider step outs and thus more efficiently and rapidly expand the size of the mineralized zone. Of the holes reported today, only hole GR-14-27 was drilled deep enough to test mineralized Horizon 1. Disseminated nickel sulphide mineralization was successfully intersected over a down-hole length of over 60 metres along the base of the intrusion (Horizon 1) returning 60.46 metres grading 0.35% nickel. Drill hole GR-14-34, the south-eastern most of the current Horizon 3 test holes, intersected a zone of deformed ultramafics cored by a quartz porphyry dyke near the projected level of the Horizon 3 sulphide zone. This porphyry cored section is currently interpreted to represent a roughly east-west trending, near vertical fault (the "QP Fault"); offsetting the Horizon 3 stratigraphy in this area. The presence of Grasset Ultramafic Complex rocks on both sides of the fault suggests limited lateral offset along the fault. Drilling to the southeast will resume once detailed magnetic data being collected from the on-going airborne survey of the Grasset Trend is received and processed. Drilling continues at Grasset (and on the company's Martiniere gold project 40 km to the west). In addition to the current airborne survey, which covers the Balmoral's Grasset, Fenelon, Jeremie South and Jeremie Properties (the 16 kilometre long "Grasset Nickel Trend"), down-hole geophysical surveys are also underway in the Grasset area.


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