Abitibi: Balmoral Sets Out to Prove Lower Canada's Upper Hand in Prolific Belt
August 14, 2012: Mother nature seems to be blind to political boundaries, despite what previous data would suggest in the preparation of Canada's next major gold mine at Detour Lake within the prolific Abitibi Gold Belt. But as Detour Gold (Stock Profile - TSX:DGC) nears construction completion on its mine on the Ontario side of the belt, the management team of Balmoral Resources (Stock Profile - TSXV:BAR) immediately on the Quebec side of the provincial border seek to defy the concept that the system contains almost 30 million gold ounces on one side of the border, and nothing on the Quebec side.
With one of the largest land positions in the Abitibi, Balmoral now controls over 82 kilometres of the Sunday/Detour Lake deformation zone, all within the friendly confines of the province of Quebec. Compared to Ontario, which offers little in terms of perks, Quebec is practically rolling out the red carpet for any company that's willing to invest in the province's mining industry.
Balmoral has nestled itself in a favourable position, capitalizing on "closeology" with respect to Detour Lake, and raising eyebrows from potential takeover suitors along the way. This is management's follow-up foray after successfully converting its last project West Timmins into a deal valued at $424 million through a sale to Lake Shore Gold [LSG:CA] in 2009, following the discovery of the high-grade Thunder Creek deposit in Timmins, Ontario.
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