October 3, 2012: Vancouver, BC – Balmoral Resources Ltd. (Stock Profile – TSXV:BAR & OTCQX:BALMF) announced results from 9 drill holes which extend the strike length of the Bug Lake Zone to 400 metres and confirm the presence of significant high-grade gold mineralization along the length of the Bug Lake structure. The Zone remains open in all directions with additional drill results pending. The Martiniere Property forms part of the Company’s Detour Gold Trend Project which spans over 82 kilometres along the Sunday Lake Deformation Zone in Quebec. Balmoral’s holdings adjoin those of Detour Gold who are in the final phases of construction of what will be, according to Detour’s commentary, Canada’s largest gold mine.
Drill results were highlighted by drill hole MDE-12-46, which returned an intercept of 15.09 g/t gold over 5.18 metres including, 1.58 metres grading 44.27 g/t gold from the central portion of the Bug Lake Zone. Six of the nine holes included in today’s release returned at least one assay result > 20 g/t gold.
Hole MDE-12-39 intersected a bonanza grade structure, which returned an intercept of 195.50 g/t gold over 0.97 metres, in the hanging wall above the Bug Lake Zone at less than 30 metres vertical depth.
“Our understanding of the Bug Lake Gold Zone continues to evolve as we expand this new, open-ended gold discovery to the north, to the south and to depth,” said Darin Wagner, President and CEO of Balmoral Resources. “We are obviously pleased to see a number of high to bonanza grade gold intercepts from the Zone which suggests potential similar to that observed in the nearby West Zone and Footwall discovery.”
For a table of the results – CLICK HERE.