August 16, 2012: Vancouver, BC – Balmoral Resources Ltd. (Stock Profile – TSXV:BAR & OTCQX:BALMF) reported today that the first of the ME-series holes completed as part of the summer drill program on its Martiniere Property has discovered a new bonanza grade, gold bearing structure in the footwall to the Bug Lake Gold Zone. The Footwall discovery returned, on an uncut basis, 272.39 g/t (8.0 oz/ton) gold over 3.88 metres (12.7 feet) across the width of the mineralized structure. Included in this interval are adjacent bonanza grade intercepts of 1,530 g/t (44.6 oz/ton) gold over 0.55 metres (1.8 feet) and 409 g/t gold (11.9 oz/ton) over 0.50 metres (1.6 feet). The Martiniere Property, located approximately 45 kilometres east of the Detour Lake gold deposit, is centrally located within Balmoral’s 82 kilometre long Detour Trend Gold Project in Quebec, Canada.
“With two more shallow gold discoveries, including the broad Bug Lake Zone and our highest grade intercepts to date, the scale and potential of the gold system at Martiniere continues to rapidly expand,” said Darin Wagner, President and CEO of Balmoral. “The presence of multiple high-grade zones of gold mineralization, which we have thus far intersected across 1,500 metres at Martiniere, is the principal hallmark of all of the large gold systems in the Abitibi region of Ontario and Quebec. These systems commonly host a number of individual gold deposits reaching to vertical depths of over 1,000 metres. Historically it has been extremely rare for one Company to control the entirety of a given system like Balmoral appears to at Martiniere. With the vast majority of our drill testing to date above the 150 to 200 metre vertical level, and the system remaining open in all directions, the potential for new discoveries and further growth of the Martiniere gold system is excellent.”
To review the drill results – CLICK HERE.