November 9, 2012: Vancouver, BC – Balmoral Resources Ltd. (Stock Profile – TSXV:BAR & OTCQX:BALMF) today reported results from the first 3 of 20 holes drilled in the Bug Lake area of its Martiniere Property during the recently completed Fall 2012 drill program. Results include further confirmation of the very high grade nature of the Bug Lake Footwall Zone. Hole MDE-12-65 returned anomalous gold mineralization over an interval of 81.00 metres, including a high-grade Footwall intercept of 7.94 g/t gold over 19.70 metres. As with other previous intercepts from the Footwall Zone, this broader interval contains a sulphide-rich core which returned 21.18 g/t gold (0.62 oz/ton) over 6.45 metres (21.16 feet). The core of this intercept occurs at approximately 50 metres vertical depth.
“With a shallow, high value target like the Footwall Zone continuing to expand in proximity to several other high-grade zones of gold mineralization, today’s results further demonstrate the potential of the Martiniere gold system,” said Darin Wagner, President and CEO of Balmoral. “While others are attempting to add, or access, high-grade ounces at considerable depth we are doing so in the near surface, on multiple fronts, in one of the best mining jurisdictions on the planet.”
The Footwall Zone is one of three high-grade gold zones which occur within the 100+ metre wide Bug Lake Fault corridor on the Company’s Martiniere Property in Quebec. The Martiniere Property forms part of Balmoral’s 82 kilometre long Detour Gold Trend Project located along the Sunday Lake deformation zone in Central Quebec adjacent to the developing Detour Gold deposit in Ontario.
For a table of the results – CLICK HERE.