Balmoral Reports Further Expansion, New High Grade Discoveries Within Afric Gold System, Northshore Property, Ontario


January 8, 2013: Vancouver, BC – Balmoral Resources Ltd. (Stock Profile – TSXV:BAR & OTCQX:BALMF) reported results from eight holes completed on the Company’s Northshore Property in Ontario. The intercepts reported today expand the Afric Gold Zone along strike to the northeast and to depth. Results continue to point to the presence of several high-grade gold bearing structures within a very broad corridor of anomalous gold mineralization. Exploration on the Northshore Property is being funded and operated by GTA Resources and Mining Inc. (“GTA”) under a previously announced option agreement between the companies.

Highlights from today’s release include:

  • Hole WB-12-29 which returned two broad intercepts of anomalous gold
    mineralization including two new high-grade discoveries (9.15 g/t gold
    over 3.00 metres and 9.78 g/t gold over 5.00 metres), expanding the
    Afric Zone to the northeast into an area of limited historic drilling.
  • Hole WB-12-33 which returned an average grade of 1.37 g/t gold over
    68.00 metres (including 12.16 g/t gold over 4.00 metres), representing
    one of the deepest intersections on the Property to date and indicating
    the Afric Zone remains open at depth.
  • Several bonanza grade intersections including: 66.50 g/t gold over 0.50
    metres (WB-12-33), 50.90 g/t gold over 0.50 metres and a second deeper
    intercept of 50.90 g/t gold over 0.50 metres (WB-12-29), and 20.10 g/t
    gold over 1.00 metre (WB-12-29).
  • The gold mineralization hosted within the Afric Intrusive Complex has
    been partially defined over an area exceeding 450 metres in strike
    length and to depths in excess of 390 vertical metres.

Click HERE to read the full release.


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