March 19, 2013: Vancouver, BC – Balmoral Resources Ltd. (Stock Profile – TSXV:BAR & OTCQX:BALMF) reports that GTA Resources and Mining Inc. has advised Balmoral that drilling has resumed on the company’s Northshore property located near Schreiber, Ont. The Northshore property hosts the Afric gold zone, a broad at/near-surface gold zone which has, to date, been outlined over an area of 500 by 350 metres and intersected to a vertical depth of 350 metres. Several high-grade vein structures have been identified within the broader Afric zone and these, along with extensions of the Afric zone, will be the focus of the planned drill program. GTA has indicated that it plans to complete 2,500 metres of drilling during the current program.
Gold mineralization on the Northshore property is hosted within a sequence of felsic intrusive and lesser volcanic rocks. The Afric zone is characterized by strong fracturing, moderate to locally strong alteration, disseminated sulphide mineralization and locally abundant visible gold. The mineralization is most similar to that associated with porphyry-style gold deposits and remains open in several directions. High-grade mineralization typically occurs in quartz veins and veinlets hosted by north-northeast-trending fracture sets within the broader Afric zone. Additional high-grade vein systems on the property, including the one associated with the former producing Northshore mine, also remain to be evaluated.
Located immediately south of the town of Schreiber, Ont., within the Hemlo-Schreiber greenstone belt, the Northshore property is currently 100 per cent owned by Balmoral and under option to GTA. GTA can earn an initial 51-per-cent interest in the property under the terms of an option agreement between the companies.
Balmoral also provided an update on Martiniere – CLICK HERE – to read more.