Since drilling its first holes into the overburden that covers most of its Martiniere property in Quebec, Balmoral Resources (TSX: BAR; US-OTC: BALMF) has delineated three gold-bearing deposits along a north-south oriented fault system.
The junior has traced its Bug South, Bug North and Bug Lower Steep gold deposits to vertical depths of 350, 350, and 550 metres, respectively, and each remains open for further expansion down-plunge.
This week the company reported that the first holes of its summer drill program have uncovered a new, broad zone of gold mineralization at shallow depths along the Bug Gold Trend in an untested area of the Martiniere property that it had previously considered less prospective.
Balmoral is calling the discovery the Bug Northwest (NW) zone, and it is about 450 metres to the northwest of the Bug North deposit.
Four holes produced mineralized intercepts ranging from 16.39 to 64.70 metres in down-hole width and at grades ranging from 0.39 g/t gold to 1.58 g/t gold.
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