Canadian Mining Journal

News

GOLD: Balmoral finds high grades in deepest hole at Bug Lake



QUEBEC – Vancouver-based Balmoral Resources has drilled 4.36 g/t Au of 6.43 metres in the deepest hole to date at Bug Lake, part of the Martiniere property 50 km east of the Detour Lake gold mine. The company says it can now trace the Bug North gold deposit to a depth of 550 metres and can confirm that the deposit is open down plunge.

Hole BLD-16-01 intersected the Bug North footwall zone over a down-hole width of 48.55 metres, returning an average grade of 1.07 g/t Au. Two higher grade sections are present within this interval returned 1.57 metres grading 6.66 g/t gold and a deeper intercept of 6.43 metres grading 4.36 g/t, including 1.50 metres grading 10.75 g/t.

Falco also reported results from hole MDE-16-232 that intersected the Bug North footwall zone approximately 300 metres shallower than BLD-16-01 indicating that the zone may be increasing in width at depth. This hole returned 13.55 metres grading 1.66 g/t Au including two higher grade intervals of 1.71 metres grading 5.27 g/t and 1.15 metres grading 9.63 g/t.

MDE-16-232 also intersected a shallow zone of gold mineralization to the east of the Bug North deposit in the Martiniere East area. This shallow intercept returned 32.39 metres grading 0.60 g/t Au, including a high grade core of 1.85 metres grading 7.05 g/t.

Detailed information from recent drilling results are posted at www.BalmoralResources.com in the Nov. 22, 2016, news release.