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| MDE-14-143 Bug Lake Footwall Zone - Gold Smeared on Outside of Core |
Results drilling process Balmoral Resources Ltd. ("Balmoral" or the "Company") (TSX: BAR; OTCQX: BALMF) at Martiniere property in province of Quebec Canada from its summer or fall in 2015 has resulted in new discoveries, gold bearing, fault system - the Lac du Doigt ("Finger Lake") Fault Zone - which has the potential to extend for several kilometres across the Property, in addition to results from infill and expansion drilling along the Bug Lake Gold Trend
Balmoral Resources is a proudly Canadian exploration and development company focussed on creating shareholder value through the discovery, aggressive exploration and development of high-grade gold and base metal assets in the major mining districts of Canada and in particular the province of Quebec
Balmoral is in the process of defining an important new, high grade gold bearing system on the Martiniere Property. To date the Company has intersected gold mineralization along two major structural trends -- the Bug Lake and Martiniere West Trend -- which in aggregate extend for over 1,900 metres along strike and to depths of over 400 vertical metres. Both trends remain open to depth.
Gold mineralization on the Martiniere Property is typical of gold deposits throughout the Abitibi region of Ontario and Quebec. It exhibits a strong element of structural (shear/fault) control, is gold dominant with only minor associated silver mineralization, demonstrates a strong association with certain lithologies or lithological contacts and, to date, demonstrates significant vertical continuity.
Results drill program Balmoral Resources at Martiniere property in 2015
Lac du Doigt Fault Zone
The last exploration hole of the 2014 program at Martiniere - MDX-14-46 - was collared approximately 2.50 kilometres west of the current northern margin of the Bug Lake Gold Trend to test an east-west trending structural zone interpreted from magnetic data (see Figure 1).
MDX-14-46 successfully intersected three occurrences of gold mineralization. The shallowest intercept, associated with quartz-tourmaline veining, returned 3.27 g/t gold over 3.64 metres including 25.50 g/t gold over 0.43 metres at the bedrock collar. Two other anomalous intercepts (see Table 1 below) further down the hole are associated with sericite-pyrite alteration hosted by felsic porphyry sills developed within the Lac du Doigt Fault Zone.
Hole MDX-15-48 was collared approximately 185 metres east of MDX-14-46 and also intersected three intervals of anomalous gold mineralization, an upper vein zone and two lower porphyry hosted intervals, suggesting local continuity to the gold mineralized occurrences within the Fault Zone.
The Porphyry 2 occurrence shows a significant broadening to the east over the 185 metres between the two holes. The Lac du Doigt Fault is untested west of these two holes. It is also untested for a 2.30 kilometre span between the current drilling and the northern end of the Bug Lake Gold Trend where there are indications of gold mineralization within the projection of this structure. The Lac du Doigt Fault Zone thus provides an extensive new, and largely untested, gold target on the Martiniere Property.
MDX-14-46 successfully intersected three occurrences of gold mineralization. The shallowest intercept, associated with quartz-tourmaline veining, returned 3.27 g/t gold over 3.64 metres including 25.50 g/t gold over 0.43 metres at the bedrock collar. Two other anomalous intercepts (see Table 1 below) further down the hole are associated with sericite-pyrite alteration hosted by felsic porphyry sills developed within the Lac du Doigt Fault Zone.
Hole MDX-15-48 was collared approximately 185 metres east of MDX-14-46 and also intersected three intervals of anomalous gold mineralization, an upper vein zone and two lower porphyry hosted intervals, suggesting local continuity to the gold mineralized occurrences within the Fault Zone.
The Porphyry 2 occurrence shows a significant broadening to the east over the 185 metres between the two holes. The Lac du Doigt Fault is untested west of these two holes. It is also untested for a 2.30 kilometre span between the current drilling and the northern end of the Bug Lake Gold Trend where there are indications of gold mineralization within the projection of this structure. The Lac du Doigt Fault Zone thus provides an extensive new, and largely untested, gold target on the Martiniere Property.
| Hole Number | From (Metres) | To (Metres) | Interval* (Metres) | Gold (g/t) | Zone |
|---|---|---|---|---|---|
| MDX-14-46 | 18.36** | 22.00 | 3.64 | 3.27 | Vein |
| including | 20.71 | 21.14 | 0.43 | 25.50 | |
| 150.39 | 158.72 | 8.33 | 0.27 | Porphyry 1 | |
| including | 150.39 | 151.82 | 1.43 | 1.14 | |
| 197.54 | 205.91 | 8.37 | 0.31 | Porphyry 2 | |
| MDX-15-48 | 125.97 | 126.58 | 0.61 | 4.43 | Vein |
| 237.95 | 246.00 | 8.05 | 1.08 | Porphyry 1 | |
| including | 243.22 | 244.65 | 1.43 | 5.16 | " |
| 265.45 | 300.70 | 35.25 | 0.32 | Porphyry 2 | |
| including | 265.45 | 266.90 | 1.45 | 1.29 | " |
| and | 297.10 | 298.27 | 1.17 | 1.25 | " |
* Reported drill intercepts are not true widths and are uncapped. At this time there is insufficient data with respect to the shape of the mineralization to calculate true orientations in space.
** Collared into zone of mineralization.
Bug Lake Gold Trend
The Bug Lake Gold Trend is a north-south striking corridor of faulting, strong alteration and gold mineralization which can now be traced for a minimum of 1,800 metres on the Martiniere Property. The Trend is characterized by broad zones (18-175 metre wide drill intercepts) of silica-sericite-pyrite alteration and anomalous gold mineralization. Within the broader Trend a number of steeply dipping, sub-parallel high-grade zones of gold mineralization are developed.
The recently completed drill program was successful in tracing the Upper and Lower Bug Lake Zones throughout all areas tested. It also continued to confirm the presence of high-grade gold mineralization in the Hanging Wall to the Bug Lake Fault along the northern segment of the Trend. The Hanging Wall Zone in this area had not previously been tested to depth and MDE-15-200 returned three high-grade intercepts - 32.10 g/t gold over 0.81 metres, 12.40 g/t gold over 1.03 metres and 13.95 g/t gold over 0.60 metres - between 210 and 240 metres down hole depth (see Table 2 below and Figure 2 ).
The recently completed drill program was successful in tracing the Upper and Lower Bug Lake Zones throughout all areas tested. It also continued to confirm the presence of high-grade gold mineralization in the Hanging Wall to the Bug Lake Fault along the northern segment of the Trend. The Hanging Wall Zone in this area had not previously been tested to depth and MDE-15-200 returned three high-grade intercepts - 32.10 g/t gold over 0.81 metres, 12.40 g/t gold over 1.03 metres and 13.95 g/t gold over 0.60 metres - between 210 and 240 metres down hole depth (see Table 2 below and Figure 2 ).
Table 2: Bug Lake Gold Trend Results
| Hole Number |
Northing | Easting | Dip | From (Metres) |
To (Metres) |
Interval* (Metres) |
Gold (g/t) |
Zone |
|---|---|---|---|---|---|---|---|---|
| MDE-15-194 | 12+00S | 0+80W | -50 | 221.50 | 231.00 | 9.50 | 0.29 | |
| 265.00 | 273.40 | 8.40 | 0.23 | |||||
| MDE-15-195 | 11+50S | 3+40W | -50 | 159.00 | 177.50 | 18.50 | 0.21 | Bug Lake |
| MDE-15-196 | 2+00N | 2+60W | -45 | 33.55 | 41.35 | 7.80 | 0.77 | Hanging Wall |
| including | 36.18 | 37.26 | 1.08 | 3.13 | " | |||
| 54.50 | 61.95 | 7.45 | 0.66 | U Bug Lk | ||||
| 86.45 | 119.80 | 33.35 | 0.72 | L Bug Lk | ||||
| including | 107.00 | 115.48 | 8.48 | 1.46 | " | |||
| MDE-15-197 | 2+25N | 2+30W | -45 | 63.50 | 110.90 | 47.40 | 1.20 | HW + U Bug Lk |
| including | 65.30 | 66.00 | 0.70 | 57.70 | HW2 | |||
| and | 84.00 | 88.75 | 4.75 | 1.03 | Hanging Wall | |||
| 105.50 | 107.00 | 1.50 | 2.10 | |||||
| 132.10 | 154.05 | 21.95 | 0.82 | L Bug Lk | ||||
| including | 135.00 | 146.00 | 11.00 | 1.14 | " | |||
| MDE-15-198 | 4+50N | 4+75W | -50 | 57.86 | 58.88 | 1.02 | 2.00 | |
| 174.72 | 187.49 | 12.77 | 0.44 | U Bug Lk | ||||
| 222.41 | 222.91 | 0.50 | 2.61 | |||||
| 230.08 | 251.57 | 21.49 | 0.41 | Hanging Wall | ||||
| including | 232.90 | 234.47 | 1.57 | 3.82 | " | |||
| MDE-15-199 | 4+00N | 3+85W | -45 | 63.50 | 65.00 | 1.50 | 1.37 | |
| 93.40 | 112.12 | 18.72 | 0.22 | L Bug Lk | ||||
| 155.10 | 178.80 | 23.70 | 0.35 | U Bug Lk | ||||
| including | 176.15 | 176.80 | 0.65 | 4.96 | " | |||
| MDE-15-200 | 4+00N | 3+85W | -56 | 68.89 | 69.96 | 1.07 | 2.00 | |
| 97.12 | 123.41 | 26.29 | 0.24 | L Bug Lk | ||||
| 142.91 | 201.16 | 58.25 | 0.41 | U Bug Lk | ||||
| including | 186.78 | 187.91 | 1.13 | 3.60 | " | |||
| and | 200.51 | 201.16 | 0.65 | 5.71 | " | |||
| 210.22 | 218.52 | 8.30 | 3.36 | Hanging Wall | ||||
| including | 211.20 | 212.01 | 0.81 | 32.10 | " | |||
| 227.13 | 233.92 | 6.79 | 2.14 | " | ||||
| including | 229.01 | 230.04 | 1.03 | 12.40 | " | |||
| 238.40 | 239.00 | 0.60 | 13.95 | " | ||||
| MDE-15-201 | 1+00S | 3+35W | -45 | 56.45 | 73.50 | 17.05 | 1.68 | L Bug Lk |
| including | 57.10 | 58.80 | 1.70 | 3.49 | " | |||
| MDE-15-202 | 1+00S | 3+00W | -45 | 67.00 | 86.50 | 19.50 | 0.63 | U Bug Lk |
| including | 74.58 | 82.52 | 7.94 | 1.16 | " | |||
| 105.58 | 134.50 | 28.92 | 1.44 | L Bug Lk | ||||
| including | 118.22 | 121.15 | 2.93 | 3.96 | " | |||
| and | 131.72 | 133.00 | 1.28 | 18.85 | " |
U Bug Lk = Upper Bug Lake; L Bug Lk = Lower Bug Lake; HW = Hanging Wall; HW2 = Hanging Wall 2 Sub-Zone
Exploration of the Martiniere Property is expected to resume in early 2016 with a focus on continued near surface delineation of the Bug Lake and nearby gold zones, further examination and testing of the Lac du Doigt Fault Zone and exploration of other gold targets on the property.
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