Bullet points from the news release….
- More than doubles strike/depth extent of Horizon 3 mineralized zone, remains open
- High-grade core continues, deepest hole yields 21.89 metres grading 2.21% Ni
- Footwall vein returns 2.58% Ni, 2.90 % Cu, 1.92 g/t Pt, 12.00 g/t Pd and 5.13 g/t Au
- Three pending holes yield massive sulphide intercepts
(Vancouver, October 1, 2014) Balmoral Resources Ltd. (“Balmoral” or the “Company”) (TSX: BAR; OTCQX: BALMF) reported results for on-going testing of the Horizon 3 nickel-copper-PGE discovery on the Company’s wholly owned Grasset Property in Quebec. Drilling continues to rapidly expand the size of the Ni-Cu-PGE mineralized zone. Results from 12 recently completed holes, and several pending intercepts, imply more than a doubling of both the strike and down-dip extent of the Horizon 3 discovery. The Horizon 3 sulphide zone remains open to depth and to the northwest (see Figure 1). The Company also reported the first intersections of high-grade “Footwall-Style” Ni-Cu-PGE-Au veining, reported that it has intersected massive sulphide mineralization in three recently completed holes and reported several high-grade gold intercepts from altered volcanic and intrusive rocks in the hanging wall to Horizon 3.
Today’s results were highlighted by holes GR-14-44 and GR-14-47, the latter being the deepest intercept reported to date. Hole GR-14-44 returned a 44.87 metre intercept grading 1.53% nickel, 0.16% copper, 0.37 g/t platinum and 0.86 g/t palladium with a higher grade core returning 12.57 metre grading 2.91% Ni, 0.44% Cu, 0.74 g/t Pt and 1.84 g/t Pd. Hole GR-14-47 returned a similarly broad intercept returning49.25 metres grading 1.28% Ni, 0.13% Cu, 0.31 g/t Pt and 0.76 g/t Pd, which includes a high grade core of 21.89 metres grading 2.21% Ni, 0.23% Cu, 0.57 g/t Pt and 1.42 g/t Pd (see Figures 2 and 3).
“Today’s results demonstrate a rapid expansion of the Horizon 3 discovery both along strike and to depth, increasing our confidence in the potential of both the Horizon 3 discovery and the Grasset Ultramafic Complex as a whole” said Darin Wagner, President and CEO of Balmoral. “On-going drilling has continued to intersect net-textured style sulphide mineralization along the projection of Horizon 3 northwest of and beneath the holes reported today. We are also encouraged to see the development of massive sulphide mineralization, both at depth and to the northwest, in a series of pending holes.”