VANCOUVER, BRITISH COLUMBIA–(Marketwired – Aug. 6, 2013) – Balmoral Resources Ltd. (“Balmoral” or the “Company”) (TSX VENTURE:BAR)(OTCQX:BALMF) today reported that drilling has resumed on the Company’s Martiniere Property in Quebec, with several holes already completed. The Martiniere Property forms part of the Company’s wholly owned Detour Gold Trend Project which spans over 82 kilometres along the Sunday Lake Deformation Zone in Quebec.
The initial phase of the summer drill program will focus on further delineation and expansion of several near surface, high-grade gold zones on the Martiniere Property, including those in the Bug Lake area (Hanging Wall, Bug Lake and Footwall Zones), Martiniere West area (West Zone and newly discovered West Zone Extensions) and recent discoveries in the Martiniere East area, (ME-11, ME-16 and ME-23 occurrences). The first target for expansion is in the Bug Lake area where vertical extensions of the high grade core of the Bug Lake Zone, Hanging Wall Zone and potential vertical extensions of the bonanza grade Footwall Zone are being targeted.
Pending completion and receipt of results from on-going geophysical and geochemical programs on the Martiniere Property, and elsewhere throughout the broader Detour Gold Trend Project, drill testing of several high-priority exploration targets is also planned as part of the Company’s on-going target generation program. As currently outlined, the summer drill program calls for a minimum of 12,000 metres of drilling to be completed.
“At a time when the gold business is in a state of flux, expanding, high-grade, near surface gold systems in stable political jurisdictions, like BAR’s Martiniere discoveries, should represent “go to” gold assets” said Darin Wagner, President and CEO of Balmoral. “We have successfully expanded this high-grade gold system, on multiple fronts, during each previous phase of drilling and look to continue further delineating the scale of the opportunity at Martiniere, and across the breadth of the Detour Gold Trend Project, with our current program.”
Mr. Darin Wagner (P.Geo.), President and CEO of the Company, is the non-independent qualified person for the technical disclosure contained in this news release. Mr. Wagner has supervised the work programs on the Martiniere Property, visited the property on multiple occasions, examined the drill cores from the majority of holes drilled to date on the Property, reviewed the results with the on-site project geologists and reviewed the available analytical and quality control results.
About Balmoral Resources Ltd. – www.balmoralresources.com
Balmoral is a Vancouver-based precious metal exploration and development company focused on delineation of a series of high-grade gold discoveries on its wholly owned Detour Gold Trend Project located in Quebec, Canada. With a philosophy of creating value through the drill bit and with a focus on proven productive precious metal belts, Balmoral is following an established formula with a goal of maximizing shareholder value through the discovery and definition of high-grade gold assets.
On behalf of the board of directors of BALMORAL RESOURCES LTD.
Darin Wagner, President and CEO
Neither the TSX Venture Exchange or the Toronto Stock Exchange, nor their Regulation Services Providers, (as that term is defined in the policies of the TSX Venture Exchange and Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains forward-looking statements and forward-looking information (collectively, “forward looking statements”) within the meaning of applicable Canadian and United States securities laws. All statements, other than statements of historical fact, included herein, including statements regarding the anticipated content, commencement, duration and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, the timing of the receipt of assay results, and business and financing plans and trends, are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions or are those which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward-looking statements. Important factors that could cause actual events and results to differ materially from the Company’s expectations include those related to weather, equipment and staff availability; performance of third parties; risks related to the exploration stage of the Company’s projects; market fluctuations in prices for securities of exploration stage companies and in commodity prices; and uncertainties about the availability of additional financing; risks related to the Company’s ability to identify one or more economic deposits on the properties, and variations in the nature, quality and quantity of any mineral deposits that may be located on the properties; risks related to the Company’s ability to obtain any necessary permits, consents or authorizations required for its activities on the properties; and risks related to the Company’s ability to produce minerals from the properties successfully or profitably. Trading in the securities of the Company should be considered highly speculative. All of the Company’s public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the latest technical reports filed with respect to the Company’s mineral properties.
This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.
Balmoral Resources Ltd.
Manager, Corporate Development
(604) 638-5815 / Toll Free: (877) 838-3664