Balmoral Confirms High-Grade Ni-Cu-PGE Mineralization Over 45.28 Metres on New Horizon; Grasset Property, Detour Trend, Quebec
(firmenpresse) - Balmoral Confirms High-Grade Ni-Cu-PGE Mineralization
Over 45.28
Metres on New Horizon; Grasset Property, Detour Trend,
Quebec
VANCOUVER, BC--(Marketwired - May 20, 2014) -
· Intersects 45.28 metres grading 1.79% Nickel, 0.19%
Copper, 0.42 g/t Platinum and 1.04 g/t
Palladium
· Includes 17.60 metres grading 2.45% Ni, 0.31% Cu, 0.62
g/t
Pt and 1.57 g/t Pd
Balmoral Resources Ltd. ("Balmoral" or the "Company")
(TSX:
BAR
)(OTCQX: BALMF) today confirmed the discovery of
high-grade nickel-copper-PGE mineralization associated
with the previously highlighted (see NR14-09, April 30,
2014) net textured
sulphide zone in hole GR-14-25. The net textured zone,
one of four mineralized intervals in the hole, returned
a near surface intercept of
1.79% nickel, 0.19% copper, 0.42 g/t platinum and 1.04
g/t palladium over 45.28
metres. This high-grade interval is capped by, and
includes,
1.11 metres of massive to semi-massive sulphide which
returned 10.60% Ni, 0.45% Cu, 2.04 g/t
Pt and 5.23 g/t Pd, confirming the potential for very
high grade nickel and PGE values within the system (see
table below).
Hole GR-14-25 is the first hole on the property to
intersect Horizon 3 of the
Grasset Ultramafic Complex (see Figure 1 and Figure 2).
This newly discovered,
sulphide rich horizon is open in all directions and sits
approximately 100
metres southwest of, and stratigraphically above, two
other vertically oriented Ni-Cu-PGE mineralized horizons
within the southern-most portion of this sparsely
tested, up to 16
kilometre long, ultramafic sill complex.
Hole NorthWest DiFrom To InterNi Cu Pt Pd Hori
p - -
val* zon
Number (m) (m) (m) (%)(%)g/tg/t
GR-14-22 0+90 2+60 -5141.2173.932.740.40.00.10.22
S E 7 3 7 7 5 1 6
including 166.6173.06.37 0.90.10.20.6"
6 3 1 2 4
188.7204.515.780.30.0Pending1b
2 0 8 2
219.0235.416.410.40.0Pending1a
0 1 4 5
GR-14-23 0+90 2+60 -6170.5182.411.910.40.00.10.22
S E 4 3 4 9 5 1 5
including 179.0181.52.51 1.00.10.20.6"
4 5 5 3 5 3
291.2303.011.860.30.00.00.11
3 9 0 3 5 1
GR-14-24 1+30 7+20 -5168.2185.517.310.30.00.00.12
S E 7 0 1 2 4 5 1
including 184.8185.50.63 1.20.20.20.5"
8 1 2 2 7 5
222.0222.40.41 0.01.30.10.1vein
6 7 8 1 3 8
230.6246.916.290.30.00.00.11
6 5 4 4 8 6
GR-14-25 1+30 5+20 -679.62156.977.291.10.10.20.63
S E 1 1 7 2 5 2
including"net 95.67140.945.281.70.10.41.0"
textured" 5 9 9 2 4
interval
which " 97.91130.032.092.10.20.51.3"
includes 0 7 3 3 1
which " 97.9199.021.11 10.0.42.05.23
includes 60 5 4 3
which " 98.4099.020.62 14.0.52.36.7"
includes 35 1 2 0
and " 110.5128.117.602.40.30.61.5"
5 5 5 1 2 7
322.4336.914.480.20.00.00.02
9 7 7 3 4 9
343.5346.42.94 0.50.00.00.12
1 5 7 3 6 6
372.0403.831.810.50.0Pending1b
0 1 5 5
including 380.7398.117.400.60.0Pending"
1 1 8 6
439.7470.130.400.30.00.00.11a
9 9 8 3 5 1
* All intercepts reported are down hole lengths, not true
thicknesses. Insufficient drilling has been completed to
date to define the orientation of the mineralized zone
in
space
The 45.28 metre net-textured interval in GR-14-25
exhibits excellent internal continuity and uniformly
exhibits strong nickel and PGE grades (See
Figure 3). Today's results also confirm the presence of
nickel-copper-PGE mineralization for over 840
metres laterally, and 300 metres vertically, along
Horizon 1; and for over 540
metres laterally and 240 metres vertically along Horizon
2. The first test of Horizon 3 was hole GR-14-25 which
intersected the high-grade mineralized zone at less than
100
metres vertical depth. All three mineralized horizons
remain open in all directions, save Horizon 1 which
appears to be terminated by the Sunday Lake Deformation
Zone to the south. Massive nickel-copper-PGE bearing
sulphides have been intersected along both Horizon 1 and
Horizon 3 in the limited (10 holes) drilling completed
to date.
The host Grasset Ultramafic Complex is interpreted to
stretch for 16
kilometres across Balmoral's wholly owned Grasset and
Fenelon Properties. It has seen only limited drilling,
focused primarily in an area 8.3
kilometres northwest of the current discovery. Similar
nickel-copper-PGE
sulphide mineralization is known to occur in this area,
suggesting significant potential for additional
discoveries
a
long the length of the Complex.
Recently received thin section analyses (see www.balmoralr
esources.com
) indicate the presence of abundant pyrrhotite and pentlan
dite
, with lesser chalcopyrite, magnetite (after chromite),
pyrite and
millerite (the latter a nickel sulphide with strong
nickel tenure) within the high-grade, net textured zone.
Pentlandite, which appears to host the bulk of the nickel
mineralization, occurs as isolated mineral grains which
the Company believes to be
favourable from a metallurgical viewpoint.
The Company anticipates that drilling and geophysical
work on the
Grasset Property will resume, ground conditions
permitting, in mid-June, followed shortly thereafter by
the resumption of drilling on
Balmoral's Martiniere high-grade gold property 40 kilometr
es
to the west.
"The broad, high-grade nature of the Grasset Ni-Cu-PGE
discovery provides
Balmoral with a second exciting, near-term growth
opportunity in Quebec" said Darin Wagner, President and
CEO of
Balmoral Resources. "With recent price increases
demonstrating the sensitivity of the nickel market to
political uncertainties in major producing regions, the
lack of new nickel discoveries globally over the past
several years, the strength of the grades, wide nature
of the intercepts, significant PGE content and apparent
scale of the mineralized system, the
Grasset discovery would appear to position the Company to
attract significant interest from investors in both the
preci
ous and base metal sectors."
QP and Quality Control
Mr. Darin Wagner (P.Geo.), President and CEO of the
Company, is the non-independent qualified person who has
approved the scientific and technical information
contained in this news release. Mr. Wagner has
supervised the work programs on the
Grasset Property, visited the property on multiple
occasions, has examined the drill core from the holes
summarized in this release, reviewed the results with
senior on-site geological staff and reviewed the
available analytical and quality control results.
Balmoral employs a quality control program for all of its
drill programs, to ensure best practice in the sampling
and analysis of drill core. This includes the insertion
of blind blanks, duplicates and certified standards into
the sample stream. NQ-sized drill core is saw cut with
half of the drill core sampled at intervals based on
geological criteria including lithology, visual
mineralization and alteration. The remaining half of the
core is stored on-site at the Company's Fenelon field
camp in Central Quebec. Drill core samples are
transported in sealed bags to ALS Minerals Val d'Or,
Quebec analytical facilities. Base metal analysis were
initially obtained via ICP-AES with both Aqua
Regia and 4 Acid digestion employed. The two digestion
methods show good correlation. Nickel values in excess
of 10,000 ppm are reanalyzed using a sodium peroxide
fusion followed by ICP-AES finish. PGE values were
obtained via industry standard fire assay with ICP-AES
finish using 30 g aliquots. Following receipt of assays,
visual analysis of mineralized intercepts is conducted
and additional analysis may be requested. ALS Minerals
is ISO 9001:2008 certified.
About Balmoral Resources Ltd. - www.balmoralresources.com
Balmoral is a Canadian-based discovery company focused on
high-grade gold and nickel discoveries on its wholly
owned, 700 square
kilometre Detour Trend Project in Quebec, Canada. With a
philosophy of creating value through the drill bit and a
focus on proven productive precious/base metal belts,
Balmoral is following an established formula with a goal
of maximizing shareholder value through discovery and
definition of high-grade, Canadian gold and base metal
assets.
On behalf of the board of directors of
BALMORAL RESOURCES LTD.
"Darin Wagner"
President and CEO
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, the prospective nature of the
Company's land holdings, the nature and style of the
mineralization discussed, interest of investors in the
results generated by the Company's exploration
activities 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 uncertain nature
and interpretation of geophysical models, 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.
For further information contact:
John Toporowski, Manager, Corporate Development
Tel: (604) 638-5815 / Toll Free: (877) 838-3664
E-mail: jtoporowski(at)balmoralresources.com
Leseranfragen:
Balmoral ist eine in Kanada ansässige Edelmetallaufsuchungs- und Entwicklungsunternehmung und fokussiert sich auf hochgradige Goldentdeckungen entlang des Detour Gold Trends in Quebec, Kanada.
Datum: 20.05.2014 - 17:58 Uhr
Sprache: Deutsch
News-ID 331845
Anzahl Zeichen: 15848
contact information:
Town:
Wien
Kategorie:
Business News
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"Balmoral Confirms High-Grade Ni-Cu-PGE Mineralization Over 45.28 Metres on New Horizon; Grasset Property, Detour Trend, Quebec
"
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