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balmoral resources ltd (BAR) Details

Balmoral Resources Ltd., an exploration stage company, acquires, explores, and develops mineral properties in Canada. It primarily explores for gold metal deposits. The company holds interests in various properties in Quebec and Ontario, Canada. Its principal project is Detour Trend nickel and gold project Located in Quebec, Canada. The company was formerly known as Great Southern Enterprises Corp. and changed its name to Balmoral Resources Ltd. in March 2010. Balmoral Resources Ltd. was incorporated in 1983 and is headquartered in Vancouver, Canada.

8 Employees
Last Reported Date: 03/31/15
Founded in 1983

balmoral resources ltd (BAR) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: C$102.5K
Chief Financial Officer
Total Annual Compensation: --
Corporate Secretary
Total Annual Compensation: C$83.2K
Vice President of Exploration
Total Annual Compensation: C$161.6K
Compensation as of Fiscal Year 2014.

balmoral resources ltd (BAR) Key Developments

Balmoral Resources Ltd. Announces On-Going Expansion Drilling of the H3 Ni-Cu-PGE Zone

Balmoral Resources Ltd. announced that on-going expansion drilling has successfully extended the vertical depth of the core of the H3 Ni-Cu-PGE Zone by over 30%. Two holes, GR-15-87 and GR-15-90a drilled along the projected plunge of the H3 Zone intersected nickel sulphide mineralization over down hole widths of 118.84 and 86.09 meters respectively. Both holes extend the higher-grade core of the Zone vertically by approximately 100 meters in the areas tested. Results from the two holes were highlighted by an intercept of 42.70 meters grading 1.11% Ni, 0.12% Cu, 0.20 g/t Pt and 0.49 g/t Pd, within a broader 118.84 meter wide sulphide mineralized intercept which returned 0.67% Ni, 0.07% Cu, 0.11 g/t Pt and 0.27 g/t Pd from hole GR-15-87. This is one of the top six intercepts reported to date from the H3 Zone on a grade x thickness basis. Infill drilling on the northwestern portion of the H3 Zone returned mineralized intercepts consistent with previous drilling in this area. Results continue to indicate that the mineralized system remains open to depth, and to the northwest, along both Horizons 1 and 3 (H1 and H3). The initially planned infill drilling of the H3 Zone has now been completed. Expansion drilling continues to depth and additional holes will likely be added to infill the recent expanded portions of the H3 Zone. Testing of H1 during the current program continues to show local areas of higher grade nickel mineralization, including 5.67 m grading 0.99% Ni in GR-15-90a, providing potential to include portions of the H1 Zone in the planned initial resource estimate. Two drills continue to turn on the Grasset Property. Drilling is anticipated to continue through the month of September. One drill is current dedicated to the depth extension of the H3 and H1 Ni-Cu-PGE Zones. The second drill will predominantly focus on exploration targets along the projected trend of the Grasset Ultramafic Complex and elsewhere on the Grasset and adjacent properties. The company has recently completed staking of 19 additional claims in the Lac Grasset area. The summer/fall 2015 program remains on, or slightly under, budget. \To date three areas of anomalous gold mineralization have been identified proximal to the H3 and H1 nickel discoveries. Two of these occur in strongly deformed volcanic rocks located in the hanging wall to the GUC. These two occurrences, located approximately 300 meter apart, typically exhibit abundant quartz-carbonate veining, carbonate wall rock alteration and limited sulphide mineralization. They appear to have WNW trends and steep dips; crudely parallel to the regional Sunday Lake Deformation Zone in this area. Holes GR-15-88 and GR-15-89 intersected the northern of these two trends with GR-15-89 returning a high grade intercept of 9.33 g/t gold over 3.80 meters. This intercept may correlate with similar high-grade intercepts located 150 meters to the east in the GR-14-50 series of holes. Additional testing appears to be warranted in this area to determine the extent of the high-grade gold mineralization. The third area of anomalous gold mineralization occurs in the footwall to the GUC, to the northeast of and proximal to a portion of the H1 Zone. Here several holes, including GR-15-90a, have intersected a moderately broad zone of massive to semi-massive, potentially strata bound, semi-massive to massive pyrite mineralization which is consistently associated with anomalous gold mineralization. Deeper testing of the H3 Nickel Zone will provide an opportunity to further evaluate the gold potential of this area.

Balmoral Resources Updates Ongoing Resource Delineation/Expansion and Exploration Activities on the Detour Trend Project in Quebec

Balmoral Resources Ltd. updated its ongoing resource delineation/expansion and exploration activities on the Company's Detour Trend Project in Quebec. The summer/fall exploration program has focused on further expansion and delineation of the H3 Ni-Cu-PGE Zone and high-grade Bug Lake Gold Zones. Drilling continues on the H3 Zone and on exploration targets through the Detour Trend Project for both gold and nickel. Initial results from the summer program are anticipated over the next 2-3 weeks, with additional results to follow throughout the end of Third Quarter and into fourth quarter, 2015. The Detour Trend Project encompasses over 700 square kilometres of highly prospective ground located at the northern end of the Abitibi Greenstone Belt. The Project is situated between the Detour Gold mine to the west, currently one of Canada's large gold mines, and the Matagami base metal camp to the east. Wholly owned and already host to a number of new discoveries the Project covers one of the least explored sections of the Abitibi. On the Grasset Property, Balmoral has now completed 14 drill holes, totaling 5,780 metres, targeting the H3 and H1 Ni-Cu-PGE Zones. Drilling initially focused on infill work within and around the outer margins of the high grade H3 Zone. The planned infill holes have now been completed and are being sampled and assayed. Testing below the previously defined lower margins of the H3 Zone has confirmed that the Zone remains open to depth with several broad intervals of sulphide mineralization intercepted. Drilling is currently focused on continuing to expand the Zone to depth in the area immediately northwest of the Porphyry Fault. In addition to providing sufficient information to calculate an initial resource estimate for the H3 Zone, many of the holes from the current program will intersect the H1 Ni-Cu-PGE Zone. To date the H1 Zone has been traced by drilling for over 1,000 metres along strike and to vertical depths in excess of 400 metres. While generally lower grade than the H3 Zone, the H1 Zone demonstrates laterally continuity and locally contains higher-grade sub-zones, including narrow nickel-rich massive sulphide horizons. The H1 Zone has a similar dip and runs sub-parallel to the H3 Zone. It is typically located within 100-130 metres of the H3 Zone. Initial metallurgical testing of material from the H3 Ni-Cu-PGE Zone is nearing completion. The Company continues to anticipate receipt of final test results later in third quarter. To date five holes, totaling 1,430 metres, have been completed to test additional targets located along the projected trend of the Grasset Ultramafic Complex ("GUC"), northwest of the H3 and H1 Zones. Balmoral has now also completed an extensive I.P. survey covering a series of very strongly folded and highly magnetic rocks located approximately 12-17 kilometres east of the H3 and H1 discoveries.

Balmoral Resources Ltd Rolls Out Three Drills on Detour Trend Project, Quebec

Balmoral Resources Ltd. announced the summer/fall 2015 drill program on the company's Detour Trend Project in Quebec is underway with several holes already completed. Three drills are now active on the Project and will remain so throughout the summer and fall. The focus of the summer/fall program will be to expand and delineate Balmoral's discoveries along the Grasset Nickel Trend and throughout the Martiniere Gold System. In total the Company anticipates completing approximately 20,000 meters of diamond drilling during the summer/fall program. The Grasset and Martiniere Properties form part of Balmoral's 700+ square kilometer Detour Trend Project located in west-central Quebec. On the Grasset Property infill and expansion drilling is now underway with two drills targeting the H3 nickel-copper-PGE Zone. Fourteen drill holes (2 designated as infill and 12 as expansion holes), totaling approximately 6,000 meters, are currently planned. Additional drilling may be added should these holes prove successful in further expanding the high-grade core of the H3 Zone. Upon completion of this phase of the program, modeling of the maiden H3 Zone resource will be initiated with a goal of delivering the resource during the fourth quarter of 2015. Metallurgical work on the H3 Zone is currently underway with initial results anticipated in the third quarter of 2015. Balmoral's H3 Zone represents the first significant Ni-Cu-PGE sulphide discovery in the northern Abitibi in over a decade. Additional recent discoveries of Ni-Cu-PGE mineralization by the Company in the immediate Grasset area indicate emerging district scale discovery potential. In that vein, following completion of the H3 expansion and infill program, both drills will commence testing of additional targets located along the projected trend of the Grasset Ultramafic Complex. Winter 2015 drilling by Balmoral, and recent re-logging of historic drill holes located along the southern 8.0 kilometers of the GUC, has identified numerous occurrences of Ni-Cu-PGE bearing sulphides indicating potential for additional H3 style Ni-Cu-PGE discoveries on a district scale. Ground geophysical work completed following the winter drill program has outlined a number of targets for immediate follow-up, including several associated with known occurrences of Ni-Cu-PGE mineralization. It is anticipated that up to 20 individual targets could be tested during the summer/fall program. A third drill has recently been mobilized and is set to commence drilling targets along the Bug Lake Gold Trend and throughout the broader Martiniere Gold System. Approximately 5,000 meters of drilling is planned for the Martiniere system this summer/fall. Along the Bug Lake Gold Trend the focus will remain on the infill and expansion of the shallow (sub 250 vertical meter) portion of the four principal sub-parallel high grade zones which comprise the Bug Lake Gold Trend. These zones continued to produce very strong results, including intercepts of 19.55 g/t gold over 44.45 meters and 7.01 g/t gold over 22.48 meters, from the recent winter 2015 infill program, further confirming the robust nature of the Martiniere system. Outside the Bug Lake Trend the company will target several geophysical targets which share similarities with the Bug Lake Zones and the nearby Detour Gold deposit. Included in this will be follow-up testing of a new gold discovery made by the company in the fall of 2014 located 2.0 kilometers northwest of the Bug Lake Trend. Balmoral's strong cash position will continue to allow it to accelerate or expand the current program as warranted by early results.


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