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Last C$0.92 CAD
Change Today 0.00 / 0.00%
Volume 35.9K
BAR On Other Exchanges
As of 3:58 PM 06/1/15 All times are local (Market data is delayed by at least 15 minutes).

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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. Reports Results from Six Exploration Holes Drilled Along the Grasset Trend

Balmoral Resources Ltd. reported results from six exploration holes drilled along the Grasset Trend on its wholly owned Fenelon and Jeremie Properties in Quebec. Two of three holes drilled to test geophysical anomalies along the southern segment of the Grasset Ultramafic Complex, host to Balmoral's Horizon 3 Ni-Cu-PGE discovery, successful intersected nickel-copper-PGE bearing sulphide mineralization. The new discoveries are located 3.3 and 4.6 kilometres northwest of the Horizon 3 discovery and southeast of the two Ni-Cu-PGE discoveries announced on April 9, 2015. In addition hole FAB-15-50 intersected 216 g/t (6.30 oz/t) gold over 0.76 metres in a newly discovered shear zone. The shear zone appears to be later than and cuts through a nickel-copper-PGE mineralized interval located at the base of the ultramafic sequence in this hole. The mineralized structure hosts abundant visible gold mineralization over a 10-15 centimetre downhole interval. It occurs in a setting similar to the nearby high-grade Fenelon gold zone which is also owned by the Company. Balmoral also completed two drill holes on the Jeremie Property which is located at the northern end of the Grasset Trend. Both holes tested airborne electromagnetic ("EM") anomalies associated with secondary magnetic highs outside the principal trend of the GUC. Hole JER-15-02 intersected two intervals of anomalous base metal (copper, zinc, lead) mineralization of potential VMS affinity within a sequence of volcanic and sedimentary lithologies. The host sequence is characterized by stacked sulphide-bearing horizons which are located toward the northern end of a 1,300 metre long, multi- component EM conductor which had not been previously tested. These intercepts, and similar results from historic drilling to the south, continue to suggest potential for VMS base metal mineralization within the host sequence to the Grasset Ultramafic Complex. Final results from expansion drilling on the Horizon 3 discovery, and from three holes drilled for metallurgical purposes, are anticipated within the next several days. Field work on the Detour Trend Project is anticipated to resume this coming week in preparation for the resumption of drilling in June.

Balmoral Resources Ltd. Reports for 11 Holes on Martiniere Property

Balmoral Resources Ltd. reported results for 11 holes from the recently completed winter 2015 drill program on the company's wholly owned Martiniere Property. Results were highlighted by intercepts of 9.30 g/t gold over 15.75 metres, including 18.11 g/t gold over 7.51 metres, from the Footwall Zone in hole MDE-15-175A. Hole MDE-15-175A intersected the Footwall Zone approximately 12 metres below MDE-15-166, which returned an intercept 19.55 g/t gold over 44.45 metres, including 34.84 g/t gold over 24.14 metres. Results suggest a possible local fault repeat of the Footwall Zone in the vicinity of hole MDE-15-166. Today's results continue to demonstrate the very high grade nature of the Footwall Zone beneath this local fault offset and expand the footprint of the Footwall Zone down-plunge from MDE-15-166. The Bug Lake Trend is a 1,200 metre long by 60 to 120 metre wide, roughly north-south fault striking corridor. This fault corridor hosts a number of sub-parallel, steeply dipping and moderately south-plunging gold zones which have been intersected to vertical depths of approximately 400 metres and which remain open. These include the very high-grade Footwall Zone, the Upper and Lower Bug Lake Zones and the Hanging Wall Zone. The Bug Lake Trend cross-cuts local, north-northeast striking moderately south-dipping volcanic stratigraphy (host to the Martiniere East VMS occurrence) at a high angle (75 to 85 degrees). The Bug Lake Trend is sub-divided into a northern and a southern segment roughly half way through its known strike length by a late, northwest directed fault which offsets the trend by approximately 75 metres. The northern segment of the Bug Lake Trend currently being tested, exhibits open "S" type geometry. Near surface, over the southern half of the "northern segment", the fault system exhibits near vertical geometry with south-plunging gold zones developed within vertically dipping structural zones. At depths of 150 to 250 vertical metres the fault zone begins to flatten to a shallower (20-45 degree) dip, before again steepening to near vertical or overturned. This flat section also exhibits a southern plunge coming to surface in the northern portion of the area currently being tested (holes MDE-15-180 to -183). The "flats" are typically characterized by broad zones of gold mineralization but weaker development of the higher grade structural zones which characterize the "steeps". Results from an additional 9 holes completed during the winter program remain pending. Additional testing along the Bug Lake Gold Trend will resume in the second or third quarter of 2015, as will testing of additional gold and VMS targets throughout the Martiniere Property. The Martiniere Property forms part of the Company's 700+ square kilometre Detour Trend Project and is located approximately 40 km west of the Company's Grasset Ni-Cu-PGE discovery. 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 core and/or photographs from the holes summarized in this release, discussed and reviewed the results with senior on-site geological staff and reviewed the available analytical and quality control results. Balmoral has implemented a quality control program for all of its drill programs, to ensure best practice in the sampling and analysis of the drill core, which includes the insertion of blind blanks, duplicates and certified standards into 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 Martiniere field camp in Central Quebec. Drill core samples are transported in sealed bags to ALS Minerals' Val d'Or, Quebec analytical facilities. Gold analyses are obtained via industry standard fire assay with atomic absorption finish using 30 g aliquots. For samples returning greater than 5.00 g/t gold follow-up fire assay analysis with a gravimetric finish is completed. The Company has also requested that any samples returning greater than 10.00 g/t gold undergo screen metallic fire assay. Following receipt of assays, visual analysis of mineralized intercepts is conducted and additional analysis may be requested. ALS Minerals is ISO 9001:2008 certified and the Val d'Or facilities are ISO 17025 certified for gold analysis.

Balmoral Resources Ltd. Reports Results for the First 9 Holes on Martiniere Property

Balmoral Resources Ltd. reported results for the first 9 holes from recently completed winter 2015 drill program on the company's wholly owned Martiniere Property. The Martiniere Property forms part of the company's 700+ square kilometre Detour Trend Project and is located approximately 40 km west of Balmoral's Grasset Ni-Cu-PGE discovery. Results were highlighted by intercepts of 19.55 g/t gold over 44.45 metres, including 34.84 g/t gold over 24.14 metres in hole MDE-15-166, one of the strongest intercepts to date from the Footwall Zone, and 4.28 g/t gold over 53.78 metres from the combined Lower Bug Lake and Footwall Zones in hole MDE-15-73, including 7.01 g/t gold over 22.48 metres through the Footwall Zone. Drilling also intersected a 2.10 metre interval of high-grade copper-zinc-silver-gold mineralization which, while incorporated into the later Bug Lake mineralized system, is interpreted to be associated with the adjacent Martiniere East VMS system. Hole MDE-15-172 intersected 2.10 metres grading 1.52% Cu, 4.20% Zn, 29.44 g/t Ag and 2.79 g/t Au from a semi-massive sulphide interval incorporated into a brecciated phase of the Upper Bug Lake Gold Zone. The metal suite and associated trace elements are atypical of the Bug Lake Gold Trend and of clear VMS affinity. They would represent by far the strongest base metal results to date from the Martiniere East area. Today's intercept provides a positive indication that the Martiniere East VMS system, and by inference VMS systems within the broader Detour Trend land package which have not been a primary focus of exploration targeting, are capable of producing base metal grades of economic interest similar to those observed in the nearby Selbaie and Mattagami camps.


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