Balmoral Resources’ (BAR-V) hunt for a third elephant in close proximity to the Detour Gold mine and the Canadian Malartic mine continues with its latest assays results.
The company reported a number both lower grade longer intercepts and higher grade intercepts from expansion drilling on the West Gold zone at its Martiniere project in Quebec.
The assays are from the final eight holes of its winter drill program and were highlighted by 34.43 metres grading 1.15 grams gold; 20.3 metres grading 0.96 grams gold; 7.46 metres grading 2.68 grams gold and 0.97 metres grading 34.5 grams gold
All eight of the holes returned mineralization and Balmoral says the results expand the vertical, horizontal and down-plunge components of the West Zone.
The zone has now been extended along strike to over 375 metres, intersected to a vertical depth of over 250 metres and down plunge for over 340 metres and it remains open in all directions.
In addition to intersecting the West zone at depth, four holes that were collared northwest of the zone returned broad, near surface intersections of anomalous gold highlighted by intercepts of 63.4 metres grading 0.41 grams gold and 12.65 metres grading 1.93 grams gold.
The intercepts ranged from 13.40 to 18.10 metres in down-hole thickness and occur in an area of the property which had not been tested by previous drilling, the company says.
Martiniere is made up of the West Zone as well as the Central and East Zones. The three zones stretch out over 1.5 km in an east/westerly direction.
The project sits just east of Osisko Mining’s (OSK-T) Canadian Malartic mine. Balmoral also has the Detour East project which sits between Malartic and Detour Gold’s (DGC-T) Detour Gold mine.
Drilling at Detour East is also underway and Balmoral says that its program is aggressive enough to meet its requirements to attain a 51% interest in property roughly a year ahead of schedule.
In Toronto on June 13, Balmoral shares were up 6% or 3¢ to 56¢ on 75,000 shares traded. The company’s shares have moved between 50¢ and $1.47 over the last 52-weeks.