Balmoral Confirms High-grade Nickel-Copper-PGMs Mineralization at Grasset

Balmoral Resources Ltd. (TSX:BAR,OTCQX:BALMF) confirmed that it has discovered high-grade nickel-copper-platinum-group metals (PGMs) mineralization associated with a net textured sulfide zone in hole GR-14-25, located at its Quebec-based Grasset property.

As quoted in the press release:

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.

Hole GR-14-25 is the first hole on the property to intersect Horizon 3 of the Grasset Ultramafic Complex. 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.

Darin Wagner, president and CEO of Balmoral, commented:

The broad, high-grade nature of the Grasset Ni-Cu-PGE discovery provides Balmoral with a second exciting, near-term growth opportunity in Quebec. 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 precious and base metal sectors.

Click here to read the full Balmoral Resources Ltd. (TSX:BAR,OTCQX:BALMF) press release.