The release said that the staking includes the acquisition of two new properties – Goblin and Ghost.
Balmoral Resources (TSX:BAR) has announced that it has staked an additional 697 claim units in the Lumby Lake greenstone belt in Ontario. The newly acquired claims increase Balmoral’s holdings in the belt by more than 16x, making it the dominant land holder.
The release said that the staking includes the acquisition of two new properties – Goblin and Ghost. The expanded land position covers all or portions of at least 21 mapped and interpreted ultramafic volcanic and intrusive bodies, only one of which has ever been drill tested.
President and CEO of Balmoral, Darin Wagner said:
“The recent discovery of magmatic nickel-copper-cobalt sulphide mineralization on the Gargoyle property enhances the potential for the extensive suite of ultramafic rocks in the Lumby Lake belt to source additional nickel sulphide discoveries. This in an area with obvious logistical advantages to most of the current nickel sulphide focused exploration efforts globally. We are very excited to be the “first mover” in this belt following the discoveries and to have secured the vast majority of the prospective ultramafic sequence.”