Balmoral Releases Final Results from Grasset Drill Program

Balmoral Resources Ltd. (TSX:BAR,OTCQX:BALMF) announced final results from the winter 2015 Grasset drill program, noting that it targeted extensions of the Horizon 3 (H3) nickel-copper-PGM discovery.

The company also released results from three holes drilled at the H3 discovery for metallurgical testwork.

As quoted in the press release:

Results are highlighted by the continued expansion of both the Horizon 1 (‘H1′) and H3 sulphide zones to over 1,050 and 590 metres along strike respectively. Ni-Cu-PGE sulphide mineralization has now been intersected to a vertical depth of 525 metres along the projection of H3.

Assay results are highlighted by a broad, high-grade intercept of 97.11 metres grading 1.10% Ni, 0.13% Cu, 0.24 g/t Pt, 0.61 g/t Pd and 0.17 g/t Au in metallurgical hole GR-15-81M, which included an intercept of 17.01 metres grading 2.77% Ni, 0.38% Cu, 0.69 g/t Pt, 1.76 g/t Pd and 0.81 g/t Au. Hole GR-15-81M intersected H3 approximately 10 metres below previously released hole GR-14-33. GR-15-81M shows a significant improvement in grade over hole GR-14-33 which had returned 99.95 metres grading 0.95% Ni, 0.11 % Cu, 0.21 g/t Pt, 0.48 g/t Pd and 0.07 g/t Au, including 9.80 metres grading 2.73% Ni, 0.33% Cu, 0.68 g/t Pt, 1.64 g/t Pd and 0.11 g/t Au (see NR14-19, Aug. 18, 2014).

Holes GR-15-82M and GR-15-83M, which intersected H3 12 metres above and 20 metres below previously reported hole GR-14-60 respectively, both returned similar mineralized intervals but higher average nickel, copper and PGE grades across the width of H3 than those observed in GR-14-60.

Drilling along strike and down dip from the high grade zone on H3, and along H1, continued to intersect broad zones of disseminated nickel-copper-PGE bearing sulphide mineralization extending the scale of the mineralized system. The system remains open to the northwest and to depth along both horizons. High grade nickel sulphide mineralization was intersected along H1 in hole GR-15-79A – 2.30% Ni, 0.29% Cu, 0.37 g/t Pt and 2.02 g/t Pd over 0.67 metres in a semi-massive sulphide horizon. This higher grade H1 mineralization may correlate with similar semi-massive to massive sulphide Ni-Cu-PGE mineralization observed in hole GR-14-17, (3.69% Ni, 0.23% Cu, 0.53 g/t Pt and 1.23 g/t Pd over 1.46 metres; see NR14-07, March 5, 2014) located approximately 125 metres to the northwest. The high-grade intercept in GR-15-79A is located approximately 160 metres east of the central portion of the H3 Zone.

Darin Wagner, president and CEO of Balmoral, commented:

The winter drill program continued to expand the H3 and H1 sulphide zones and provided a new high grade target located along H1. We will now move into delineation and evaluation of the H3 high-grade zone while continuing to target additional high-grade mineralization along H3, H1 and throughout the 16+ kilometre long Grasset Ultramafic Complex. We remain in the early days of defining the potential of the Complex and the district but the H3 discovery provides a core asset and focal point for all future discoveries in the area.

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