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May. 21, 2014 07:54AM PST
Balmoral Resources Ltd. (TSX:BAR,OTCQX:BALMF) has confirmed discoveries of high-grade nickel-copper-platinum-palladium mineralization. The discovery relates to a net textured sulphide zone in hole GR-14-25 previously announced on April 30 2014.
Balmoral Resources Ltd. (TSX:BAR,OTCQX:BALMF) has confirmed discoveries of high-grade nickel-copper-platinum-palladium mineralization. The discovery relates to a net textured sulphide zone in hole GR-14-25 previously announced on April 30 2014.
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.
Balmoral CEO, Darin Wagner, said:
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 Balmoral Resources Ltd. (TSX:BAR) press release
