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Breaking News Release
Balmoral Intersects 15.09 g/t (0.44 oz/t) Gold Over 5.18 Metres (16.99 Feet) in Bug Lake Zone, Martiniere Property, Quebec
Gold Mineralization Confirmed Over 400 Metre Strike Length at Bug Lake
Hanging Wall Structure Returns 195.50 g/t (5.71 oz/t) Gold over 0.97 Metres (3.18 Feet)
VANCOUVER, BRITISH COLUMBIA--(Oct. 3, 2012) - Balmoral Resources Ltd. ("Balmoral" or the "Company") (TSX VENTURE:BAR)(OTCQX:BALMF) today reported results from 9 drill holes which extend the strike length of the Bug Lake Zone to 400 metres and confirm the presence of significant high-grade gold mineralization along the length of the Bug Lake structure. The Zone remains open in all directions with additional drill results pending. The Martiniere Property forms part of the Companys Detour Gold Trend Project which spans over 82 kilometres along the Sunday Lake Deformation Zone in Quebec. Balmorals holdings adjoin those of Detour Gold who are in the final phases of construction of what will be, according to Detours commentary, Canadas largest gold mine.
Drill results were highlighted by drill hole MDE-12-46, which returned an intercept of 15.09 g/t gold over 5.18 metres including, 1.58 metres grading 44.27 g/t gold (see Table below) from the central portion of the Bug Lake Zone. Hole MDE-12-46 was drilled 61 metres up-dip of hole MDE-11-14 which returned an intercept of 3.60 g/t gold over 7.25 metres (see NR11-31; Dec. 5, 2011). Six of the nine holes included in todays release returned at least one assay result > 20 g/t gold.
Hole MDE-12-39 intersected a bonanza grade structure, which returned an intercept of 195.50 g/t gold over 0.97 metres, in the hanging wall above the Bug Lake Zone at less than 30 metres vertical depth. This structure may be similar to the recent announced bonanza grade Footwall discovery (which returned 273 g/t gold over 3.88 metres; see NR12-19; Aug. 16, 2012). Additional drilling will be necessary to determine the continuity of this new structure.
"Our understanding of the Bug Lake Gold Zone continues to evolve as we expand this new, open-ended gold discovery to the north, to the south and to depth," said Darin Wagner, President and CEO of Balmoral Resources. "We are obviously pleased to see a number of high to bonanza grade gold intercepts from the Zone which suggests potential similar to that observed in the nearby West Zone and Footwall discovery."
Gold Results
Hole
From
To
Interval*
Gold
�
�
Number
(Metres)
(Metres)
(Metres)
(g/t)
�
Sub-Zone
MDE-12-31
20.00
36.04
16.04
0.30
�
Upper Bug
�
74.68
92.16
17.48
0.19
�
Lower Bug
�
109.00
119.80
10.80
0.84
�
Lower Bug
including
111.27
113.00
1.73
3.29
�
"
MDE-12-32
23.00
43.00
20.00
1.24
�
Upper Bug
including
39.34
40.00
0.66
25.70
�
"
�
61.00
69.50
8.50
0.18
�
Lower Bug
MDE-12-33
27.75
39.56
11.81
0.22
�
Upper Bug
�
62.87
77.00
14.13
0.51
�
Lower Bug
MDE-12-39
35.56
36.53
0.97
195.50
�
Hanging Wall
�
50.36
60.00
9.64
1.59
�
Upper Bug
including
56.82
58.00
1.18
6.60
�
"
�
72.00
86.10
14.10
0.87
�
Upper Bug
including
75.30
76.30
1.00
6.36
�
"
�
104.02
153.37
49.35
1.08
�
Lower Bug/Gabbro
including
106.18
106.61
0.43
27.50
�
"
MDE-12-40
68.00
85.60
17.60
0.48
�
Upper Bug
including
80.57
81.55
0.98
5.09
�
"
�
138.70
170.15
31.45
0.32
�
Lower Bug
MDE-12-41
117.00
136.21
19.21
1.32
�
Lower Bug
including
123.75
124.50
0.75
25.70
�
"
MDE-12-42
88.60
107.03
18.43
0.24
�
Upper Bug
�
139.85
141.98
2.13
18.93
�
Lower Bug
including
139.85
140.70
0.85
40.20
�
"
MDE-12-43
66.04
87.40
21.36
1.18
�
Upper Bug
including
68.00
68.80
0.80
20.05
�
"
�
Additional Sampling on-going for Lower Bug sub-zone
MDE-12-46
133.10
146.67
13.57
5.93
�
