Mr. Darin Wagner reports
BALMORAL REPORTS 124.50 METRES GRADING 1.05 G/T GOLD FROM AFRIC GOLD DEPOSIT, NORTHSHORE JOINT VENTURE, ONTARIO
Balmoral Resources Ltd. has received, from joint venture partner GTA Resources and Mining Inc., results from three drill holes completed on the Northshore property located near Schreiber, Ont., late in 2018.
Two holes tested the Afric gold deposit beneath the previously outlined resource, successfully expanding the deposit and leaving it open for additional delineation at depth, in particular to the east and northeast. The Afric gold deposit continues to demonstrate significant mineralized widths to depth, highlighted by an intercept of 124.50 metres grading 1.05 grams per tonne gold (0.86 g/t gold cut) in hole WB-18-54.
As with previous drilling this broad mineralized envelope includes a high-grade core, which returned 7.00 metres grading 11.15 g/t gold (7.65 g/t gold cut), including 1.00 metre grading 56.50 g/t gold. This intercept extends the high-grade core of the deposit by approximately 100 vertical metres in the area tested. The deposit and the high-grade core have now demonstrated continuity to a little over 250-vertical-metre depth, the deepest level tested to date at Northshore.
"We are pleased to see the expansion of the Afric gold deposit, and in particular to see the continuity being demonstrated by the higher grade component of the deposit at depth," said Darin Wagner, president and chief executive officer of Balmoral.
DDHFrom To Interval m*Gold g/t Cut grade** gold g/tWB-18-53 (528 m) 189.00 190.50 1.50 4.32 225.00 234.00 9.00 0.72 286.50 297.0010.50 0.95 325.00 332.00 7.00 0.41 439.75 444.00 4.25 0.67WB-18-54 (531 m) 190.50 315.00 124.50 1.05 0.86including262.50 303.0040.50 2.53 1.93which includes 294.00 301.00 7.0011.15 7.65which includes 300.00 301.00 1.0056.5032.00 WB-18-55 (102 m) No significant values* Reported drill intercepts are not true widths. Insufficient data are available to calculate true orientations at this time.** Assays over 32.0 g/t gold have been cut to 32.0 g/t gold (this appliesto one sample in hole WB-18-54 only, which assayed 56.5 g/t over 1.0 m).
The third hole of the program, WB-18-55, tested an exploration target outside the Afric gold deposit and outside the host intrusive unit.
Future work on the Northshore property will be reviewed by the joint venture following completion of the sale of GTA's mineral property assets, which remains pending.
About the Northshore property
The Northshore property is a resource stage gold property located in Priske township, Ontario, immediately south of the town of Schreiber and three kilometres south of the Trans-Canada Highway. The property hosts a number of known zones of gold mineralization including the former producing North Shore mine and the Afric gold deposit, the latter the current focus of activity. Located in the Hemlo-Schrieber greenstone belt approximately 70 kilometres west of the world-class Hemlo gold deposit, the structurally controlled, intrusive-hosted gold mineralization on the Northshore property shares similarities with gold deposits in the Kirkland Lake and West Timmins areas of Ontario.
The Northshore property is a joint venture between Balmoral and GTA. GTA is the current operator of the joint venture and holds an approximate 54-per-cent interest in the property with Balmoral holding the remaining 46 per cent.
Quality control and assurance
GTA has implemented a quality control program for the drill programs on the Northshore property to ensure best practice in sampling and analysis. GTA maintains strict quality assurance/quality control protocols including the systematic insertion of certified standard reference and blank materials into each sample batch. Analyses in this release were performed by AGAT labs in Thunder Bay and Mississauga, Ont., with ISO 17025 accreditation. Samples were transported in sealed bags to AGAT and all samples were assayed using industry-standard assay techniques for gold. Gold was analyzed by a standard 30-gram fire assay with an AA and/or gravimetric finish.
Wayne Reid, PGeo, director and vice-president of exploration for GTA and a qualified person as defined in National Instrument 43-101, was involved in the planning, execution and monitoring of GTA's exploration program at Northshore.Darin Wagner, PGeo (Ontario, British Columbia, restricted permit Quebec) has reviewed the technical information contained herein on behalf of the company.
About Balmoral Resources Ltd.
Balmoral is a multiaward-winning Canadian-focused exploration company actively exploring a portfolio of gold and base metal properties located within the prolific Abitibi greenstone belt. The company's flagship, 1,000-square-kilometre Detour gold trend project hosts the resource stage Bug and Martiniere West gold deposits and the Grasset nickel-copper-cobalt-PGE (platinum group element) deposit. Employing a drill-focused exploration style in one of the world's pre-eminent mining jurisdictions, Balmoral is following an established formula with a goal of maximizing shareholder value through the discovery and definition of high-grade, Canadian gold and base metal assets.
We seek Safe Harbor.
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