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Balmoral Resources Starts Drilling at Grasset Nickel-Copper-Cobalt-PGE Deposit in Quebec

Balmoral Resources Ltd. has reported that drilling has been initiated to expand its new high-grade nickel-copper-cobalt-PGE sulfide discoveries within the central part of the Grasset Ultramafic Complex located in Quebec.

Location map showing the location of the Grasset nickel-copper-cobalt-PGE deposit and the new discoveries approximately 7 kilometers to the northwest. (Image credit: Balmoral Resources Ltd.)

The recent high-grade nickel sulfide discoveries are situated 7 km northwest of, and along strike from, Grasset multi-million ton nickel-copper-cobalt-platinum-palladium deposit of Balmoral Resources.

Several new nickel-copper-cobalt-PGE occurrences inside the ultramafic volcanic facies of the Grasset Ultramafic Complex were discovered through the drilling operation conducted in late 2018. Results were emphasized by an intercept of 7.58 m grading 0.48 g/t palladium, 0.20 g/t platinum, 0.05% cobalt, 0.31% copper, and 1.05% nickel. This also included a large sulfide intercept grading 1.93 g/t palladium, 0.81 g/t platinum, 0.18% cobalt, 0.26% copper, and 4.14% nickel over 0.65 m, from one among the four recent discoveries, each of which returned more than 1% nickel.

Through a follow-up geophysical work, it was believed that several adjacent EM anomalies, inferred to represent continuations of the huge sulfide intervals, were intersected. During the present round of testing, a minimum of two of these geophysical anomalies will be targeted.

We are excited to begin the process of evaluating the recent nickel sulphide discoveries made by the team within the GUC and by the potential they hint at for the balance of the belt going forward. The goal of this program is to determine the controls on the new discoveries so we can quickly expand them and move to target additional nickel sulphide mineralization of this type throughout the belt.

Darin Wagner, President and CEO, Balmoral Resources.

About 1,500 m of drilling has been scheduled in the Central Grasset Ultramafic Complex area at the time of the current program. After the completion of this phase of testing, decisions regarding upcoming geophysical work and drill plans in this region will be made. Moreover, Balmoral Resources has proposed that it has now filed its 2019 Annual Information Form on SEDAR.

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