Balmoral Resources Ltd. reported that after the recent discovery of precious metal-rich nickel sulfide mineralization on its RUM North Property, it has obtained by staking three new nickel sulfide targets akin to the intrusion hosting the Bluenose discovery.
The company presently controls 15 individual ultramafic intrusive targets, enclosed by six individual properties, in the Lac Rocher nickel district in Central Quebec.
Based on the examination of the geophysical signature of the intrusion hosting the nickel-copper-gold-platinum-palladium mineralization at Bluenose, Balmoral Resources has staked two new properties—RUM Northwest and West—and additionally expanded the RUM North property to obtain control of three similar geophysical anomalies outside its current property holdings. Weather and time permitting, Balmoral Resources plans to carry out initial field examinations of each of these new targets this fall and also additional follow-up work on the Bluenose discovery.
Bluenose Zone Follow-up
The exploration team of Balmoral Resources has also recently gathered a series of extra samples from the sulfide mineralized outcrop at the Bluenose discovery. Hand stripping and mapping have effectively expanded the sulfide mineralized zone across the existing outcrop exposure, a distance of about 10 m across interpreted strike. The mineralized outcrop then slopes into more heavily overburden-covered areas which may, at least partly, be agreeable to mechanical stripping. Samples have been surrendered for assay and results are expected in about four to six weeks.
Area 52 Gold Target Drill Program, Detour Gold Trend Project, Quebec
Balmoral Resources also announced that it has currently finished the first phase of drilling of the Area 52 Gold Target and has already received board support and contracted with its service providers to resume drilling work in early September. Altogether, four drills holes were finished totaling 2,148 m, along the estimated extension of the Area 51 gold corridor and the regional scale Sunday Lake Deformation Zone.
Mineralized zones (shear zone related, vein-hosted quartz/sulfide mineralization) were noticed in all four holes over widths differing from one to tens of meters. The detected mineralized zones, in three of the four holes, correlate well with the geological location of the Area 51 gold mineralization lately discovered on the neighboring Fenelon Mine Property.
The fourth hole tested a separate target situated along the Sunday Lake deformation zone which was identified by the company’s latest geophysical work. Altogether, more than 1,400 samples have been submitted for assaying. Results will be announced after the results from all four holes have been received and appraised.
The Area 52 target is situated on the company’s Fenelon Property, part of its regional scale Detour Gold Trend Project in west-central Quebec. Area 52 signifies a formerly untested gold target placed on the intersection of the regional scale Sunday Lake deformation zone—host to the multi-million-ounce Detour Lake Gold Mine—and the newly discovered Area 51 gold corridor. Refer Balmoral Resources’ website for more details on the Area 52 gold target and the Detour Gold Trend Project.
Gargoyle Nickel Project, Ontario
Balmoral Resources has chosen to do the second option payment under the Gargoyle Property Agreement through which it can earn a 100% interest in the Gargoyle nickel property situated near Atikokan, Ontario. The company’s airborne geophysical work at Gargoyle has provided substantial encouragement, with many moderate to strong conductors being established proximal to the newly discovered nickel-sulfide mineralization at Gargoyle.
At Gargoyle, a ground follow-up has been delayed because of the latest discovery of nickel sulfide mineralization at RUM North and the high importance placed on the Area 52 drill program. The company will still try to gather crews on the ground at Gargoyle before the end of the fall season.