GTA Resources and Mining (GTA) has reported Vancouver-based Balmoral Resources that the drill campaign has been restarted at the Northshore property, which is situated in the Hemlo-Schreiber greenstone belt in Ontario. The company’s phase II drill program will include a minimum of 5,000 m, totaling about 20 diamond drill holes.
The drill program will additionally extend the high-grade Caly and Audney vein systems and Afric gold zone. Drilling conducted by GTA has validated the occurrence of mineralized gold related to the wide Afric gold zone for 280 m towards east-west direction and to depth of more than 300 m vertically. The mineralized corridor stays exposed to depth and towards the northern, western and eastern parts.
The company has encountered 1.41 g/t gold over 240.00 m in hole WB-12-17 and 0.90 g/t gold over 143.00 m in hole WB-12-15 drilled at the Northshore property. Many high-grade intercepts of gold have been encountered in the Caly and Audney vein systems, including 12.49 g/t gold over 33.80 m and 13.23 g/t gold over 6.50 m, respectively.
According to Balmoral’s CEO and President, Darin Wagner, the company’s shareholders stand to benefit significantly during this fall with the resumption of drilling at Northshore, and the success of the current drill program and exploration efforts at the Martiniere property located in Quebec.
Under the terms of first option earn-in demands based on an option contract declared on 27 July 2012, GTA is funding the exploration work carried out at the Northshore property.
Balmoral Resources focuses on discovering precious metal and gold opportunities in North America.
Source: http://www.balmoralresources.com/
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