(Vancouver, October 23, 2014) Balmoral Resources Ltd. (“Balmoral” or the “Company”) (TSX: BAR; OTCQX: BALMF) is pleased to announce that Balmoral’s exploration team has been recognized, for the second consecutive year, as the “Prospectors of the Year” in the Province of Quebec. The Company was recognized this year for the discovery of the Grasset Ni-Cu-PGE system, after winning the award in 2013 based on the Bug Lake and related gold discoveries on the Company’s nearby Martiniere Property. Balmoral is the first company to receive the award in two consecutive years, and only the second two time winner of the award. The award was presented last evening at the annual Association de L’Exploration Miniere du Quebec (“AEMQ”) awards ceremony in Montreal, Quebec.
The Grasset nickel-copper-platinum-palladium discovery is located in west-central Quebec, 55 kilometres west of Mattagami and 40 kilometres east of the Bug Lake/Martiniere Gold system. To date, the Company has intersected broad zones of Ni-Cu-PGE mineralization in two horizons, for up to 840 metres along strike. Results have been highlighted by intercepts of 45.28 metres grading 1.79% Ni, 0.19% Cu, 0.42 g/t Pt, 1.04 g/t Pd and 44.79 metres grading 1.53% Ni, 0.16% Cu, 0.37 g/t Pt and 0.86 g/t Pd. The Company recently announced a doubling of both the along strike and at depth extent of the recent Horizon 3 discovery (see NR14-22, Oct. 1, 2014). The Grasset Ni Zones occur at the southern end of a 16 kilometre long intrusive complex which is wholly controlled by the Company and is the focus of on-going exploration activities.
“Being presented with an award by one’s peers is the highest form of compliment and we thank the members of the AEMQ for bestowing this honour on us. I cannot describe how proud I am to represent a team that has been able to receive this award in consecutive years, and in 2 of its first 4 years of active exploration in the province” said Darin Wagner, President and CEO of Balmoral. “Making one significant discovery is the goal of every exploration team. To have made two discoveries like Bug Lake and Grasset, in such a short time period, speaks volumes about the skills and unparalleled work ethic of our Vice-President, Exploration Richard Mann and his team, and about the tremendous, untapped potential of our Detour Trend Project in Quebec.”
Balmoral would also like to thank its exploration partners, including Norex Drilling, Expedition Helicopters and Camp Services, Outland Camp Services, ALS-Chemex, Equity Exploration Consultants and Gestion Aline Leclerc, who made significant contributions to the Company’s exploration success at Grasset in 2014. The Company also expresses its gratitude to the Cree First Nations of Waskaganish and Washaw Sibi for their continued support of the Company’s exploration activities.
Awarded annually by the AEMQ, the Prospector of the Year Award is presented to a new discovery that produces a significant ripple effect on exploration activities both on the property itself and throughout the surrounding area.
For additional details on the Grasset Nickel Discovery, the Bug Lake Gold Zone and the Company’s 700 square kilometre Detour Trend Project please visit www.balmoralresources.com. The summer/fall drill program on the Project has recently been completed and results from 40 diamond drill holes remain pending. Drilling is anticipated to resume in late 2014 or early 2015.
About Balmoral Resources Ltd. — www.balmoralresources.com
Balmoral is a Canadian-based discovery company focused on high-grade gold and nickel discoveries on its wholly owned, 700 square kilometre Detour Trend Project in Quebec, Canada. With a philosophy of creating value through the drill bit and a focus on proven productive precious/base metal belts, Balmoral is following an established formula with a goal of maximizing shareholder value through discovery and definition of high-grade, Canadian gold and base metal assets.
On behalf of the board of directors of
BALMORAL RESOURCES LTD.
“Darin Wagner”
President and CEO
For further information contact:
John Toporowski, Manager, Corporate Development
Tel: (604) 638-5815 / Toll Free: (877) 838-3664
E-mail: jtoporowski@balmoralresources.com
For the forward-looking statements and the original source of the news release, click here: http://www.balmoralresources.com/s/NewsReleases.asp?ReportID=679900&_Type=News-Releases&_Title=Balmoral-Named-Prospector-of-the-Year-in-Quebec-for-Second-Consecutive-Year%20title=