Balmoral Commences Airborne Geophysical Survey of Grasset Nickel Trend, Detour Project, Quebec
August 6, 2014 (Source: Marketwired) — Balmoral Resources Ltd. (TSX: BAR) (OTCQX: BALMF) (“Balmoral” or the “Company“) announced today that it has commenced a low-level, high-resolution, airborne electromagnetic (“EM”) survey, which will target additional occurrences of nickel-copper-PGE mineralization within the Grasset Ultramafic Complex (“GUC”). The southern end of the GUC hosts Balmoral’s high-grade Grasset nickel-copper-PGE discovery. The GUC trends northwest for over 16 kilometres from the discovery area and this will be the first modern low-level airborne survey over the bulk of the GUC.
The current airborne survey will utilize Geotech Ltd.’s state of the art VTEMPlus helicopter EM and magnetic gradiometer system. Data from a similar VTEM survey, collected along the southern margin of the GUC in 2011 by Balmoral, played a key role in the Grasset nickel discovery and in gold discoveries in the Grasset and Martiniere areas of the Detour Trend Project.
In addition to the Grasset Nickel Trend (Grasset-Fenelon-Jeremie South and Jeremie Properties), the survey will cover recently acquired additions to the Grasset Property, as well as the Lac Fleuri and Nantel claim blocks located east and south of the Grasset discovery respectively. The planned survey will include approximately 2,800 line kilometres of data collection and, subject to weather conditions, will be completed over the next two weeks. Final data products are expected to be available to the Company late third quarter or early fourth quarter 2014.
Drilling continues on both the Grasset and Martiniere Properties, which form part of the Company’s wholly owned, 700+ square-kilometre Detour Trend Project located in central Quebec.
Mr. Darin Wagner (P.Geo.), President and CEO of the Company, is the non-independent qualified person who has approved the scientific and technical information contained in this news release.
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.
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On behalf of the board of directors of
BALMORAL RESOURCES LTD.
President and CEO
This press release contains forward-looking statements and forward-looking information (collectively, “forward looking statements”) within the meaning of applicable Canadian and United States securities laws. All statements, other than statements of historical fact, included herein, including statements regarding the anticipated closing of the Offering and the use of proceeds of the Offering are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate, similarities and similar expressions or are those which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward-looking statements. Important factors that could cause actual events and results to differ materially from the Company’s expectations include those related to weather, equipment and staff availability; performance of third parties; risks related to the exploration stage of the Company’s projects; market fluctuations in prices for securities of exploration stage companies and in commodity prices; and uncertainties about the availability of additional financing; risks related to the Company’s ability to identify one or more economic deposits on the properties, and variations in the nature, quality and quantity of any mineral deposits that may be located on the properties; risks related to the uncertain nature and interpretation of geophysical models, risks related to the Company’s ability to obtain any necessary permits, consents or authorizations required for its activities on the properties; and risks related to the Company’s ability to produce minerals from the properties successfully or profitably. Trading in the securities of the Company should be considered highly speculative. All of the Company’s public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the latest technical reports filed with respect to the Company’s mineral properties.
Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release.
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