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Balmoral Resources Ltd
Symbol BAR
Shares Issued 102,846,932
Close 2014-10-07 C$ 1.38
Market Cap C$ 141,928,766
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Balmoral drills 7.99 m of 12.5 g/t Au at Martiniere

2014-10-08 07:36 ET - News Release

Mr. John Toporowski reports

BALMORAL RESOURCES (TSX:BAR) INTERSECTS 12.5 G/T GOLD OVER 7.99 METRES, BUG LAKE SOUTH, DETOUR GOLD TREND PROJECT, QUEBEC

Balmoral Resources Ltd. has released results from the first six holes of the summer 2014 drill program on the company's wholly owned Martiniere property. All six holes tested the southern extension of the Bug Lake zone, intersecting high-grade gold mineralization along the upper contact of the Bug Lake porphyry. Today's results further demonstrate the continuity of the Bug Lake system. Results were highlighted by intercepts of 12.50 grams per tonne (g/t) gold over 7.99 metres, including 132.50 g/t gold over 0.72 metre in drill hole MDE-14-147 and 5.23 g/t gold over 7.28 metres in drill hole MDE-14-149. The southern extension of the Bug Lake zone has been intersected for 650 metres along strike and remains open to the south and to depth.

In addition, the company has confirmed a new discovery -- the HW porphyry zone -- which occurs along the lower contact of a northeast-striking, southeast-dipping porphyry sill located east of the Bug Lake zone. This new zone appears to be open in all directions and features results of 5.11 metres grading 4.32 g/t gold in MDE-14-147 and 2.89 metres grading 12.30 g/t gold in MDE-14-149.

Additional vein-style gold mineralization continues to be intersected in the hangingwall and footwall to the main Bug Lake zone. The north-south-trending Bug Lake zone locally transects northeast-striking, strata-bound massive sulphide units both to the east and west of the zone. Gold-bearing intercepts associated with these sulphide horizons exhibit strongly elevated silver (3.5 to 92.1 g/t) and zinc (0.1 to 1.4 per cent) values, suggesting potential for polymetallic subzones within the broader Bug Lake system.

Fourteen additional holes, completed along the northern segment of the Bug Lake zone, remain pending.

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