Balmoral Resources Ltd.'s (BAR:TSX; BALMF:OTCQX) drill program continues to extend the Bug South deposit on the Martiniere property. The company announced in July that the Bug South deposit was extended to a vertical depth of about 385 meters "with a broad intercept of 14.28 meters grading 3.51 g/t gold, including a very high grade interval of 0.46 metres grading 66.60 g/t gold."
Balmoral CEO Darin Wagner said, "The summer program is now in full swing. It is designed to continue the growth of the Bug Lake gold deposits, while also exposing our shareholders to the broadest range of discovery opportunities since 2014 when the Grasset discovery resulted in significant share price appreciation."
Wagner also noted that "gold exploration targets throughout the Martiniere Property, and the broader Detour Gold Trend Project, are on tap for drill testing. This includes a number of targets located on the Detour East Property which covers over 20 kilometres of the same geological environment which hosts the multi-million ounce Detour Lake gold mine on adjoining property to the west."
Sector experts have taken notice of Balmoral's drill results.
Byron King, editor of Gold Speculator, noted on Aug. 1 that Balmoral "did release several strong sets of drill results in recent weeks. There's much going on in the field." He also stated that "Balmoral is an attractive joint venture or takeover target for larger companies. The company is finding gold and building a resource base."
Louis James, editor of International Speculator, told The Gold Report in May that an "explorer I like is Balmoral. . .[it's] a pure explorer with people who have track records of repeated success. It has two highly prospective projects right now that I like a lot."
Brien Lundin, editor of Gold Newsletter, wrote in the July issue that the "picture of a large, dispersed area of gold deposits continues to develop at Martiniere. It will take more drilling to move the needle here, but Balmoral is definitely a company worth watching in the months ahead."
Balmoral is expected to continue to release results from the summer drill program.
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