Balmoral Resources Ltd (TSE:BAR) has hit two new shallow zones of gold mineralisation at its Bug North and Lower Steep gold deposits in Quebec. The company has also hit its deepest high grade results to date at the Martiniere project.
Chief executive Darin Wagner struck a seasonal note in describing his pleasure at being able to announce such good news.
“Today’s results are like that gift that arrives in the mail after Christmas from your favorite relative – worth waiting for and a great way to usher in the New Year,” he said.
“We got a very good bang for our drill dollars from these holes with two new shallow gold discoveries, extensions to the Bug North and Lower Steep gold deposits, continued confirmation of the ME-23 Zone and our deepest high-grade gold intercepts to date.”
Among the best near-surface intercepts at Bug North was 5.8 metres of 10.51 grams per tonne gold.
Shares in Balmoral have doubled over the past 12 months and are currently trading at C$0.71.
Story by ProactiveInvestors