Darin Wagner, CEO Balmoral Resources at the World Investment Conference in Vancouver
Balmoral Resources, founded in 2010, is now aggressively expanding a series of high-grade gold discoveries which occur on their 85 kilometer long Detour Trend project in the heart of Quebec’s Abitibi Gold Belt.
Focused on gold exploration and development, Balmoral Resources is drilling aggressively on their gold targets located in the Abitibi belt in Quebec. Said Darin Wagner, CEO of Balmoral Resources, “We put Balmoral together about a year and a half ago and have about 85 kilometers of ground.” The holdings of the company are part of the historically productive Sunday/Detour Lake deformation zone along which the massive Detour Gold deposit occurs and the belt hosts several multi-million ounce gold camps including the , Casa Berardi, Timmins, Kirkland and Val-D'Or gold mining camps.
Over that short amount of time, Balmoral has accomplished a lot, finding several gold targets that hold high potential. Wagner said, “We have made eight high grade gold discoveries in Quebec.” These discoveries hold promise for the future of the company and speak to the under-explored nature of this portion of the belt. Said Wagner, “Our high-grade discoveries in the Martiniere area have already become the second largest accumulation on gold along the Detour Trend and they continue to expand with virtually every hole..” What they have found has been significant enough that major gold producers are now taking note of their progress. Wagner said, “We have had interest from some of the big players in the area.”
Balmoral has a historic resource base of just under 1.0 million ounces and as they continue to expand this base and look for new opportunities to add to it; the most promising area of work is the Martiniere system. Said Wagner, “The obvious highlight of our work on the Detour Trend is the discovery of the Martiniere gold system. This open-ended, high-grade gold system resembles those throughout the Abitibi which have ended up with high-grade resources and head frames on top of them.” Wagner indicated that the Martiniere West Zone is currently averaging north of 11 g/t (or 1/3 of an ounce of gold)
Why is this so significant for the company? Really for two reasons, first the grade of the discovery makes it stand out in a world of 1 to 2 g/t gold deposits. Secondly this new find appears to mark a new gold bearing system in a belt which is home to over 100 historic high-grade gold producers. Said Wagner, “The Martiniere System/Trend is one of the first new gold-bearing systems found in the Abitibi in the last ten years.”
In addition to the Martiniere discovery, Wagner feels that they have other options in the area and that Martiniere is just the beginning of what they will be able to find. He said, “We have a number of opportunities in that belt. We've only explored about 5% of that area we hold.” Over time, Balmoral Resources is looking to continue to explore in that same area. Said Wagner, “We are looking to add more opportunities to that area, having demonstrated its potential.” The management team of Balmoral Resources has had experience in this type of exploration and discovery before. Said Wagner, “We are in the same position we were with West Timmins mining about three years ago, having made a high-grade gold discovery in a tough market – but that worked out pretty well for our investors and we are confident Balmoral will as well.”
In order to keep moving forward with their corporate growth strategy, Wagner said they are prepared to continue drilling through the months ahead. Said Wagner, “We have launched our summer drill program after a highly successful winter program.”
Helping with Balmoral Resource's progress in the area is their positive level of financing, which is providing them with options as they continue to explore the region and the vast amount of land they have been working on. Said Wagner, “We are well financed and are in position to remain aggressive with the drills in the second half of the year.”
In order to continue to expand the Company and its resource portfolio, Balmoral Resources has created partnerships to maximize their efforts. Said Wagner, “We have partnered out our North Shore project in Ontario.” The results have been exceptional and have created enthusiasm in those working in the area. Said Wagner, “Our initial results from Northshore have captured the imagination of the market. We’ve had good cooperation with our partner GTA Resources to date and look forward to additional drill results from Northshore.” The results include intercepts that are relatively close to the surface with very promising numbers. Said Wagner, “We have intercepts between 120 to 240 meters in the gram to gram and a half area. So broad widths, at good grade, which speak to the potential to add significantly to the historic resource base and further expand the gold system at Northshore.”
One of the things that makes Balmoral Resources different from other companies is the level of experience and accomplishments enjoyed by the management team. Said Wagner, “We have a very experienced team. They have been successful in financing, doing business and closing deals.” In addition to their proven success, Balmoral Resources has the attitude that they are going to succeed, a critical mindset in today's challenging mining economy. Wagner said, “We are always one hole away from success.”
Balmoral also provides potential investors with an assurance that they are working in an area that is favorable to exploration and mining operations. Said Wagner, “We have seen a lot of uncertainty in Africa and Argentina and other places, but we work in Quebec. Not only is it one of the most favourable jurisdictions to work in but we will get a large tax credit/refund this year through the Quebec government’s exploration incentive programs. It is an exceptional place to work.”
With a solid focus on gold exploration and development that is geared toward creating value for shareholders in one of the most mining friendly jurisdictions in the world, Balmoral Resources is successfully exploring a significant amount of land in the Detour Lake region. An experienced management team as well as the support of local production companies has put Balmoral Resources in an enviable position for the near term. Poised for success, Balmoral Resources has already identified eight new targets that continue throughout their 85 kilometer holding in Quebec. Flanked by major production companies, the Balmoral Resources management team believes that they have a world-class opportunity that may be attractive to major producers in the future. Clearly it seems, Balmoral Resources is poised for success.
Balmoral Resources Ltd.
Suite 2300 - 1177 West Hastings Street
Canada V6E 2K3
Toll Free: 1-877-838-3664
John Toporowski, Manager, Corporate Development