2015 exploration on Balmoral’s Fenelon Property will focus on the Grasset Ultramafic Complex located on the eastern portion of the Property. The Company’s success in 2014 and early 2015 in delineating a promising new zone of nickel-copper-PGE mineralization within the Complex on the adjacent Grasset Property led to initial testing of the GUC on the Fenelon Property in early 2015. Several new occurrences of nickel-copper-PGE mineralization, and one new occurrence of high-grade gold mineralization, where identified during this program and are key targets for follow-up. In addition several untested EM and IP targets exist on the Property along the projected trend of the GUC.
Drilling and underground development completed to date on the Discovery Zone has demonstrated the presence of a very high-grade gold system characterized by sub-vertically oriented, free gold bearing shears hosted within an ultramafic host which may be part of the larger GUC. While the Company has no immediate plans for additional testing of the Discovery Zone it has been actively re-evaluating both gold and base metal opportunities on the Property and may seek a partner to further develop the Discovery Zone.