Hosts the Grasset Nickel-Copper-Cobalt- PGE Deposit
- Initial Resource Estimate March 2016* :
3.5Mt @ 1.56% Ni, 0.17% Cu, 0.03% Co, 0.34 g/t Pt and 0.84 g/t Pd
- Open to depth for further expansion
- Early Stage Gold and Additional New Base Metal Discoveries
Detour Trend Project, Quebec
- Property covers over 30 kilometres of the Detour/Sunday Lake deformation zone which hosts the 18+ million ounce Detour Gold Deposit.
- Covers the southern margin of the Grasset Ultramafic Complex (“GUC”) which hosts the Grasset Ni-Cu-Co-PGE deposit
- Balmoral holds a 100% interest in the Grasset Property with no underlying royalties.
- Located at the eastern end of Balmoral’s Detour Trend Project the Grasset Property is road accessible and easily serviced from Balmoral’s all season, Fenelon camp which is centrally located between the Grasset Property and the Fenelon Gold Deposit. It is located between 25 and 50 kilometres from railhead in Matagami and within 20 kilometres of the existing hydro-electric grid.
- Initial drill testing by Balmoral on the Grasset Property led to the discovery of a new zone of gold mineralization – Grasset Gold discovery (33 m grading 1.66 g/t gold) which shares similarities with the Detour Gold deposit 80 kilometres to the west in a similar geological setting
- Follow-up drilling discovered a zone of nickel-copper-platinum group metal mineralization located at the southern contact of a 16+ kilometre long sequence of mafic/ultramafic rocks (the GUC) which trend back onto Balmoral’s adjacent Fenelon and Jeremie Properties
- Largely untested Copper-Zinc VMS Potential
- Least explored portion of the Detour Gold Trend Project.
Base Metal Potential
Magmatic Nickel-Copper-PGE Mineralization
The Grasset deposit, discovered by the Company in 2014, represents the first discovery of magmatic nickel-copper-cobalt-pge mineralization in this segment of the belt. Balmoral created an initial resource estimate for the Grasset deposit in March of 2016. Ongoing exploration has confirmed the presence of multiple occurrences of similar style mineralization with the 9 kilometre long Grasset Ultramafic Complex which traverses the Grasset and adjacent Fenelon properties.
There are a number of former producing nickel deposits in the Abitibi greenstone belt, in particular in the Timmins camp to the south, and in Archean sequences throughout the world.
Cu-Zn VMS Deposits
The Mattagami base metal camp, which hosts one current and several former producing Cu-Zn-Ag-Au VMS deposits is located less than 30 kilometres east of the eastern end of the Grasset Property. As well the 50+ mt, former producing, Selbaie Zn-Cu-Ag-Au deposit sits 30 km south of the Company’s Martiniere Property. Exploration by Balmoral and previous operators has indicated the presence of VMS style mineralization on the adjacent Fenelon Property, in the same rock sequences which traverse the Grasset Property. A number of untested geophysical features located throughout the Property share characteristics with the geophysical signatures of deposits in the Mattagami region and recent drilling in the Lac Grasset area has intersected a number of zones of massive sulphide mineralization.
With the Grasset Property covering approximately 30 kilometres of one of the Abitibi’s major gold bearing deformation zones – the Sunday Lake Deformation Zone – the Grasset Property is a high-priority target for structurally controlled, meso-thermal gold mineralization. The massive Detour Gold Deposit, home to Canada’s largest gold mine complex, is located along this same deformation zone 80 kilometres to the west. In addition the Property hosts potential for gold mineralization in secondary structures which are related to the Sunday Lake similar to the expanding high-grade gold zones located on Balmoral’s Martiniere and adjacent Fenelon properties.
Balmoral’s first drill hole on the Grasset Property confirmed the potential of the Property with the discovery of the Grasset occurrence located on the western end of the Property along the northern contact of the Sunday Lake Deformation Zone. This hole intersected a 33.00 metres grading 1.66 g/t gold including two higher grade intervals grading 6.15 g/t gold over 4.04 metres and 4.18 g/t gold over 5.00 metres (see NR11-14, July 7, 2011). This new discovery is located along the northern contact of the Sunday Lake Deformation in Zone in a setting very similar to the Detour Gold Deposit.
Recent drilling has intersected a number of zones of anomalous gold mineralization in the hanging wall and footwall to the Grasset nickel deposit which are currently being evaluated.
* Please see additional disclosure