Exploration Plans

The winter 2018 drill program is now underway on the Martiniere Property.

Approximately 5,000 metres of drilling is planned for the winter 2018 exploration campaign at Martiniere. Initial drill testing will focus on several near-surface high-grade gold discoveries proximal to the Bug Gold Trend and two new target areas, before returning to expansion drilling on the Bug South gold deposit. The early focus on exploration targets will allow for additional winter drilling on these targets should results warrant.

In addition to drilling, Balmoral will undertake a large IP survey in the area between its recent Lac du Doigt gold discovery, where the Company reported its strongest intercept to date in October of 2017 (7.05 g/t gold over 2.21 metres within a broadly anomalous zone of 26.33 metres grading 0.73 g/t gold and the LAM (Norbug) gold discovery located approximately 1,500 metres to the north (see map - The-Greater-Martiniere-Gold-System). Surface sampling in the fall of 2017 returned gold values ranging from 0.16 g/t to a high of 7.98 g/t gold in quartz-veined gabbro outcrop and boulders in the LAM area. Both the Lac du Doigt and LAM gold discoveries are interpreted to be proximal to east-west trending structural zones which parallel the regional Sunday Lake deformation zone. The multi-million ounce Detour Lake Gold mine occurs proximal to the Sunday Lake deformation zone 45 kilometres to the west.

Martiniere - Initial Resource Estimate
Work continues on the preparation of an initial resource estimate for the Martiniere gold system. This report will provide an estimate of the gold content in the near-surface portions of the four largest deposits within the system: Bug North, Bug South, Bug Lower Steep and Martiniere West. Results up to the end of the summer/fall 2017 drill season will be incorporated into the resource estimate. All of the deposits within the system remain open for expansion to depth, as do numerous proximal and secondary zones of gold mineralization.
Balmoral currently anticipates receipt of the initial resource estimate prior to the end of the first quarter of 2018.