|May 02, 2011|
Balmoral Commences Geophysical Program at Detour East
(Vancouver, May 2, 2011) Balmoral Resources Ltd. ("Balmoral" or the "Company") (TSXV: BAR) announced today that it has commenced a ground based geophysical program on its Detour East Property located in west-central Quebec. The Detour East Property covers a 20 kilometre long stretch of the Detour/Sunday Lake Deformation Zone which hosts the Abitibi's largest undeveloped gold deposit -- the Detour Gold deposit - on an adjacent property in Ontario. Balmoral's Martiniere West high-grade gold zone is located 25 kilometres to the east of the Detour East Property along the same Detour Gold Trend.
The Induced Polarization (I.P.) program will cover a 9.25 kilometre long stretch of the Detour/Sunday Lake Deformation Zone extending eastward from the Ontario-Quebec border. The current geophysical program will supplement existing airborne and ground geophysical coverage and aid in the selection of drill targets for a planned summer/fall drill program at Detour East. Balmoral has an option to earn up to a 60% interest in the Detour East Property from Radisson Mining Resources Inc.
Mr. Darin Wagner (P.Geo.), President and CEO of the Company, is the non-independent qualified person for the technical disclosure contained in this news release. Mr. Wagner is supervising the work programs on the Detour East Property and has conducted site examinations of the property.
About Balmoral Resources -- www.balmoralresources.com
Balmoral Resources is a Vancouver-based precious metal exploration and development company focused on district scale gold opportunities in politically favourable jurisdictions in North America. With a philosophy of creating value through the drill bit and with a focus on proven productive precious metal belts, Balmoral is following an established formula with a goal of maximizing shareholder value through discovery.
On behalf of the board of directors of
BALMORAL RESOURCES LTD.
President and CEO
For further information contact:
John Toporowski, Manager, Corporate Development
Balmoral Resources Ltd., Vancouver, B.C.
Tel: (604) 638-5815 / Toll Free: (877) 838-3664
E-mail: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains forward-looking statements and forward-looking information (collectively, "forward looking statements") within the meaning of applicable Canadian and United States securities laws. All statements, other than statements of historical fact, included herein, including statements regarding the anticipated content, commencement and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, the timing of the receipt of assay results, and business and financing plans and trends, are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions or are those which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward-looking statements. Important factors that could cause actual events and results to differ materially from the Company's expectations include those related to weather, equipment and staff availability; performance of third parties; risks related to the exploration stage of the Company's projects; market fluctuations in prices for securities of exploration stage companies; and uncertainties about the availability of additional financing; risks related to the Company's ability to identify one or more economic deposits on the properties, and variations in the nature, quality and quantity of any mineral deposits that may be located on the properties; risks related to the Company's ability to obtain any necessary permits, consents or authorizations required for its activities on the properties; and risks related to the Company's ability to produce minerals from the properties successfully or profitably. Trading in the securities of the Company should be considered highly speculative. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the latest technical reports filed with respect to the Company's mineral properties.
This news release contains information with respect to adjacent or similar mineral properties in respect of which the Company has no interest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits on adjacent or similar properties are not indicative of mineral deposits on the Company's properties.
This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.
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