Early Stage Nickel-Cu-PGE and Gold Exploration
Detour Gold Trend Project, Quebec
Base Metal Potential
- Property covers over 30 kilometres of the Detour/Sunday Lake deformation zone which hosts the 18+ million ounce Detour Gold Deposit.
- Balmoral holds a 100% interest in the Grasset Property with no underlying royalties.
- Located at the eastern end of Balmoral's Detour Trend Gold 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
- Initial drill testing led to the discovery of a new zone of gold mineralization - Grasset discovery (33 m grading 1.66 g/t gold) which shares similarities with the Detour Gold deposit 80 kilometres to the east 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 which trend back onto Balmoral's adjacent Fenelon and Jeremie Properties
- Recent drilling has intersected very broad intervals of Ni-Cu-PGE Mineralization including 100+ metre intercepts at >1% Ni with copper and PGE credits; cored by high-grade "net-textured" zones with recent intercepts of 54.08 metres grading 1.62% Ni with significant copper and PGE credits
- Largely untested Copper-Zinc VMS Potential
- Least explored portion of the Detour Gold Trend Project.
Magmatic Nickel-Copper-PGE Mineralization
Drilling to date on the Grasset Property has begun to outline a significant zone of Nickel-copper-platinum-palladium mineralization at the southern end of the 16+ kilometre long Grasset Ultramafic Complex ("GUC"). The GUC trends through the Grasset and Balmoral's adjacent Fenelon and Jeremie Properties. Initial drilling has defined multiple nickel-copper-PGE mineralized horizons within the complex for over 840 metres along strike and to vertical depths in excess of 400 metres. An extensive zone of net-textured sulphides has been discovered returning high-grade nickel-copper-PGE mineralization over downhole lengths of 25 to over 50 metres. This is the first discovery of this style of mineralization in the this portion of the belt and opens up significant exploration potential along the length of the complex.
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. Approximately 200 kilometres to the south, near Amos, Quebec the large (1.18 billion tonnes @ 0.27% Nickel, 0.02 g/t Palladium, 0.009 g/t Platinum) Dumont nickel deposit is currently under economic evaluation. Almost all of the nickel mineralization intersected to date at Grasset significantly exceeds the grades associated with Dumont deposit.
Cu-Zn VMS Deposits
The Mattagami base metal camp, which hosts one current and several former producing Cu-Zn 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.
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 east. 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.
Balmoral has identified a number of additional high-priority gold targets on the property which will be tested moving forward.