Which US presidential candidate does gold prefer?
Gold loves chaos and should be hitting new highs, especially with inflation coming down and with it, two rate cuts likely before year’s end.
Balmoral Resources Ltd. (TSX VENTURE:BAR) announced today that the company’s initial drill testing of the Martiniere East target area, located along the Detour Gold trend in Quebec approximately 50 kilometres east of the Detour Gold deposit, has intersected anomalous gold mineralization over broad widths ranging from 29.07 to 163.71 metres. Results from 5 of the initial 6 holes (results from two holes remain pending) testing the Martiniere East target are highlighted by holes MDE-11-01 which returned 107.50 metres grading 0.94 g/t gold starting at a vertical depth of less than 38 metres and hole MDE-11-06, collared 120 metres to the east, which returned 140.80 metres grading 0.68 g/t gold.
Martiniere East Zone
The Martiniere East Zone remains open in all directions and a recently completed I.P. survey indicates an open-ended anomaly which can be traced for over 650 metres to the east and for 600 to 800 metres to the west. In the area tested to date this anomaly appears to be associated with the zone of anomalous gold mineralization.
“The initial drill results from Martiniere East provide continued evidence of the scale and potential of the Martiniere gold system and adds an important bulk tonnage gold target to the high-grade Martiniere West and Central targets. The scale of this system dwarfs any historic discoveries in the belt outside the Detour Gold deposit itself,” said Darin Wagner, President and CEO of Balmoral. “Drilling has now intersected broadly anomalous zones of gold mineralization in three zones over 1,200 metres of strike length (see Figures 1 to 4, below) with all zones remaining open for expansion. While we are in the early stage of testing this large gold system, we clearly have a significant discovery on our hands at Martiniere and expect this to be the focus of our activities for the months ahead. Our exploration team have returned to Quebec and we anticipate drilling to resume at Martiniere on or before June 28, initially with two drills.”
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