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GTA Gta Resources And Mining Inc.

0.015
0.00 (0.00%)
31 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Gta Resources And Mining Inc. TSXV:GTA TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.015 0.015 0.02 0 01:00:00

Balmoral Reports Resumption of Drill Program on Northshore Property, Ontario

23/10/2013 1:00pm

Marketwired Canada


Balmoral Resources Ltd. ("Balmoral" or the "Company") (TSX:BAR)(OTCQX:BALMF) has
been advised by GTA Resources and Mining Inc. ("GTA") (TSX VENTURE:GTA) that
drill testing is set to resume on the Company's Northshore Property located in
the Hemlo-Schreiber Greenstone Belt in Ontario. The current program will consist
of approximately 1,000 metres of drilling, targeting both the Afric Gold Zone
and recently discovered high-grade gold mineralization located between the Afric
and the former producing Northshore Gold Mine on the Property. 


To-date, drilling by GTA has principally focused on the Afric Gold Zone, which
has been outlined over an area of 500 x 350 metres and to a vertical depth of
350 metres, remaining open to depth and to the northeast. The most recently
completed phase of drilling discovered a new, near surface high-grade zone of
gold mineralization which returned an average grade of 5.23 g/t gold over 6.00
metres at a vertical depth of less than 15 metres, including 19.20 g/t gold over
1.50 metres (See NR13-16, July 18, 2013). This new discovery is currently
interpreted to parallel the Northshore vein which was the focus of historic
high-grade gold production on the Property. 


Located immediately south of the town of Schreiber, Ontario, the Northshore
Property is currently 100% owned by Balmoral and under option to GTA. GTA can
earn an initial 51% interest in the Property under the terms of an option
agreement between the companies (see News Release NR11-17; July 27, 2011).
Balmoral currently controls 11.4% of the issued and outstanding common shares of
GTA. 


The planning, execution and monitoring of GTA's exploration programs on the
Northshore Property are under the supervision of Mr. Robert (Bob) Duess, P. Geo.
(Ontario), VP Exploration of GTA. Mr. Duess is a qualified person as defined by
National Instrument 43-101 and is also the Qualified Person for this release.
Mr. Duess has supervised the work programs on the Northshore Property,
supervised the collection of the samples and drill core described herein and
reviewed the assays and QA/QC data. 


Mr. Duess has also reviewed and approved this release.

About Balmoral Resources Ltd. - www.balmoralresources.com

Balmoral is a Vancouver-based precious metal exploration and development company
focused on delineation of a series of high-grade gold discoveries on its wholly
owned Detour Gold Trend Project located in Quebec, Canada. 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 the discovery and definition of
high-grade gold assets. 


On behalf of the board of directors of

BALMORAL RESOURCES LTD.

Darin Wagner, President and CEO

Neither the TSX Venture Exchange or the Toronto Stock Exchange, nor their
Regulation Services Providers, (as that term is defined in the policies of the
TSX Venture Exchange and Toronto Stock 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, duration 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 in commodity prices; 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 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Balmoral Resources Ltd.
John Toporowski
Manager, Corporate Development
(604) 638-5815 or Toll Free: (877) 838-3664
jtoporowski@balmoralresources.com
www.balmoralresources.com

1 Year GTA Resources and Mining Inc. Chart

1 Year GTA Resources and Mining Inc. Chart

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1 Month GTA Resources and Mining Inc. Chart