The Gold Report - Tue, Sep 13, 2016

Drill Results Highlight Expansion of Gold Zone at Balmoral's Bug Lake

Balmoral Resources has announced a "rapid increase in the width of the Bug South gold deposit," leading one analyst following the Canadian exploration and development company to increase his target price.

Balmoral Projects

In a research report following the Sept. 7 announcement, Barry Allan of Mackie Research noted that Balmoral Resources Ltd.'s (BAR:TSX; BALMF:OTCQX) drill results "have materially added to the resource potential of Bug Lake, causing us to increase the target price to $1.50 from $1.30 [per share]."

In his Sept. 7 report, Allan called the results from seven holes "excellent," noting, "drilling continues to highlight good mineral potential" at Bug Lake South.

Also commenting on the Balmoral discovery in a Sept. 7 research report, Philip Ker of PI Financial stated, "Wide intervals of gold mineralization encountered at Bug South adds another near surface deposit and expands the potential across the Martiniere property."

Ker also noted that "opportunities exist to further grow the mineralized zone with upcoming drill results which are presently pending final assays while mineralization remains open at depth and down plunge."

Noting that gold is not the only "discovery" the company has made, Allan also commented on the initial resource for Balmoral's Grasset nickel asset. The resource "lived up to our expectation and represent[s] a new nickel discovery that has achieved an initial critical mass. Importantly, the resource remains open to depth and along strike," the analyst wrote.

"We are of the opinion BAR represents one of the best exploration companies in Canada," Allan stated in his report.

According to Balmoral, "Thirty additional holes have now been completed on the Martiniere property with results pending and two drills active. Drilling will continue to focus on the expansion of the Bug South Gold Deposit in the near term."

"We are impressed with the project developments across Martiniere," Ker commented in his report, "and highlight that by adding yet another significant gold occurrence, Balmoral now has increasing options and targets to spread [its] efforts across."

Commenting on his company's progress in the Balmoral press release, President and CEO Darin Wagner stated, "The rapid expansion of the Bug South deposit and the strengthening of the mineralized system apparent from today's results are potential game-changers for the Bug Lake South area."

1) Tracy Salcedo compiled this article for Streetwise Reports LLC. Tracy Salcedo provides services to Streetwise Reports as an independent contractor. She owns, or members of her immediate household or family own, shares of the following companies mentioned in this article: None. She is, or members of her immediate household or family are, paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are sponsors of Streetwise Reports: Balmoral Resources Ltd. The companies mentioned in this article were not involved in any aspect of the article preparation. Streetwise Reports does not accept stock in exchange for its services. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their families are prohibited from making purchases and/or sales of those securities in the open market or otherwise during the up-to-four-week interval from the time of the interview or article until after it publishes. publishes interesting contributor articles in addition to its own content. We have not verified any of the above details.

Sign-up at (or for our Small Cap Stock Observer newsletter, and to set-up your own My Portfolio, My Watchlist & Alerts and News by Email preferences, or to post at our Bulletin Boards. Free!

Please note that nothing in this report should be taken as a recommendation in any way, and that everything from is subject to the terms of our Privacy Policy and Disclaimer.

comments powered by Disqus

Detailed Quote Portal

symbol lookup | (TSX add :ca)

Membership Privileges

  • Investors Guru Small Cap Stock Observer - newsletter emailed monthly!
  • Featured Stock Profiles - emailed on occasion!
  • News by Email - as it's released, according to your My Preferences!
  • My Portfolio - login to view or update your holdings, or have it emailed daily!
  • My Watchlist & Alerts - login to view or update your stock radar list, and set price triggers for email alerts!
  • Bulletin Boards - no need to request boards, just Quote it! Social Sign-on & Share your ideas, observations & trends!
  • Find it all! Find it Fast! Comprehensive stock research webpages. No more endless clicking!

Email: (see Privacy Policy)
Password: (4-15 characters)
Username: (4-15, BB posts etc)

unsubscribe anytime

Bookmark and Share

 Subscribe in a reader

Our Mobile Site