BRITISH COLUMBIA--(Marketwire - Nov. 9, 2012) - Balmoral Resources Ltd. ("Balmoral" or the "Company") (TSX VENTURE:BAR)(OTCQX:BALMF) reported today results from the first 3 of 20 holes drilled in the Bug Lake area of its Martiniere Property during the recently completed Fall 2012 drill program. Results include further confirmation of the very high grade nature of the Bug Lake Footwall Zone.
The possibility is high that there will be drill results in DEC.
These results will be the last of 2012 until late Feb/early march(IMHO)
If weather is similar to last year the drill should be able to restart in Mid/late January.
Considering that 2013 will have BAR's first global resource estimate,expanded drill program it should be an incredible year.
There will also be plenty of "investor's eyeballs" on the Detour trend for the simple fact that DGC will be producing gold in 2013.
DGC's financials will give a clearer picture after 6months-1 year of commercial production.
Assuming DGC doesn't have any major issues/concerns and BAR continues getting hi grade intercepts, There is a possibility that DGC may takeover BAR BUT a J/V could happen first.
Especially when DGC has 15+million ounces and counting. TWD was taken over by DGC for 84million with about 3million ounces 50/50 jv.