Ballymore Uncovers New Gold-Copper Targets, Preps Major Drilling at Dittmer
Ballymore Resources advances its Queensland exploration portfolio with a significant new gold-copper target beneath Dittmer and promising drilling results at Cedar Ridge and Ravenswood. Preparations for a deep drilling campaign at Dittmer are underway, signaling potential for a major resource upgrade.
- Discovery of a large new gold-copper magnetic anomaly beneath historic Dittmer mine
- Extension of Duffer Lode strike length to over 1km through surface drilling
- Stage 5 underground drilling at Dittmer to commence February 2025 targeting deep porphyry system
- Encouraging alteration and mineralisation at Cedar Ridge suggestive of porphyry target
- Ongoing exploration and geophysical surveys at Ruddygore and Ravenswood projects
Exploration Breakthrough at Dittmer
Ballymore Resources has reported a major advancement in its flagship Dittmer Project in Central Queensland, revealing a substantial new gold-copper target concealed beneath the historic high-grade mine workings. A recent high-resolution heliborne magnetic and radiometric survey identified a pipe-like magnetic body measuring approximately 1200m by 800m at a depth of around 400m below the surface. This discovery aligns with Ballymore's long-held view that the Dittmer deposit is part of a larger intrusive-related gold system (IRGS), potentially representing the upper levels of a significant porphyry copper-gold system.
The company plans to test this deep target with a 1,000m diamond drill hole, scheduled to commence in April or May 2025, marking a critical step toward unlocking the project's full potential.
Extending the Known Mineralisation
Surface drilling during the quarter has successfully extended the interpreted strike length of the Duffer Lode to over one kilometre. The six-hole program encountered altered volcanic rocks and shear zones consistent with the mineralisation style of the historic Dittmer mine. Notably, all previous underground drilling in the area has intersected gold mineralisation, with several bonanza-grade intercepts reported, underscoring the high-grade nature of the deposit.
Preparations are also nearing completion for the Stage 5 underground drill program, which will deliver 2,000m of diamond drilling focused on infill and step-out targets ahead of testing the newly identified deep magnetic anomaly.
Promising Results at Cedar Ridge and Broader Queensland Portfolio
Beyond Dittmer, Ballymore's Cedar Ridge prospect, located 20km south, has yielded encouraging results from a 10-hole reverse circulation drilling program. While gold grades were modest, alteration patterns and geochemical signatures suggest the presence of an underlying porphyry system, warranting further investigation.
Meanwhile, the Ruddygore Project in North Queensland saw completion of a semi-regional heli-borne electromagnetic survey, the first in over 50 years, funded partly by a $300,000 Queensland Government grant. Early data processing indicates potential for new drill targets, particularly around the Maniopota prospect, known for its polymetallic skarn mineralisation.
At the Ravenswood Project, initial drilling at the Day Dawn prospect returned gold intercepts below expectations but confirmed the presence of anomalous mineralisation consistent with a distal part of a regional IRGS. Additional soil sampling and mapping continue to refine exploration targets across Ballymore's extensive tenement holdings.
Financial Position and Outlook
As of 31 December 2024, Ballymore held $4.1 million in cash, following exploration expenditure of $1.49 million during the quarter. The company continues to invest heavily in advancing its Queensland projects, with a focus on drilling and geophysical programs that could materially enhance resource definitions.
With drilling at Dittmer poised to commence imminently and promising geophysical data emerging from multiple prospects, Ballymore is positioning itself for a potentially transformative year in 2025.
Bottom Line?
Ballymore’s upcoming deep drilling at Dittmer could redefine its resource base, making 2025 a pivotal year for the company’s growth trajectory.
Questions in the middle?
- Will the April-May deep drill hole at Dittmer confirm the presence of a significant porphyry copper-gold system?
- How will the extended strike length of the Duffer Lode impact the upcoming Mineral Resource estimate?
- What new targets might emerge from the Ruddygore heli-borne EM survey and how soon will they be drill tested?
