Stage 5 Drilling Yields 22.64 g/t Gold Intersection at Ballymore’s Dittmer Project

Stage 5 Drilling Validates Geological Model

Ballymore Resources (ASX:BMR) has released encouraging results from its Stage 5 underground drilling campaign at the Dittmer Project, located in North Queensland. The first eight holes have all intersected the displaced extension of the historically mined Duffer Lode, confirming the continuity of this high-grade gold-copper system. This newly recognised lode repetition lies within 30 metres of the historic workings and aligns well with Ballymore’s geological model.

The initial assay results from the first three holes (DTDD049 to DTDD051) reveal significant gold grades, including a standout intersection of 0.7 metres at 22.64 g/t gold, accompanied by silver and copper credits. These results build on Ballymore’s previous drilling campaigns, which consistently returned gold mineralisation, including bonanza-grade hits such as 193.45 g/t Au over 0.3 metres.

Metallurgical Testing and Processing Options

Complementing the drilling success, Ballymore is advancing metallurgical testwork to assess ore recovery pathways. Earlier testwork demonstrated excellent recoveries through both cyanide leach and flotation methods, providing flexibility in potential processing routes. The company is actively exploring processing options within trucking distance of Dittmer, aiming to leverage existing infrastructure and reduce capital expenditure for a potential mine restart.

Managing Director David A-Izzeddin emphasised the strategic importance of these developments: "Amid record high gold prices, our latest drilling and metallurgical results advance the option of starting a low CAPEX, high-grade gold mine. The continuity confirmed by Stage 5 drilling increases confidence in our exploration strategy and future development plans."

Historical Context and Future Potential

The Duffer Lode, historically mined between 1935 and 1951, produced over 54,500 ounces of gold at an exceptional average grade of 151 g/t Au, alongside significant silver and copper. Ballymore’s exploration has identified that this lode was fault-displaced at depth, creating a repetition that had never been drill-tested prior to their involvement.

Beyond the immediate high-grade gold targets, Ballymore’s geological interpretation suggests the presence of an underlying porphyry copper system, supported by abundant chalcopyrite stringer veins and magnetic survey data revealing a pencil-like magnetite-bearing intrusion. This could represent a significant bulk tonnage target, adding further upside to the project’s value proposition.

Next Steps and Market Implications

Drilling continues with holes DTDD052 to DTDD056 completed and assays pending. Ballymore expects to receive further assay and metallurgical results in the coming weeks, which will be critical to refining resource estimates and advancing preliminary mining scoping studies. The company’s approach of combining modern exploration techniques with historical data is positioning Dittmer as a compelling candidate for a high-grade, low CAPEX gold-copper operation.

With gold prices at record highs and processing options under review, Ballymore’s progress at Dittmer could attract significant market interest as it moves closer to unlocking value from this historically rich but underexplored asset.