Baldock Deposit Drilling Hits 29.19 g/t Gold, Boosting Mt Ida Resource Confidence

Confirming a High-Grade Gold Resource

Ballard Mining Limited (ASX – BM1) has released compelling results from its ongoing infill drilling program at the Baldock gold deposit, part of the Mt Ida Gold Project in Western Australia's prolific Goldfields region. The latest batch of assays continues to validate and refine the existing Mineral Resource Estimate (MRE), which currently stands at 930,000 ounces of gold at a robust grade of 4.1 grams per tonne (g/t), classified as inferred.

Notably, the infill drilling has delivered multiple high-grade intercepts, including standout results such as 5 metres at 18.94 g/t gold and an extensional intercept of 3 metres at an exceptional 29.19 g/t gold. These results not only reinforce the quality of the known resource but also hint at potential expansions beyond the current resource boundaries.

Advancing Resource Confidence and Conversion

The infill program, now approximately 60% complete with over 43,000 metres drilled, is designed to upgrade a significant portion of the resource from inferred to indicated status. This upgrade is a critical step toward establishing Probable Reserves, which underpin the economic viability of mining operations. Ballard's Managing Director, Paul Brennan, emphasized that the company aims to announce a maiden reserve for Baldock by mid-2026, which is expected to support an initial mine life of five to six years.

Alongside drilling, Ballard is progressing key modifying factor studies, including feasibility-level metallurgical testing and geotechnical assessments. These studies will inform mine planning and processing strategies, ensuring that the resource conversion is underpinned by robust technical data.

Strategic Focus and Next Steps

The current phase of drilling targets five major lodes within the Baldock deposit, while also capturing promising results from outside these zones that may enhance open pit resource optimizations. Upon completion of the infill program, scheduled for December 2025, Ballard plans to commence extensional drilling aimed at further resource growth. A subsequent Phase 2 infill program is also planned to continue upgrading inferred resources.

The Mt Ida Gold Project itself is well positioned with granted mining leases and approvals for both open pit and underground mining at Baldock. A Works Approval application for a 1.5 million tonnes per annum processing facility is under assessment, signaling readiness for development.

Implications for Ballard and the Goldfields Region

These drilling results and the anticipated resource upgrades mark a significant milestone for Ballard Mining as it advances Mt Ida toward production. The high-grade nature of the Baldock deposit, combined with ongoing technical studies and regulatory progress, positions the project as a potentially valuable contributor to Western Australia's gold output in the coming years.

Investors and industry watchers will be keenly awaiting the maiden reserve announcement and the outcomes of the extensional drilling program, which together will provide clearer insights into the project's scale and longevity.