Ballard Mining Strikes High-Grade Gold in Baldock Drilling, Eyes Ore Reserve

Strong Infill Drilling Results at Baldock

Ballard Mining (ASX – BM1) has reported 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 program, now 74% complete, has delivered multiple high-grade gold intersections, including standout hits such as 1.4 metres at 51 g/t gold and 7 metres at 16.8 g/t gold. These results reinforce the quality of the existing Mineral Resource Estimate, which currently stands at 930,000 ounces at 4.1 grams per tonne.

Advancing Resource Confidence and Reserve Development

The primary objective of the infill drilling is to upgrade a significant portion of the resource from inferred to indicated status, a critical step toward establishing Probable Ore Reserves. Managing Director Paul Brennan highlighted the program’s progress, noting that the extensive 80,000-metre drilling campaign is on track to support a maiden ore reserve by mid-2026. This reserve is expected to underpin an initial mine life of five to six years at Baldock, providing a solid foundation for project development.

Strategic Focus and Future Exploration

The current drilling focuses on five major lodes within the Baldock deposit, though promising results have also emerged from outside these zones, potentially adding to the overall resource base. Following the completion of the infill program, extensional drilling is planned to target resource growth, aiming to expand the mineral inventory beyond the current estimate. Ballard’s Mt Ida Project benefits from full mining approvals, including open pit and underground permits, a works approval for a 2 million tonnes per annum processing plant, and a pending water abstraction license, positioning the company well for a smooth transition to production.

Robust Project Fundamentals and Market Position

With a JORC-compliant resource of over 1.1 million ounces across the Mt Ida Project and a strong balance sheet, Ballard Mining is advancing rapidly toward production. The project’s location within a well-known gold belt, combined with ongoing exploration success and regulatory approvals, enhances its appeal to investors seeking exposure to high-grade gold development in Australia.

Looking Ahead

As Ballard approaches the completion of its infill drilling and moves toward declaring a maiden ore reserve, the market will be watching closely for confirmation of resource upgrades and the potential for extending mine life through further exploration. The company’s disciplined approach to resource development and permitting sets a promising stage for the next phase of growth at Mt Ida.