Ballard Mining Unveils Major Exploration Target at Mt Ida Gold Project

Accelerating Exploration at Mt Ida

Ballard Mining Limited has announced a significant acceleration in exploration activities at its Mt Ida Gold Project, located in the heart of Western Australia's prolific goldfields. The company revealed an October 2025 Exploration Target ranging from 11.8 to 14.6 million tonnes grading between 2.6 and 3.9 grams per tonne of gold. This target is in addition to the already impressive Mineral Resource Estimate (MRE) of 10.3 million tonnes at 3.3 g/t gold, containing approximately 1.1 million ounces of gold.

The Mt Ida Project, situated about 200 kilometres northwest of Kalgoorlie, benefits from proximity to existing mines and processing infrastructure capable of handling around 15 million tonnes per annum. This strategic location underpins Ballard's ambition to become a significant gold producer in the region.

Fully Permitted Baldock Deposit and Dual Strategy

A key highlight is the Baldock deposit, which holds 930,000 ounces at 4.1 g/t gold and is fully permitted for both open-cut and underground mining. The deposit also has approvals for a 2 million tonnes per annum processing plant and tailings storage facility, with a water license pending. Ballard’s dual strategy involves aggressive infill drilling; targeting 80,000 metres at 20m by 20m spacing; to deliver a maiden ore reserve by mid-2026, alongside 50,000 metres of regional exploration drilling across 26 kilometres of underexplored mineralised shear zones.

This approach aims to convert existing resources into reserves while simultaneously expanding the resource base through discovery and delineation of new deposits. The company has identified 18 initial walk-up targets complemented by 35 target zones from recent geophysical studies, underscoring the camp-scale potential of Mt Ida.

Strong Financial and Management Foundations

Ballard completed a successful IPO and demerger from Delta Lithium in July 2025, leaving it with a pro-forma cash balance of $40 million after a $20.6 million placement. The company boasts an experienced board and management team with backgrounds at major gold producers such as De Grey, Saracen, and Newmont, providing confidence in execution capabilities.

Upcoming catalysts include ongoing infill and exploration drilling results, updated mineral resource estimates, and the Baldock feasibility study with a maiden ore reserve expected by mid-2026. These milestones will be critical in validating the project’s economic potential and advancing it towards production.

Exploration Potential Beyond Baldock

Beyond Baldock, Ballard is targeting several other promising areas including Timoni, Kestrel, West Knell, and regional prospects along the Ballard Fault and Baldock Thrust zones. The October 2025 Exploration Target is conceptual and reflects encouraging geological and drilling data, but further work is required to convert these targets into formal mineral resources.

The company’s structural targeting approach draws parallels with nearby prolific gold camps such as Agnew and Ora Banda, known for deep, high-grade orebodies. This analogy supports the potential for significant discoveries at depth and along strike within the Mt Ida project area.