Can Ballymore Sustain Momentum Amid Exploration Risks at Maniopota and Torpy’s?

Exploration Momentum Builds at Maniopota

Ballymore Resources (ASX, BMR) has commenced an initial drilling campaign at its Maniopota prospect, part of the broader Ruddygore Project in North Queensland. This polymetallic target, located approximately 10 kilometres west of the Torpy’s prospect and 20 kilometres south of Chillagoe, is attracting attention due to its geological similarities with nearby prolific mines such as Red Dome and Mungana.

Maniopota’s appeal lies in its extensive hydrothermal system marked by skarn alteration, a geological setting known to host significant base and precious metal deposits. Recent soil sampling has delineated a continuous copper-lead-zinc anomaly extending over six kilometres, supported by rock chip assays that have returned impressive grades, including up to 22.20% copper, 31.20% lead, 13.80% zinc, 1.07 g/t gold, and 585 g/t silver.

Historic Data and Modern Techniques Align

While limited drilling was conducted at Maniopota over 30 years ago, those programs revealed promising shallow mineralisation, such as 3 metres grading 10.72% lead and 20.63% zinc. Ballymore’s current reverse circulation drilling program, comprising five holes for 650 metres, aims to test a combination of geological, geochemical, and geophysical targets identified through recent surveys.

Notably, a CEI-funded helicopter-borne electromagnetic survey completed in 2024 has outlined several conductive targets, and reprocessed historic induced polarisation data has identified chargeable anomalies, both of which guide the current drilling efforts.

Parallel Progress at Torpy’s Prospect

Simultaneously, Ballymore has advanced diamond drilling at the Torpy’s prospect, following a successful inaugural reverse circulation program. Early assay results from Torpy’s are striking, with intervals such as 6 metres at 226.7 g/t silver, 8.73% lead, 7.58% zinc, and 6.5 g/t indium, underscoring the high-grade nature of mineralisation there.

The diamond drilling will provide critical geological insights and enable downhole electromagnetic surveys to better understand the structural controls and potential extensions of the mineralised zones.

Strategic Outlook and Next Steps

Ballymore’s Managing Director, David A-Izzeddin, emphasised the excitement around Maniopota’s potential and the company’s systematic approach to exploring historic mines with modern techniques. The company plans to complete the initial Maniopota drilling shortly, with further drilling anticipated in 2026. Concurrently, downhole EM surveys at Torpy’s are expected to refine targeting, with additional assay results pending.

Beyond Maniopota and Torpy’s, Ballymore is progressing development activities at the Dittmer historic workings and preparing for drilling at the Seventy Mile Mount prospect within its Ravenswood Project, reflecting a robust exploration pipeline across its Queensland portfolio.