Ballymore Advances Dittmer Gold Access and Confirms High-Grade Silver at Ruddygore

Dittmer Portal Expansion Sets Stage for Resource Drilling and Trial Mining

Ballymore Resources (ASX:BMR) has accelerated development at its high-grade Dittmer gold mine in Central Queensland, advancing underground access with a new four-level portal designed to facilitate a 3,000-metre drilling program scheduled for Q2 2026. This expansion aims to test the southern extension of the Duffer Lode and systematically evaluate the broader gold corridor, which has now been extended to over 5km with assays peaking at 24.28g/t Au near Mount Quandong. The underground works also support trial mining of historic backfill and remnant pillars, with previous sampling reporting grades up to 207g/t Au, alongside significant copper and silver values. Ballymore expects this drilling to underpin a maiden Mineral Resource Estimate at Dittmer, potentially setting the foundation for a mine restart.

The company’s recent field programs have revealed visible gold in 15 stream sediment samples across the corridor, reinforcing the prospectivity of a larger hydrothermal system beneath a 2.6km by 1.9km magnetic low. This geological setting positions Dittmer as a compelling exploration target with both near-surface and concealed mineralisation potential. The ongoing portal development and planned drilling build on Ballymore’s prior efforts to delineate high-grade shoots, as detailed in the company’s earlier portal expansion and Q2 drilling plans and gold corridor extension announcements.

Ruddygore’s Torpy’s Prospect Confirms Scale with Exceptional Silver-Lead-Zinc Grades

At Ballymore’s Ruddygore Project near Chillagoe, drilling continues to confirm the scale and grade of the Torpy’s silver-lead-zinc-indium system. The standout hole BTPRC005 returned 23 metres at 215.6g/t silver, 8.55% lead, and 1.99% zinc, including a 7-metre interval grading 650.7g/t silver and 25.37% lead. These results highlight one of the richest intersections to date and support the interpretation of a broader intrusive-related mineralised system. Additionally, the first step-out hole at Little Torpy’s, located 600 metres south, returned 30 metres at 58.4g/t silver and substantial lead and zinc grades, confirming the potential for multiple high-grade lenses across the district-scale target area. These findings reinforce Ballymore’s strategy to delineate bulk tonnage base metal deposits using modern exploration techniques in historically underexplored terrain.

Ballymore’s approach at Ruddygore integrates advanced geophysical methods, recently securing A$183,000 in Collaborative Exploration Initiative (CEI) funding for a ground gravity survey designed to refine drill targeting by mapping subsurface density contrasts. This survey, planned for May 2026, will complement existing electromagnetic datasets to improve the detection of massive sulphide and skarn deposits, enhancing the probability of discovery while reducing exploration risk.

Geophysical Surveys and Funding Support Expand Exploration Scope

The company has also secured A$200,000 in CEI funding for a deep-penetrating magnetotelluric (MT) survey at Dittmer, aimed at imaging concealed porphyry copper-gold targets beneath the historic mine. This survey, expected to complete by July 2026, will provide critical data to refine geological models and prioritise drill targets in what Ballymore describes as a "blind discovery" opportunity. The combined CEI grants of A$383,000 this quarter, alongside A$400,000 in reimbursements from prior CEI programs, bolster Ballymore’s exploration budget and signal ongoing government support for its Queensland projects.

Despite these advancements, Ballymore’s cash position stood at A$1.368 million at quarter-end, with exploration expenditure of A$1.34 million during the period. The company estimates funding for approximately 1.4 quarters at current burn rates and has announced a trading halt to facilitate a capital raising, reflecting the need to secure additional funds to sustain its aggressive exploration and development programs.

Pending Assays and Broader Project Pipeline

While drilling at Dittmer and Ruddygore has delivered encouraging results, assay outcomes from Ballymore’s Ravenswood Project, including a diamond drilling program at the Seventy Mile Mount breccia-hosted gold prospect, remain pending. This project lies within the prolific Charters Towers gold province and hosts several vein and breccia pipe targets with potential for significant gold mineralisation.

Meanwhile, the Mount Molloy Project, a historic volcanogenic massive sulphide copper deposit, saw no field activities this quarter, though previous sampling indicated copper grades exceeding 30%. Ballymore’s exploration focus remains on advancing its highest-priority targets while integrating new geophysical data to enhance discovery potential across its 1,746 km2 Queensland portfolio.