Ballymore Resumes Drilling at Torpy’s with Exceptional Silver Grades

Drilling Resumes at High-Grade Torpy’s Silver-Lead-Zinc Discovery

Ballymore Resources Limited (ASX:BMR) has kicked off a follow-up reverse circulation (RC) drilling campaign at its Torpy’s silver-lead-zinc-indium prospect within the Ruddygore Project near Chillagoe, Queensland. This program aims to complete up to 3,000 metres of drilling by June, testing extensions of high-grade mineralisation identified in just nine holes drilled late last year.

The maiden drilling phase delivered standout results, including an extraordinary 10 metres grading 483.2 grams per tonne (g/t) silver, 19.35% lead, 2.82% zinc, and 16.5 g/t indium (BTPRC005), alongside other impressive intercepts such as 5 metres at 280.6 g/t silver and 15.47% lead (BTPRC004). These grades rank among the highest reported in recent Queensland exploration, underscoring Torpy’s potential as a significant new silver-base metal discovery.

Expanding Footprint with Broad Shallow Mineralisation at Little Torpy’s

Adding to the excitement, Ballymore’s drilling at Little Torpy’s, located roughly 600 metres south of the main Torpy’s workings, has intersected broad, shallow zones of mineralisation. The initial step-out hole BTPRC007 returned 30 metres at 58.4 g/t silver, 4.29% lead, and 3.7% zinc from just 22 metres depth, including a high-grade 1-metre interval of 293 g/t silver and nearly 20% lead. This discovery hints at a much larger mineralised system with multiple high-grade shoots scattered across the area.

Mapping reveals a network of northwest- and north-northeast-striking faults controlling mineralisation, with structural intersections hosting mineralised shoots plunging moderately south. The emerging geological model is guiding the current drilling program to test both known mineralisation and new structural targets.

Historical Context and Modern Exploration Advances

Torpy’s Crooked Creek mine has a storied history dating back to early 1900s, with recorded production of 6,000 tonnes of ore yielding approximately 84,000 ounces of silver and 920 tonnes of lead between 1912 and 1914. However, exploration since then has been limited and incomplete, with some earlier drill holes failing to intersect significant mineralisation due to incorrect targeting.

Ballymore’s systematic approach, combining modern geological modelling, geophysics, and targeted drilling, has begun to unlock this underexplored sediment-hosted massive sulphide system. The company’s evolving model and recent high-grade intercepts suggest substantial upside potential within the Ruddygore Project, which hosts diverse deposit styles including porphyry copper-gold and skarn systems.

Upcoming Work and Funding Initiatives

In tandem with drilling, Ballymore plans to commence a CEI-funded semi-regional gravity survey across Ruddygore in May to refine targets further. The company is also progressing a capital raise expected to close in June, aimed at funding ongoing exploration and development activities across its Queensland portfolio, including the flagship Dittmer Project.

These developments build on Ballymore’s recent $3.24 million entitlement offer and funding plans for Queensland projects, which provide the financial runway for aggressive exploration over the coming months.

With assay results to be received progressively through June, the market will be watching closely for confirmation of the size and continuity of these high-grade shoots and the potential to delineate a maiden mineral resource at Torpy’s.