Ballymore gets the drill bit spinning

Newly listed Queensland explorer Ballymore Resources plans an 'aggressive work program' including a 10,000m drill campaign to test multiple advanced gold, copper and other base metal targets over the next 18 months. Ballymore Resources commenced trading on the ASX today following completion of a $7 million IPO, with support from institutional and retail investors. Among its priorities are the historical Dittmer high-grade gold and copper mine, where the company is undertaking exploration drilling to test for potential extensions to known mineralisation beneath the old workings as well as along strike. The first phase drill program is planned for 700m of diamond drilling with initial results expected in mid-September. In addition to the Dittmer project, inland from Proserpine, Ballymore holds the Ruddygore project in the Chillagoe region, which features a major copper-silver porphyry target. The company also has the right to earn an 80 per cent interest in the Ravenswood project pursuant an ActivEX farm-in and option agreement that includes an option to acquire a 100 per cent interest in the gold project. Ballymore has also received $100,000 in Collaborative Exploration Initiative (CEI) funding to drill the Matthews Pinnacle Tier 1 porphyry target, located within the prospective Mount Leyshon corridor in North Queensland. The company said it had secured a drill rig to commence drilling there and its its nearby Seventy Mile Mount target, both within its Ravenswood project, with drilling expected to commence in late September 2021 subject to obtaining necessary clearances. Ballymore Resources chairman Nick Jorsssaid the company's listing on the ASX today was a significant milestone for its management team, employees and shareholders. "We have pulled together an exciting tenement portfolio with extensive historic workings for gold, copper, silver, lead, zinc and a general lack of modern exploration," he said. "These highly prospective project areas have been specifically targeted by co-founder and director of Ballymore, David A-Izzeddin. David has a long and successful history of making significant mineral discoveries in Queensland and beyond. "We are fortunate to have secured the services of surface and underground drilling rigs and have an aggressive work program planned to drill test multiple advanced targets. "Drilling has commenced at Dittmer and we look forward to the testing this bonanza-grade historic gold deposit.”

Ballymore gets the drill bit spinning

Industry Queensland

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