Ballymore Resources (ASX: BMR) has kicked off the first of two geophysical surveys funded under the latest Collaborative Exploration Initiative (CEI) round, with a high-resolution ground gravity survey now underway across the Ruddygore project near Chillagoe.

“We are targeting multiple high-priority silver-lead-zinc and copper-gold systems across a highly prospective 32km corridor, with the survey expected to significantly enhance our understanding of the subsurface geology and improve drill targeting accuracy,” Ballymore managing director David A-Izzeddin said.

“Importantly, detailed gravity coverage over Torpy’s comes as drilling continues to intersect lead-zinc mineralisation, reinforcing our confidence that we are uncovering a potentially significant new highgrade silver-base metal system in North Queensland.”

Ballymore was recently awarded two CEI grants totalling $383,000 (plus GST) for transformational geophysical programs at Ruddygore and Dittmer.

Related: Ballymore gets the rods spinning at Torpy’s

QMines (ASX:QML) says it has satisfied all conditions precedent required for completion of the previously announced $15 million strategic investment by QIC’s Critical Minerals and Battery Technology Fund (QCMBTF).

In connection with this, it has completed the conversion of a $1 million convertible note with one of the company’s largest existing shareholders, which was entered into to support the acquisition of the Mount Mackenzie gold and silver project.

QMines said it expected completion of the QCMBTF investment shortly, which would provide funding for the completion of the definitive feasibility study, permitting and development activities at its Mount Chalmers project in Central Queensland.

Related: QIC gets behind Mount Chalmers development