Ballymore Resources says early drilling in its latest Torpy’s campaign has extended the emerging silver-lead-zinc-indium discovery near Chillagoe in North Queensland.

The Brisbane-based explorer said the first two holes in a planned 3000m reverse circulation program had intersected broad zones of visible massive sulphide mineralisation.

Ballymore said the work extended known mineralisation closer to surface and supported the potential for multiple high-grade shoots at the Ruddygore project.

Managing director David A-Izzeddin said the new drilling campaign had delivered another strong start.

Related Map portal Ruddygore project

“The new drilling campaign at Torpy’s has delivered another strong start, with the first two holes intersecting broad zones of visible massive sulphide mineralisation and extending the system closer to surface.

“Importantly, these results support our view that Torpy’s is evolving into a significant high-grade silver-base metals discovery with multiple mineralised shoots now identified with great upside.

“Our maiden drilling delivered exceptional grades of up to 650g/t silver and 25 per cent lead, and with drilling continuing, assays (including for silver) due in June, and a major gravity survey underway across the broader Ruddygore corridor, we believe Torpy’s has the potential for significant growth.”

The results are visual estimates, with laboratory assays, including for silver, expected in June.

The company said hole BTPRC010 had logged 9m at an estimated 7 per cent galena and 5 per cent sphalerite from 79m, including 3m at an estimated 16 per cent galena and 10 per cent sphalerite from 79m.

Hole BTPRC011 logged 28m at an estimated 4 per cent galena and 3 per cent sphalerite from 106m, including 5m at 8 per cent galena and 4 per cent sphalerite from 106m, and 7m at 7 per cent galena and 7 per cent sphalerite from 124m.

Galena is the main ore of lead and a key source of silver, while sphalerite is the main ore of zinc.

The update follows Ballymore’s recent restart of drilling at Torpy’s after the North Queensland wet season. Previous drilling returned silver-rich intersections and identified multiple shallow, high-grade shoots.

Ballymore is also running a Queensland Government-backed gravity survey across Ruddygore’s 32km mineralised corridor to generate further targets.

The company has secured two Collaborative Exploration Initiative grants totalling $383,000 plus GST for geophysical work at Ruddygore and Dittmer.

Ruddygore covers about 556sq km near Chillagoe, about 150km west of Cairns, in a district with a long history of mining and smelting.