Ballard Mining discovers gold at Neptune within a whisker of 930,000oz Baldock deposit

• Ballard hits gold at the Neptune prospect, 7km east of 930,000oz Baldock deposit
• Neptune is the first of 18 regional exploration prospects identified ahead of the company’s IPO 
• Discovery opens entire 13km underexplored Ballard Fault as high priority exploration zone

Special Report: Ballard Mining has struck gold with a new discovery at the Neptune prospect, confirming its potential to add big ounces along the underexplored Ballard Fault in WA’s Goldfields region. 

Early drilling at Neptune has delivered strong gold hits that mark an immediate win for Ballard’s (ASX:BM1) exploration program to expand the 1.1Moz Mt Ida gold project.

Neptune is the first of 18 regional prospects to be tested, with drilling just 7km east of Baldock, which hosts 930,000oz at 4.1g/t. 

Drilling around historical underground shafts delivered gold in eight of 12 holes where mineralisation occurs in east dipping shear zones, interpreted to be the same host rock as the Baldock deposit but on the opposite side of the Copperfield Granite intrusion. 

Results so far include 23m at 1.8g/t gold from 21m, 7m at 5.8g/t gold from 113m and 7m at 1.66g/t gold from 48m, supported by rock chip samples that returned 85.7g/t gold and 14.5g/t gold earlier this year. 

The discovery shows strong similarities to Baldock, suggesting the 13km-long Ballard Fault could host another deposit of similar scale. 

Big upside along Ballard Fault 

BM1 managing director Paul Brennan called the drill hits an exceptional start to the company’s regional exploration. 

“These results represent the first round of assays received from the first exploration prospect,” he said. 

“The discovery has striking similarities to mineralisation at the Baldock deposit which opens up the entire Ballard Fault with the potential to host another Baldock scale deposit. 

“Broad shallow intercepts such as the 23m at 1.8 g/t lend themselves to low strip, low-cost open pit mining generating oxide and transitional material which is the ideal supplement to blend with underground fresh rock.”

The aim of the exploration drilling is to unlock gold resources that can supplement Baldock, to deliver the scale and longevity of operation needed to classify Mt Ida as a high class mid-tier WA gold mine.

“We expect Baldock to primarily be an underground mine,” Brennan said.

“Our stated ambition since Ballard listed on the ASX in July 2025 is that by mid-2026 the company will have a 5 to 6 year mine life at Baldock underpinned by a maiden Ore Reserve and visibility over a 10 year mine life with exploration success. 

“Ongoing confirmatory infill drilling results at Baldock coupled with the immediate exploration success at Neptune is a significant step in achieving that outcome.” 

This article was developed in collaboration Ballard Mining, a Stockhead advertiser at the time of publishing. 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.