Ballard Mining set for Baldock resource upgrade with gold hits up to 29g/t

• BM1 reports high grade gold from infill drilling at Baldock prospect
• Baldock part of larger 10.3mt Mt Ida gold project in WA
• Company targeting resource upgrade from inferred to indicated

Special Report: Drilling at the Baldock deposit of Ballard Mining’s Mt Ida project in WA has returned up to 29/t gold, further confirming and refining the resource estimate. 

The 1.1Moz Mt Ida project covers 26km of prospective greenstone belt folded around the Copperfield Granite and within that, Baldock deposit hosts a resource of 930,000oz at 4.1 g/t.

Just last week, Ballard Mining (ASX:BM1) recorded 7m at 5.8g/t gold in early drilling at Neptune – the first of 18 regional exploration prospects to be tested.

Now the infill drilling at Baldock has returned:

• 5m at 18.94g/t Au from 205m;
• 12m at 7.47g/t Au from 98m;
• 11m at 4.8g/t Au from 198m;
• 5m at 8.76g/t Au from 67m;
• 5m at 7.49g/t Au from 84m;
• 5m at 6.76g/t Au from 170m;
• 4m at 7.12g/t Au from 85m; and
• 6m at 3.36g/t Au from 71m.

Drilling outside the existing resource returned 3m at 29.19g/t Au from 42m.

The company is on track to convert Baldock inferred resources to the higher confidence indicated category, from which probable reserves can be calculated.

Three drill rigs, comprising two reverse circulation and one diamond, continue with the infill drilling with 60% of the program completed to date. 

Resource upgrade could be on the cards

While the drilling continues, feasibility level metallurgy and geotechnical studies are continuing.

“The latest batch of infill results continue to confirm and refine the quality of the current mineral resource estimate at Baldock,” managing director Paul Brennan said.

“Together with the metallurgical and geotechnical studies, the infill drilling will allow us to convert a substantial portion of the inferred resource to indicated resource and thence to probable reserves. 

“We are targeting a maiden reserve for Baldock by the middle of next year which we expect to support an initial 5–6 year mine life at Baldock.”

Brennan also highlighted that several higher grade results were outside the existing resource estimate, such as 3 metres at 29.2 g/t gold, which highlights the potential for resource growth. 

“We are progressing through the infill program as planned which is now approximately 60% complete and then will focus on extensional drilling at Baldock,” he said.

This article was developed in collaboration with 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.