High-grade Mt Ida gold results boost Ballard Mining’s resource confidence

• BM1 flags up to 4m at 32g/t gold in drilling at Mt Ida
• Results confirm and increase confidence in existing resource
• More assays from exploration drilling expected next month

Special Report: Ballard Mining has fielded infill drill results of up to 4m at 32g/t and up to 14m at 11.3g/t in resource extension drilling at the Baldock prospect of its Mt Ida gold project in WA.

The project hosts a resource of 10.3 million tonnes at 3.3g/t gold for 1.1Moz of contained gold with Baldock hosting 930,000oz at 4.1g/t – forming the basis for future development opportunities.

This drilling confirmed and increased confidence in the existing Baldock resource. Results have been received from the ~40% of the program completed to date and include: 

• 4m at 32g/t gold from 232m;
• 7m at 16.8g/t from 267m; 
• 13m at 3.4g/t from 20m; 
• 7m at 6.3g/t from 94m; and
• 1m at 27 g/t from 129m.

Notably, the drilling targeted the 2140 and 2161 lodes, with drill hole DFS284 intersecting 14m at 11.3g/t from 14m and potentially extending the 2160 lode. 

The area surrounding the intersection is not in the mineral resource estimate and the new intersection and historical intersections to the north potentially support the interpretation that the 2160 lode extends to the surface.

Ballard Mining (ASX:BM1) said additional DFS drilling around these intersections was underway with the objective of including this area in the next resource update.

Systematic drilling is the key

Exploration drilling is also advancing with three of 18 prospects tested to date – Dickson, Neptune and Pulsar – and first assays expected in September.

“The new high-grade infill and resource extension results are very pleasing, particularly the first extensional result of 14 metres at 11.3 g/t gold which highlights the potential of the mineral resource to increase in size as drilling progresses,” BM1 geology manager Todd Hibberd said.

“We are rapidly progressing through the infill program which is approximately 40% complete and then will focus on extensional drilling at Baldock. 

“On the exploration growth work stream, we have now drill tested the first three prospects and are systematically making our way through the Phase 1 drill program. 

“First assays are anticipated in September, and these will be used to inform the Phase 2 drill program, along with the structural interpretation of the high-resolution Aero Mag survey which will also be completed in September.”

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