Ballard Mining (ASX:BM1) Hits 41.8 g/t Gold at Baldock as Geophysics Maps a Conductor 485m Below the 1.36Moz Resource

Sonal Goyal

28 October 2026 01:08 PM AEDT

Ballard Mining (ASX:BM1) Hits 41.8 g/t Gold at Baldock as Geophysics Maps a Conductor 485m Below the 1.36Moz Resource

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Key Highlights

BDG022W1 returned 0.35m at 41.8 g/t Au and BDG009 returned 1.2m at 20.9 g/t Au, both outside the Baldock resource.
A downhole survey in BDG052W1 mapped an 800m by 500m conductive plate that extends 485m below the deepest lode intersected.
The quarter's drilling comprised 221 holes for 38,135 metres, and results arrived after the 30 June 2026 cut-off for the 1.84 Moz estimate.
Regional hits included 7m at 2.5 g/t Au from 99m at Ayla and 1m at 11.9 g/t Au from 37m at Astro-Quasar.

Ballard Mining (ASX:BM1) has reported new gold assays from its Mt Ida Gold Project in Western Australia that fall outside the September 2026 Mineral Resource Estimate of 20.4 million tonnes at 2.8 g/t Au for 1.84 million ounces. At the Baldock deposit, deep holes returned grades up to 41.8 g/t Au, and a downhole geophysical survey identified a conductor reaching a vertical depth of 1,100 metres. Shallow intercepts at the Ayla, Vortex, Astro-Quasar and Sandstone prospects were also recorded.

Drilling Programme and the Resource Baseline

Mt Ida lies 540 kilometres north-east of Perth in the Goldfields Region and covers 26 kilometres of greenstone belt folded around the Copperfield Granite. The September 2026 estimate was a 56% increase on the February 2026 figure and includes 12.2 million tonnes at 3.5 g/t Au for 1.36 Moz at Baldock. These new results were received after the 30 June 2026 drilling cut-off and were not part of it.

Between July and September, 221 drill holes totalling 38,135 metres were completed along the Baldock Shear Zone, at Baldock, Vortex, Astro-Quasar, Lunar, Pluto, Constellation, Bombay and Jupiter, and along the Ballard Shear at West Knell, Golden Vale and Neptune.

Baldock Intersections and the Deep Conductor

Baldock holes returned several high-grade results at depth: 1.2m at 20.9 g/t Au from 775.8m in BDG009, 1.5m at 13.4 g/t Au from 425.6m in BDG017, 0.35m at 41.8 g/t Au from 319.6m in BDG022W1, 1.1m at 11.1 g/t Au from 868.9m in BDG040, 1.4m at 7.5 g/t Au from 765.5m in BDG004 and 1.5m at 5.1 g/t Au from 913.7m in BDG016W1. Additional intervals included 2m at 4.6 g/t Au from 680.9m in BDG004 and 2m at 4.0 g/t Au from 428m in BDG057. Geological modelling will establish how these intercepts relate to the interpreted lodes.

The downhole survey in BDG052W1 identified an 800 metre by 500 metre conductive plate that aligns with, and is surrounded by, the 1090, 1091, 1092 and 1079A lodes. It extends 485 metres below the deepest lode intersected. Drilling is being extended south and below the existing estimate on 100 metre by 50 metre spacing.

Regional Prospects Return Shallow Gold

At Ayla, the southern extension of West Knell, results included 7m at 2.5 g/t Au from 99m in AYEX010, 3m at 4.5 g/t Au from 69m in AYEX008, 4m at 3.0 g/t Au from 27m in AYEX001 and 2m at 5.3 g/t Au from 89m in AYEX011. The current Ayla resource contains 147,000 ounces. Ayla sits within the 12-kilometre Ballard Shear Zone, and Ayla, Neptune, West Knell and Europa are being evaluated as satellite sources for a proposed standalone operation.

At Vortex, VREX006 returned 4m at 2.5 g/t Au from 36m, VREX008 returned 5m at 1.7 g/t Au from 16m and VREX001 returned 1m at 5.9 g/t Au from 59m. These intervals appear to be shallow extensions of the Baldock footwall 1080 series lodes and will be included in the next estimate. At Astro-Quasar, ASEX039 returned 8m at 0.89 g/t Au from 3m and 1m at 11.91 g/t Au from 37m. Sandstone hole SSEX007 returned 9m at 1.05 g/t Au from 48m, and Pluto hole PTEX056 returned 1m at 8.9 g/t Au from 38m. Drilling at Constellation covered 2 kilometres of strike and found anomalous silver with occasional gold intervals below 1 g/t.

Mt Ida Position After the Latest Drilling

Mt Ida holds seven granted mining leases, with approvals in place for open pit and underground mining at Baldock, a Works Approval for a 2.0 Mtpa processing plant and tailings facility, and water abstraction licences of 3.7 GL a year. Ninety-three per cent of the resource sits on granted mining leases. Drilling after the 30 June cut-off is being assessed for inclusion in future estimates.

FAQs

Q: What is the current Mt Ida Mineral Resource Estimate?

A: The September 2026 estimate is 20.4 million tonnes at 2.8 g/t Au for 1.84 million ounces, including 1.36 Moz at 3.5 g/t Au at Baldock.

Q: What did the downhole geophysical survey find?

A: A survey in BDG052W1 identified an 800m by 500m conductive plate aligned with several mineralised lodes and extending 485m below the deepest lode intersected.

Q: What was the highest-grade Baldock result?

A: BDG022W1 returned 0.35m at 41.8 g/t Au from 319.6m, followed by 1.2m at 20.9 g/t Au from 775.8m in BDG009.

Q: How much drilling was completed in the quarter?

A: Ballard completed 221 drill holes for 38,135 metres across Baldock and regional prospects between July and September 2026.

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