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Highlights:

  • Highest-grade intersection to date returned 221.31g/t gold over 0.40m in Stage 5 drilling at the Dittmer Project.

  • The result validates geological model, with mineralisation remaining open along strike and depth.

  • Shares surge 18.9% to 22.0 cents, lifting Ballymore’s market capitalisation to $32.69 million.

Ballymore Resources Ltd (ASX:BMR) has reported its most significant drilling results to date from the Stage 5 campaign at the Dittmer Project, located near Proserpine in north Queensland. The company has announced the highest-grade gold, silver, and copper intersection ever recorded at the project, sparking renewed investor interest and a sharp rise in its share price.

Standout results were returned from drill hole DTDD056, which intersected a bonanza-grade quartz sulphide vein. This hole recorded 6.60 metres at 13.67 grams per tonne (g/t) gold, 4.4g/t silver, and 0.18% copper. Included within this interval was 2.50 metres at 35.63g/t gold, 11.3g/t silver, and 0.44% copper. The most notable intercept was a 0.40 metre segment grading a remarkable 221.31g/t gold, 70.2g/t silver, and 2.71% copper.

In addition, hole DTDD057 encountered 5.90 metres at 4.63g/t gold, 2.3g/t silver, and 0.17% copper, including a higher-grade interval of 2.90 metres at 8.07g/t gold, 3.8g/t silver, and 0.27% copper. These results confirm the extension of high-grade mineralisation along the southern strike of the historic Dittmer Mine, supporting Ballymore’s updated geological model.

The company noted that mineralisation remains open along strike and at depth, indicating further exploration potential. These findings reinforce Ballymore’s belief in the presence of multiple high-grade targets within the Dittmer area.

Stage 5 drilling is nearing completion, with additional assay results expected. Ballymore has also begun planning the extension of its exploration drive to allow for underground drilling of newly identified lode extensions, building on targets outlined during the company’s 2024 surface exploration campaign.

Following the announcement, Ballymore shares surged by 18.9%, rising 3.5 cents to close at 22.0 cents on the ASX. This movement lifted the company’s market capitalisation to approximately $32.69 million. 

The Dittmer Project, historically a high-grade gold producer, remains the centrepiece of Ballymore’s exploration efforts in Queensland.