Project Overview
Ballymore holds a portfolio of exploration and development projects in prolific Queensland mineral belts that are highly prospective for gold and base metals. These consist of two granted Mining Leases (MLs), fourteen Exploration Permit over four project areas at Dittmer, Ruddygore, Ravenswood, Mount Molloy. The total area covered by the tenements is 1,456 km2.
Known deposits in northeast Queensland include Kidston (5 Moz Au), Ravenswood/Mount Wright (5.8 Moz Au), Mount Leyshon (3.8 Moz Au), Red Dome/Mungana (3.2 Moz Au) and Mt Morgan (17 Moz Au and 239 Kt Cu). The deposits occur in a wide range of geological settings including porphyries, breccias, skarns and veins.
The Projects are summarised below:
| PROJECT |
DITTMER (515 km2) |
RUDDYGORE (580 km2) |
RAVENSWOOD (335km2) |
MOUNT MOLLOY (78km2) |
| Target |
Reopening historic high-grade goldfield |
Large copper porphyry target |
Drill ready targets in 17 Moz gold province |
High grade VHMS Copper target |
| Ownership |
100% Interest |
100% Interest |
100% Interest |
100% Interest |
|
Permits
|
2 granted mining leases and
3 granted exploration permits
|
3 granted exploration permit and 1 exploration permit application
|
5 granted exploration permits
|
1 granted exploration permit
|
| Highlights
|
- Produced 55,000 Oz of gold at 151 g/t Au plus 2.8% Cu (1935–1984)
- Bonanza grade silver drill result - 2m at 5,395 g/t Ag & 2.1% Cu
- Rock chips up to 304g/t Au, 67g/t Ag & 2.1% Cu
- Underground channel sampling up to 264 g/t Au, 49 g/t Ag & 4.2% Cu
- Recent drilling has reported bonanza gold intersections including 4.3m @ 29.0 g/t Au, 11.1 g/t Ag and 0.8% Cu including 2.25m @ 54.9 g/t Au, 20.6 g/t Ag & 1.52% Cu and 0.5m @ 171.8 g/t Au, 56.4 g/t Ag and 5.28% Cu
|
- Extensive historic workings
- Rock chips up to 32.5% Cu & 471 g/t Ag
Major porphyry target defined at Ruddygore
- Recent drilling at Ruddygore has reported shallow copper mineralisation including 86m @ 0.47% Cu & 11 g/t AG from 4m
|
- Multiple gold targets within Mount Leyshon Corridor
- Historic drill results include 4m @ 301g/t Au
- Rock chips up to 582 g/t Au & 260 g/t Ag
- Recent drilling at Seventy Mile Mount reported 40m @ 1.06 g/t Au from 47m
|
- Historic production 43,600 tons of ore grading 8.7% Cu
- Limited historic drilling reported 13m @ 1.2% Cu, 4.3% Zn & 34.6 g/t Ag (Incl. 4m @ 2.6% Cu, 5.9% Zn & 55 g/t Ag)
|
Ballymore’s projects either host historic gold and base metal mines or are located adjacent to significant historic mines. Typically, Ballymore’s projects are also strategically located near existing processing infrastructure, which offers potential to reduce both the lead time and capital requirements associated with any future mining developments of the projects.
