–News Direct–
Ballymore Resources Ltd (ASX:BMR) technical director David A-Izzeddin tells Proactive's Stephen Gunnion that initial assay results from a Stage 4 drilling program at the company's Dittmer gold project in north Queensland are very encouraging.
The company has a number of projects in the area, which A-Izzeddin said is "remarkably under-explored," despite significant gold findings in the 1990s.
Dittmer stands out for its history as a high-grade gold mining area in the late 1800s to early 1900s, with the Dittmer mine noted for its extraordinary gold yield. Ballymore's recent drilling programs have uncovered evidence suggesting the potential for substantial mineral deposits near the historic mine sites, with results indicating the presence of high-grade gold within a shear zone that appears to widen with depth.
Further exploration and drilling efforts have identified promising structures and anomalies, suggesting an extensive mineralisation that remains open for exploration. The company plans to continue its exploration activities with surface drilling programs aimed at revealing the full potential of these areas, including the possibility of encountering porphyry copper systems as indicated by geochemical anomalies and historical data from nearby locations.
With a recent $5 million investment from the Taurus Mining Royalty Fund, A-Izzeddin said Ballymore Resources is well-funded to advance its ambitious exploration projects. This financial support, part of an $11 million funding effort, enables the company to explore not only the promising targets at Dittmer but also other locations like Cedar Ridge. Although the primary focus remains on discovering significant mineral deposits, there's also the potential for initiating small-scale mining operations in the near term, leveraging the high-grade findings and proximity to existing infrastructure.
Contact Details
Proactive Australia Pty Ltd
Proactive Australia Pty Ltd
+61 431 597 771
writers.australia@proactiveinvestors.com
View source version on newsdirect.com: https://newsdirect.com/news/ballymore-resources-unveils-promising-results-from-dittmer-gold-project-in-queensland-843062478
Ballymore Resources Ltd
COMTEX_450686346/2655/2024-04-11T07:18:25
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