Ballymore Resources Extends Dittmer Gold Project with High-Grade Drill Results
BMR (BMR) Share Update September 2024 Wednesday 18th
Ballymore Resources Extends Dittmer Gold Project Footprint with High-Grade Results
Ballymore Resources (ASX:BMR) has announced significant new drill results from its Dittmer Gold Project near Proserpine in north Queensland, extending the mineralised zone and revealing high-grade gold, silver, and copper intersections.
Instant Summary:
- First surface drill holes extend the footprint of the Dittmer deposit.
- Significant intersections include: 4.0m @ 3.57 g/t Au, 5.2 g/t Ag & 0.10% Cu.
- New rock chip samples return bonanza results up to 807 g/t Au.
- Drill intersections now reported over a 530m strike length.
- Further drilling and prospecting underway to define the extent of the gold system.
Drill Results and Extensions
The first surface drill holes at the Dittmer Project have significantly extended the footprint of the deposit. Key intersections include 4.0m @ 3.57 g/t Au, 5.2 g/t Ag & 0.10% Cu from 91.7m, including 1.7m @ 8.04 g/t Au, 11.2 g/t Ag & 0.20% Cu from 94m, and a bonanza result of 0.4m @ 25.31 g/t Au, 31.4 g/t Ag & 0.42% Cu from 94.6m.
Other significant intersections include 1.0m @ 1.46 g/t Au from 141.5m in hole DTDD043 and 2.3m @ 0.55 g/t Au from 20m in hole DTDD044. These results indicate the presence of a major gold system, with drill intersections now reported over a 530m strike length.
Prospecting and Rock Chip Sampling
New prospecting and rock chip sampling have located previously unrecognized veining in the Dittmer and Loch Neigh areas. Assay results include a bonanza grade of 807.7 g/t Au, 225 g/t Ag, and 0.34% Cu. Nine out of seventeen samples exceeded 10 g/t Au, and five samples exceeded 100 g/t Au, further demonstrating the potential of this region.
Drilling Program and Future Plans
The ongoing surface drilling campaign at Dittmer aims to test the lateral extent of this exciting discovery beyond the historic mine zone. To date, five holes have been completed, confirming extensions to the Duffer Lode and Loch Neigh Lode. Assays have been received for the first three drill holes, with further drilling currently underway.
Ballymore is also conducting parallel drilling at Cedar Ridge, 20km south of the Dittmer mine, which could be transformational in identifying the next major gold system in Queensland.
The extension of the Dittmer mineralised zone and the high-grade drill results are likely to have a positive impact on Ballymore Resources' stock price. The confirmation of a major gold system could attract significant investor interest and boost the company's market valuation.
Investor Reaction:
Analysts are likely to react positively to the news, given the high-grade results and the potential for a major gold system at Dittmer. The significant extensions and bonanza grades reported could lead to increased investor confidence in Ballymore Resources' exploration potential.
Conclusion:
Investors should closely monitor Ballymore Resources' ongoing drilling results and the potential for further high-grade discoveries at the Dittmer Project. The company's strategic exploration efforts could unlock substantial value, making it a compelling opportunity for gold investors.