Ballymore Resources (ASX: $BMR) Announcement Overview

Ballymore Resources (ASX: $BMR) has successfully secured a US$5 million investment from Taurus Mining Royalty Fund L.P. for its Dittmer Gold Project near Proserpine, Queensland. The investment, made via a variable gross revenue royalty, represents a major component of the A$11.2 million total funding package secured in December 2023. The stage 4 drilling program at the Dittmer Gold Project is approximately 66% complete, with initial assay results anticipated in the coming weeks. Additionally, surface drilling to test for extensions along the 2km of strike identified in soil sampling is expected to commence in May, subject to weather conditions.

Ballymore Chairman's Perspective

Ballymore Chairman, Mr Andrew Greville, expressed his satisfaction with the recent developments, stating that the Taurus' funds put the company in a great position to demonstrate Dittmer's potential to host a major mineralised system. He highlighted the excellent continuity in the newly recognized displaced extension to the Duffer lode at Dittmer, emphasizing that the system extends over a much larger area that has had little modern exploration until Ballymore acquired the project. Mr Greville also expressed optimism for the future, stating that Ballymore believes 2024 will be a transformational year and thanked shareholders and new partner Taurus for their support.

Summary of Ballymore Resources (ASX: $BMR) Announcement

Ballymore Resources (ASX: $BMR) has finalized a US$5 million investment from Taurus Mining Royalty Fund L.P. for its Dittmer Gold Project, representing a significant step in securing the A$11.2 million total funding package. The company's Chairman, Mr Andrew Greville, expressed confidence in the potential of the Dittmer Project and highlighted the progress made in the stage 4 drilling program. Looking ahead, Ballymore aims to complete various drilling and geophysics surveys across its projects in 2024, indicating a strong focus on advancing its exploration and development activities. The company's positive outlook and strategic partnerships position it for potential growth and advancement in the coming year.