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Ballymore Resources (ASX: $BMR) progresses major mineralised system at Dittmer Gold Project

Ballymore Resources (ASX: $BMR) Quarterly Report Highlights


Ballymore Resources (ASX: $BMR) has reported outstanding results for the quarter ending 31 December 2023, including the confirmation of a major mineralised system at the Dittmer Gold Project. The company also announced excellent metallurgical test work results for Dittmer and a US$5 million investment in the project by Taurus Mining Royalty Fund L.P. Additionally, soil sampling has extended the Ruddygore copper target by over 2km. Ballymore completed a placement and institutional entitlement offer during this period.

Executive Commentary


The outstanding results from the Dittmer Gold Project and the successful investment by Taurus Mining Royalty Fund L.P. demonstrate the significant progress we have made in advancing our projects. The confirmation of a major mineralised system at Dittmer and the excellent metallurgical test work results further enhance the potential for future mine development. The extension of the Ruddygore copper target through soil sampling also presents promising opportunities for the company's growth and exploration efforts.

Summary


Ballymore Resources (ASX: $BMR) has made significant strides in its projects, particularly at the Dittmer Gold Project, where the confirmation of a major mineralised system and excellent metallurgical test work results have bolstered the company's prospects for potential mine re-opening. The US$5 million investment by Taurus Mining Royalty Fund L.P. further validates the project's potential. The extension of the Ruddygore copper target and the completion of a placement and institutional entitlement offer reflect the company's commitment to advancing its exploration and development activities. With a cash position of $3.5 million and additional funding secured, Ballymore is well-positioned to continue its exploration and development efforts in the prolific Queensland mineral belts.

Sourcehttps://announcements.asx.com.au/asxpdf/20240131/pdf/05zxxh7w8h9fzx.pdf

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