Ballymore Raises $4.5m as Dittmer Gold Project Hits High-Grade Targets

Strong Drilling Results at Dittmer

Ballymore Resources has delivered a compelling update for the quarter ended 30 September 2025, with its flagship Dittmer Project in Queensland continuing to impress. The company’s Stage 5 underground drilling program has confirmed high-grade extensions to the Duffer Lode, a key gold-bearing structure within the historic Dittmer gold mine area. Notably, assays from recent drill holes include significant intervals such as 15m at 2.13 g/t gold including a 2.1m section grading 13.25 g/t gold, and a standout 0.5m intercept returning 41.28 g/t gold alongside copper and silver credits. These results reinforce Ballymore’s interpretation of a widening mineralised shoot down-plunge, suggesting robust continuity of the high-grade orebody.

Regulatory Milestones and Infrastructure Development

In a critical regulatory development, the Land Court of Queensland has recommended approval of Ballymore’s new mining lease application (MLA 100351) and the associated Environmental Authority. This recommendation now awaits ministerial consideration, with final approvals expected shortly. In anticipation, Ballymore is fast-tracking the extension of its underground exploration drive to facilitate efficient and cost-effective drilling of the southern extensions of the Duffer Lode. This infrastructure upgrade not only supports ongoing resource delineation but also opens the door for trial mining and bulk sampling, essential steps toward a potential mine restart.

Expanding Exploration Horizons

Beyond Dittmer, Ballymore is advancing exploration across its broader Queensland portfolio. At the Ruddygore Project near Chillagoe, a recent heli-borne electromagnetic survey has identified 29 strong conductive targets associated with known mineralised zones, setting the stage for drilling scheduled to commence in late October. Similarly, a dipole-dipole induced polarisation survey at the Andromache Prospect within the Dittmer Project has revealed multiple chargeable anomalies, hinting at further copper-gold porphyry potential. Meanwhile, fieldwork south of the historic Dittmer mine has potentially doubled the strike length of the mineralised corridor to approximately 4 kilometres, with visible gold detected in stream sediments and rock chips returning assays up to 39 g/t gold.

Financial Position and Capital Raising

To underpin its aggressive exploration and development programs, Ballymore successfully completed a $4.5 million placement during the quarter. The capital raise was well supported by existing and new investors, with shares issued at an 11.8% discount to the last closing price. This injection of funds has bolstered the company’s cash reserves to approximately $4.7 million as of 30 September 2025, providing a solid financial foundation for the next phase of work. Exploration expenditure for the quarter totaled $1.23 million, primarily directed towards drilling, mapping, and metallurgical studies at Dittmer.

Looking Ahead

With high-grade drilling success, regulatory progress, and a strengthened balance sheet, Ballymore Resources is positioning itself for a transformative period. The imminent commencement of underground development and expanded drilling programs across multiple projects could unlock significant value. However, final mining lease approvals and further assay results will be pivotal in shaping the company’s trajectory.