Torpy’s Drilling Yields Up to 350 g/t Silver and 24.7 g/t Indium in Maiden Assays

Exceptional Maiden Drilling Results at Torpy’s

Ballymore Resources (ASX, BMR) has announced impressive assay results from its initial reverse circulation drilling campaign at the Torpy’s prospect, part of the Ruddygore Project near Chillagoe in Queensland. The first two holes have intersected high-grade silver, lead, zinc, and notably, significant concentrations of indium, a critical mineral increasingly sought after for electronic applications.

Drill hole BTPRC002, targeting a structural fault intersection near the historic Torpy’s mine, returned standout intercepts including 6 metres grading 226.7 g/t silver, 8.73% lead, 7.58% zinc, and 6.5 g/t indium starting at 87 metres depth. Within this interval, a 3-metre section boasted even higher grades, with silver reaching 350.1 g/t and indium 7.7 g/t. Another interval of 16 metres from 125 metres depth yielded 91.6 g/t silver alongside elevated lead, zinc, and an impressive 12.3 g/t indium, including a 2-metre segment with 285.1 g/t silver and 24.7 g/t indium.

Strategic Importance of Indium and Silver

Indium, priced at over US$800 per kilogram, is a vital component in touchscreens, flat-panel displays, and solar cells, making its presence in the mineralisation particularly significant. Ballymore’s Managing Director, David A-Izzeddin, emphasised the dual value of silver and indium, noting silver’s price surge in 2025 to historic highs around US$57 per ounce. Silver accounts for approximately 45% of the in-situ value of the mineralisation, underscoring the economic potential of the discovery.

The Torpy’s prospect has not seen drilling since a limited diamond core program in 1977, and these new results confirm the presence of high-grade massive sulphide lenses dominated by galena and sphalerite, minerals rich in lead and zinc respectively, alongside the critical indium.

Next Steps in Exploration and Development

Drilling at Torpy’s is currently paused to conduct downhole electromagnetic (EM) surveys on the completed holes. These surveys aim to delineate extensions of the known mineralised shoots and identify potential new lenses nearby. Further assay results from holes BTPRC003 and BTPRC004 are awaited, with early indications from BTPRC004 suggesting even broader and potentially higher-grade mineralisation.

Following the EM surveys, Ballymore plans to commence drilling at the Maniopota prospect, located approximately 12 kilometres west of Torpy’s. Maniopota is another polymetallic skarn target with historic workings and promising rock chip samples indicating high-grade copper, lead, zinc, gold, and silver mineralisation. Upon completion of Maniopota drilling, the rig is scheduled to return to Torpy’s to continue exploration, weather permitting.

Broader Project Context and Outlook

The Ruddygore Project covers a geologically diverse area with potential for multiple deposit types, including porphyry copper-gold, skarn-hosted copper-gold-lead-zinc, sediment-hosted massive sulphide deposits, and intrusive-related gold systems. Ballymore’s systematic application of modern exploration techniques across these historic mining districts aims to unlock significant new resources.

With a well-funded work program extending into 2026, including ongoing drilling at Seventy Mile Mount and development activities at the Dittmer mine, Ballymore is positioning itself for a potentially transformative year ahead. The combination of high-grade silver-lead-zinc mineralisation with critical indium at Torpy’s adds a compelling strategic dimension to the company’s portfolio.