BMR - Ballymore Resources unveils promising results from Dittmer gold project in Queensland
(NewsDirect)
Ballymore Resources Ltd (ASX:BMR)technical director David A-Izzeddin tells Proactive's StephenGunnion that initial assay results from a Stage 4 drilling program atthe company's Dittmer gold project in north Queensland are veryencouraging.
The company has anumber of projects in the area, which A-Izzeddin said is"remarkably under-explored," despite significant goldfindings in the 1990s.
Dittmerstands out for its history as a high-grade gold mining area in thelate 1800s to early 1900s, with the Dittmer mine noted for itsextraordinary gold yield. Ballymore's recent drilling programshave uncovered evidence suggesting the potential for substantialmineral deposits near the historic mine sites, with results indicatingthe presence of high-grade gold within a shear zone that appears towiden with depth.
Furtherexploration and drilling efforts have identified promising structuresand anomalies, suggesting an extensive mineralisation that remainsopen for exploration. The company plans to continue its explorationactivities with surface drilling programs aimed at revealing the fullpotential of these areas, including the possibility of encounteringporphyry copper systems as indicated by geochemical anomalies andhistorical data from nearby locations.
With a recent $5 millioninvestment from the Taurus Mining Royalty Fund, A-Izzeddin saidBallymore Resources is well-funded to advance its ambitiousexploration projects. This financial support, part of an $11 millionfunding effort, enables the company to explore not only the promisingtargets at Dittmer but also other locations like Cedar Ridge. Althoughthe primary focus remains on discovering significant mineral deposits,there's also the potential for initiating small-scale miningoperations in the near term, leveraging the high-grade findings andproximity to existing infrastructure.
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