Ballymore Resources Limited’s Post

Transcript

I'm looking today. I'm here to talk about at Ballymore Resources. Ballymore is a relatively new company we listed in late 2021. Our focus is very much an exploration and development of copper and gold projects in North QLD. We're very as a company, we're very fortunate we're able to raise $11.1 million late last year on the back of some really exciting results from our Dimma project. So we're well cashed up. We're very fortunate to have had have had Taurus some royalty fund come on board as a major shareholder putting in seven and a half million. Our cash holding is it says 2.1 million that was at the end of the March quarter. About a week after that we got further approval and that seven and a half million land in the bank. So we are very well. Well funded and that's allowing us to do some really exciting exploration. Our projects, as I've already said is in are in North Queensland. If we zoom in, our projects are located up between Cairns and Proserpine. Running through our projects up north inland from Cairns, we have the we have the Ruddigore project and the Mount Malloy project. These are two copper projects of two copper projects that we have up there as in addition to that we also have the Ravenswood project down there, Charters Towers, but our flag flagship project is to dip my project down near Proserpine. And the, the, the dimmer projects, the real gem, I I believe that probably hasn't been recognised as well as it should have. Gold was first discovered here in the 1880s and it was renowned for its high grade gold. None of the old mines often ran it over 500 grams per tonne. It was spectacular grades. There's numerous old workings here, but for the fraud of reason, there hasn't been a lot of modern exploration in this area. We are the largest tenant hold in the area. We now have over 500 square kilometres of tenement and we also have a number of mining leases in the area as well. You can see the two mining leases 1, some over the dip mine, the other over the Lamington mine. If you zoom down underground, here's a little snapshot of the Dimma Underground mine itself. Dimma was actually the highest grade gold mine when it operated it. It was first found in 1930 and operated 3 to 1951. And while it operated averaged about 151 grams gold as well as having 66g silver and 2.8% copper, it was remarkable. 5 ounces of the tone. You know, we'd, we'd, we'd all like to see some more of that. I guess when we first picked up this ground, the big question for us was why did they stop mining it less than 200 metres below surface? So we actually opened up the old mine to try and get some more information. We were able to do more mapping and channel sampling, got some spectacular channel sample results up to 264g gold and 5% copper. Our amazingly when we first picked up this project it had never been drilled. So we've gone and subsequently done now 42 holes into it. Our early drilling did confirm that it had pinched out at depth the load of the mind, but fortunately for us we picked up the an extension to it. And I guess that's the really exciting part of this, is recognising the extensions of one of these high grade veins. Since we started drilling, we've now completed 42 holes into the project. Every single one of them hit the load as the as expected and we've reported, it's fair to say, some quite spectacular drill results. The highlight being whole 9 which got 4.3 metres at at 29 grams gold and within there there's 2 1/2 metres at 55 grams. The other thing about our drilling that we've recognised is that the the load itself is typically sitting within a shear zone that's between 3:00 to 5:00 metres wide. It does seem to be getting wider at depth and within it there are a number of. Generally extremely high grade veins, so you can see some of the examples of that, you know, individual samples running 129 grams and 193g per tonne. If we look at the, the project and the, the project itself, the the old timers that might, we're mining that red load, which is what they call the duffel load. And as I say, our drilling is suggested that pinches out at depth. Fortunately for us though, we've recognised that there is actually a more to the story. We think there's a structure that's basically thrown that that load up against it and, and, and we actually have the repetition of the load within 30 metres of the existing workings. The old timers did try and and, and look for it. I put a few little drives out, they came agonisingly close but the unfortunately for them and very fortunately for us, they were unsuccessful with with recognising it. So at this point we've basically drilled a similar area to what the old timers have, have, have have defined in their in their mining. They've put produced 50,000 ounces in this area. And we, we think we've just we continue to deliver really spectacular results in a similar sort of area and it remains open along strike and down dip. On on top of the drilling, we've also been madly doing field work out there and getting a lot of a lot of great work going on out there. There's been mapping and soil sampling and and geophysics surveys. It's fairly severe terrain. It's quite steep and quite heavily vegetated. But look, the results are really saying to, to deliver and really show what the possibilities are for this place. You can see that little red bar, that's basically the extent of our drilling to date. That's about 250 metres. As you can see along strike from that, our soil sampling is actually showing. The golden, normally that extends for at least 2 kilometres in that same direction. So the duffer load is potentially a lot larger than what the old timers were mining and and, and we think there's a real great potential here for something substantial, a very large gold system. On top of that, you might notice the green area they've contouring. That's also another interesting tower. We can see a number of different structures are highlighted in our ourselves. And it's interesting that where the lock knee load and the duffalo, two of the major structures in this area come together. We're starting to see a bit of a, a significant copper and normally saying to develop. We already know that there's a number of porphyry systems in this area. They're historically recognised by CR&MIM in the 70s and, and we want, we speculate there might be our large porphyry sitting underneath this system as well. To test this really exciting young target, we've now rolled out a surface drill rig to do the first step out, first surface program. And you note out here in this area, it's more of a proof of concept and and the plan of it is to basically go out there and test and hopefully demonstrate the extension of the structure of a large area. If successful, we'll do a lot more and this could potentially be a very significant goal system. Just looking through the the the soils in a bit more detail here. Here's the golden soils. Once again, you can see the extent of those sores in the contouring. Here's your copper results. And as they up in that northeastern corner and it's very much restricted by the sampling we've covered and it could be a lot larger. Looking a bit further out of field, one thing about this area, historically numerous old workings in this area and they all have a range of different styles. Up in the northern area, the areas dominated by sediments and and and volcanics and we typically see a lot of vein hosted and breccia hosted little systems down here. In the southern part of our license area, all those those sediments and volcanics have been eroded off and we're looking deeper in the system and we see a number of very significant porphyry systems just off our ground as the Joevan Creek porphyry that has a resource of over 60 million tonnes in it. In our ground we also have the Androniki porphyry system. Androniki was recognised by MIM in the 70s. In the 80s a group mined the gold cap offer, but very little work has been done on on mining the the well, evaluating the copper. So we're making. For making efforts to alleviate and solve that problem. We're also gearing up to start drilling at Cedar Ridge, which the stockwork vein system up there which. So as we look deeper in the system, we're seeing a larger, bigger systems and we think that's a possibility of what might be sitting underneath it Dittmar as well. Just quickly running through our other projects. And ready go projects up in the Chicago area. It's once again historically a prolific mining area and and also processing area. The first smelter in Queensland was built there. We have a very large hammer package that sits on the same structural corridor that that hosts all the historical major mines in the area as well as Red Dome Mungana. First area we looked at, and this was the Ruddigore mine itself, which is an old historic copper mine. We found defined a very large geochemical anomaly over this. To to date, we've only completed six holes into it, but they've demonstrated very impressive shallow copper, our best intersection today being 86 metres at half percent copper. We're looking to bring out a drill rig to do test the extent of that and hopefully there's a potential for a very significant shallow copper resource here. We also have a really interesting target at many Apoda down South, which is along the same corridor. It's a polymer. Alex Gonz System and we're gearing up to do a geophysics survey on that one. We also have the Mount Malloy project up there. This is a historically was founded in 1880. It's a high grade copper VMS deposit that during its life it averaged 9% copper. We've already demonstrated a very large geochemical normally over it. We're getting rock chips up to 30% copper and we're leveraging off that geophysics survey. We're flying at, at at Chilligo. We're going to then fly out our geophysics survey over there, which will hopefully define a number of lenses of, of, of further minimisation. Last but not least, we have the Ravenswood project. This is a significant tenement package in the Charters Towers district along strike from the Mount Lation mine. We literally had joined that. We have a whole series of vein hosted and breccia hosted targets here and some are really exciting target called Dayton. It's a high grade gold silver target which is at its rock chips running up to 127g gold and 7100 grams silver. We're we're we're looking to draw that for the first time this year as well. It's, it's always nice to get free money from the government. We also earlier this year received two ICICI grants for $300,000 each. That's a really fantastic effort and it's a real, I think, endorsement of the work we're doing in this area. We've just completed the first of those, which was the magnetic survey, a detailed magnetic survey over the, the DeMar era. We haven't seen the final results of it yet, but the prelim data I've seen, it's going to be such a great data set for helping us for targeting. We also at the end of this month looking to fly an airborne. Survey through that same structural corridor I spoke about in that Chillagoe area and that once again they will lead to more exciting drill targets in that part of the world. So look, in summary, I think we've got four very exciting projects. Our did my project, our flagship project just continues to go from strength to strength. We found the fold extension to one of the highest grade gold mines in the country and and drilling of it as successfully managed to hit, you know, just regularly bonanza grade into the sections. We continue to drill it. It remains open in every direction and we've now rolled out the drill rig to do step out drilling and and to test further afield. And that could be the transformational step that could lead to this being a multi million. Suppose we have a number of other very exciting targets and projects and there's a lot of exciting work. We're well funded and I expect there to be some fantastic, great news flow coming out. So if you would like to come and see us and learn more about our booth is literally out the door there. You literally trip over us as you walk out. So come and see us. Thank you very much.