Ballymore Resources targets porphyry source after hitting ‘bonanza’ Dittmer gold intersection

Ballymore Resources (ASX: BMR) has hit further “bonanza” gold grades at its Dittmer project in north Queensland as it continues to test the potential of the historical high-grade mine.

The latest highlight intersection at Dittmer was 0.40 metres at 221.31 grams per tonne gold, 70.2g/t silver and 2.71% copper.

These latest results include additional broad zones of high-grade gold-copper mineralisation.

‘One of the best’

“Ballymore has now completed five drilling programs at Dittmer and this magnificent intersection of 221.31g/t gold is one of our best results to date,” managing director David A-Izzeddin said.

“61 holes have been drilled and every hole has intersected the lode-bearing structure, confirming our interpretation of the existence of a continuous high-grade repetition of the orebody that supported the historical Dittmer mine when it operated between 1935 and 1951.”

Two of the holes suggest the prospect of a broadening high-grade shoot that remains open to the south and at depth.

High-grade mineralisation

“The possibility that this anomaly is the source for the high-grade mineralisation at Dittmer and in the surrounding area is tantalising and could be a company-making discovery,” Mr A-Izzeddin said.

“The next few months could shape the future of the company as we probe the source of this large and highly mineralised system under a backdrop of record gold prices, currently trading above $5,100 per ounce.”

Ballymore will further assess the results from the stage five drilling at Dittmer, which continue to match the company’s updated exploration model.

CEI grant backing

Ballymore received two separate Collaborative Exploration Initiative (CEI) grants totalling $400,000 from the Queensland government in late May to support its innovative exploration plans, including a focus on a Dittmer project deep porphyry drill hole.

Mr A-Izzeddin said the company is now turning its attention to preparations for the CEI-backed hole, which is targeting a magnetic anomaly that the company identified in a recent magnetics survey 400m below the Dittmer workings.

The anomaly is analogous to significant copper-gold porphyry deposits in eastern Australia including Northparkes and Ridgeway, each of which has substantial reserves of both gold and copper.