- Ballymore Resources (BMR) begins drilling at the Matthews Pinnacle and Seventy Mile Mount prospects in Queensland
- Two holes will be drilled at Seventy Mile Mount to test a breccia target with multiple similarities to the breccia at Mount Wright, which produced one million ounces of gold
- One hole will then be drilled at Matthews Pinnacle to target a coincident pipeline magnetic anomaly with a surrounding chargeability anomaly
- Both prospects have been poorly tested by previous drilling
- Ballymore ends the day 15 per cent in the green with shares trading at 23 cents
Ballymore Resources (BMR) has begun drilling at the Matthews Pinnacle and Seventy Mile Mount prospects.
Both prospects lie within the Ravenswood Project which is situated in the Charters Towers Province in northeast Queensland.
It consists of 96 sub-blocks and covers an area of 309 square kilometres.
Seventy Mile Mount
Mapping at Seventy Mile Mount in 2020 identified that a separate, milled polymictic breccia occurs on the northern margin of the target.
This breccia has multiple similarities with the breccia system at Mount Wright which produced one million ounces of gold between 2006 and 2019.
Mapping of the breccia has determined that it is poorly tested by drilling, with limited drilling testing it below a depth of 100 metres.
Only 18 holes have been drilled deeper than 100 metres with a result of four metres at 12.40 grams per tonne (g/t) of gold returned.
Two holes have been drilled to test the breccia target with both planned to a depth of 450 metres.
The Matthews Pinnacle Prospect coincides with a large polymetallic soil geochemistry anomaly.
One hole will be drilled to target a coincident pipeline magnetic anomaly with a surrounding chargeability anomaly.
This target is untested by drilling, however, several holes adjacent to the target have returned broad low-grade intersections such as 106 metres at 0.23 per cent zinc and 10 parts per million (ppm) silver.
Additionally, a proposal was submitted as part of the Geological Survey of Queensland’s Collaborative Exploration Initiative and was awarded $100,000 for the drilling of the Matthews Pinnacle target.
Ballymore has ended the day 15 per cent in the green with shares trading at 23 cents for a $24.27 million market cap.