Ballymore Resource's IPO
Proceeds of the Ballymore IPO will be used to accelerate the Company’s exploration and development efforts, including funding high priority targets such as:
- An underground diamond drilling program to test for high-grade gold/copper mineralisation extensions at the Dittmer mine for potential low cost, near term extraction;
- An RC drilling program to follow up on a recent shallow drill result at Loch Neigh (Dittmer Project) which achieved bonanza grades of 2m at 5,395 g/t Ag and 2.1% Cu;
- RC drilling programs at key breccia-hosted gold +/- base metal targets within the Ravenswood Project, including Seventy Mile Mount and Middle Mount to follow up a historic hole which reported 4m @ 301 g/t from 28m;
- Drilling programs at other exciting regional targets such as Cedar Ridge and Andromache within the Dittmer Project. These will follow up significant high-grade anomalies within historic workings and subsequent trenching to assess the potential for bulk tonnage gold-copper deposits within the project;
- A significant program of geochemical and geophysical surveys is planned to better define specific drill targets for the large copper gold porphyry target at Ruddygore which was mined for shallow, high grade copper and silver in the early 1900s; and
- Geophysical surveys and drilling programs are also planned to test the historic high-grade silver-lead-zinc deposit at Torpy’s Crooked Creek.
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