Ballymore Resources Confirms Broad Shallow Gold at Seventy Mile Mount Queensland

Ballymore Resources Drills Broad, Shallow Gold at Seventy Mile Mount — Bulk-Tonnage Potential Takes Shape in a Proven 17Moz Gold Corridor

Ballymore Resources (ASX: BMR) has reported a suite of broad, shallow gold intersections at its Seventy Mile Mount prospect within the Ravenswood Project in north Queensland, materially strengthening the case for a large, bulk-tonnage gold operation. The latest Ballymore Resources Seventy Mile Mount gold drilling results in Queensland deliver intersections including 84.5m @ 0.247 g/t gold from 25 metres depth and 56m @ 0.456 g/t gold from 31 metres, extending previously drilled zones at shallow depths suitable for open-pit extraction.

The announcement carries meaningful exploration significance beyond the individual drill holes. The new intersections extend previously drilled zones within the same structural corridor as the historic Mount Leyshon gold mine, which produced 2.5 million ounces between 1987 and 2022. Furthermore, field teams have identified multiple high-priority new targets across the broader Pinnacles area, including one prospect where visible gold nuggets up to 2mm have been found in stream sediments.

What the Drilling Found: Broad Gold Zones at Shallow Depths

Two diamond drill holes — BSMDD006 and BSMDD007 — were completed for a combined 858.2 metres of drilling, targeting the continuity of gold mineralisation within the Seventy Mile Mount breccia system. Both holes intersected altered breccia units with associated sulphide mineralisation, followed by broad zones of fractured breccia with intermittent veining.

The headline intersections are summarised below:

These are not isolated hits. When combined with previously reported results from the same breccia system, the Ballymore Resources Seventy Mile Mount gold drilling results in Queensland begin to outline a mineralised envelope of genuine scale.

Notable historic intersections from Seventy Mile Mount for comparison:

The broad widths and shallow depth profile evident across both new and historical drilling are consistent with characteristics typically associated with bulk-tonnage breccia-hosted gold systems.

"Broad zones of shallow gold mineralisation now confirmed across multiple drill holes. Importantly, the prospect lies within the same highly endowed structural corridor that hosts the Mount Leyshon gold mine."

— David A-Izzeddin, Managing Director, Ballymore Resources

Understanding the Geology: What Is a Hydrothermal Breccia Pipe?

For investors less familiar with the geological setting, the Seventy Mile Mount prospect is classified as a hydrothermal breccia pipe — a style of mineralisation that is particularly relevant to understanding the bulk-tonnage potential being outlined here.

What Is It?

A hydrothermal breccia pipe forms when hot, mineral-rich fluids move through the earth's crust, fragmenting and breaking up surrounding rock in a roughly cylindrical or conical structure. Gold and other metals are deposited within the fractured rock as the fluids cool.

Why Does It Matter to Investors?

Breccia pipes can host very large volumes of mineralised material due to their geometry — wide, open structures that can extend hundreds of metres in diameter and at depth. This geometry lends itself to open-pit or bulk-underground mining, which generally carries lower per-tonne costs than narrow-vein mining.

The Seventy Mile Mount breccia currently has an interpreted footprint of approximately 260m × 80m, with interpreted potential to expand both at depth and along strike. The nearby Mount Leyshon mine — which produced 2.5 million ounces of gold from a similar breccia-pipe system — provides a tangible comparison for what such a system can contain.

Glossary of Key Terms

• Breccia: Rock composed of broken fragments cemented together, often associated with hydrothermal mineralisation.
• g/t Au: Grams of gold per tonne of rock — the standard measure of gold grade.
• Bulk-tonnage: A deposit style suited to mining large volumes of lower-grade material, typically at lower cost per ounce.
• Strike: The horizontal direction of a geological structure — "along strike" means extending laterally in the same direction.
• MRE (Mineral Resource Estimate): A formal assessment of the quantity and grade of mineralisation, prepared to industry standards.
• BCL (Bulk Cyanide Leach): A geochemical analytical technique particularly suited to detecting coarse gold in sediment samples.

The Mount Leyshon Corridor: A World-Class Address

Location is one of the most underappreciated elements of the Seventy Mile Mount story. The prospect sits within the Mount Leyshon Corridor, a structural belt that hosts approximately 17 million ounces of gold endowment across multiple deposits in the Charters Towers Province of north Queensland.

The corridor's track record is hard to ignore:

Seventy Mile Mount sits approximately 7km east-northeast of the historic Mount Leyshon Gold Mine and shares the same structural corridor. This geological address, combined with the breccia-pipe style of mineralisation, places Seventy Mile Mount in highly credentialled company.

Beyond Seventy Mile Mount: A Pipeline of New Targets

Running concurrently with the drilling programme, field teams have been active across the broader Pinnacles area, collecting a total of 33 stream sediment samples (-80#), 33 stream sediment samples (-2mm), and 88 rock chip samples across multiple prospects. The findings are compelling.

Think Big — Visible Gold and Exceptional Sediment Results

The Think Big prospect is arguably the most exciting new discovery emerging from this field programme. Located north of Matthews Pinnacle, it has received only limited shallow drill testing to date — making the results all the more striking.

Key results include:

• Stream sediment samples up to 62,075 ppb Au (equivalent to 62 g/t in sediment)
• Visible gold observed in multiple sediment samples
• Gold nuggets up to 2mm in size recorded
• BCL analyses of -2mm samples are pending, expected to better characterise the coarse gold distribution

The scale of the sediment anomaly, combined with visible gold, marks Think Big as a high-priority target for near-term drill testing.

Pinnacle Creek — High-Grade Vein System

A series of quartz veins west of the Matthews Pinnacle breccia system delivered standout rock chip results, including rock chips up to 33.7 g/t Au, eleven samples exceeding 1.0 g/t Au, three samples exceeding 10 g/t Au, and stream sediment results up to 8,075 ppb Au.

Matthews South and Westgate — Polymetallic Vein Systems

Both prospects host quartz vein systems with notable gold, silver, and lead values. Importantly, neither area has been adequately drill-tested.

The silver and lead values at both prospects suggest a polymetallic character that could add value beyond gold alone.

Black Knight

Part of the Matthews Pinnacle breccia system, Black Knight has recorded stream sediment values up to 1,084 ppb Au with limited field work completed — leaving meaningful upside for future programmes.

What Comes Next: A Well-Loaded 2026 Work Programme

Ballymore has laid out a clear and well-sequenced programme of work to advance the Ravenswood Project and its other Queensland assets through 2026.

The Q3 2026 maiden MRE for Dittmer stands out as a near-term catalyst that could formally quantify resource tonnes for the first time at that project. In addition, follow-up drilling at Seventy Mile Mount and Think Big could deliver further newsflow across the second half of the year.

The Investment Thesis: Multiple Shots at Discovery in a Proven Gold Belt

Ballymore Resources is building a multi-target exploration story across 1,746 km² of tenements in north Queensland's most historically productive gold belts. The latest Ballymore Resources Seventy Mile Mount gold drilling results in Queensland reinforce several dimensions of the investment case simultaneously.

1. Bulk-Tonnage Potential Is Taking Shape at Seventy Mile Mount

The new drilling confirms broad, shallow gold mineralisation across multiple holes. The breccia system, currently interpreted at 260m × 80m, remains open at depth and along strike. Historic drilling has already demonstrated high-grade pockets within the system, and the combination of wide low-grade envelopes and contained high-grade zones is a hallmark of potential bulk-tonnage deposits.

2. The Address Is Exceptional

Operating within a corridor that has produced over 17 million ounces of gold, and in geological settings directly analogous to producing mines including Mount Leyshon, provides meaningful geological validation for the exploration model being applied.

3. The Pinnacles Field Work Has Opened a Second Front of Discovery Potential

The Think Big result — stream sediments up to 62,075 ppb Au with visible gold nuggets — is the kind of anomaly that demands follow-up drilling. With additional targets at Pinnacle Creek, Matthews South, and Westgate all returning high-grade rock chips and largely untested by drilling, the prospectivity across the broader Pinnacles area is real and growing.

4. Near-Term Catalysts Are Well-Defined

The upcoming maiden MRE for Dittmer, recommencement of drilling at Torpy's and Ruddygore in May 2026, and follow-up drill testing of Think Big and Seventy Mile Mount extensions provide a sequenced pipeline of potential share price catalysts through the balance of 2026.

5. A Diversified but Focused Portfolio

Beyond Ravenswood, Ballymore holds two granted Mining Leases and fourteen Exploration Permits across four project areas — Dittmer, Ruddygore, Ravenswood, and Mount Molloy — providing diversified exposure to Queensland's gold and base metal prospectivity.

Why Investors Should Keep a Close Eye on Ballymore Resources

Ballymore is operating in exactly the kind of setting — a world-class gold corridor, analogous systems with proven production histories, broad mineralised widths at shallow depth, and a pipeline of new targets being systematically identified — that tends to attract serious exploration interest.

The company is not yet at the resource definition stage at Seventy Mile Mount. However, the building blocks are accumulating: multiple drill holes confirming mineralisation continuity, a geological model supported by historic and new results alike, and now a suite of new prospects that have delivered surface anomalies strong enough to prioritise for drilling.

The Think Big prospect in particular warrants attention. Visible gold nuggets and stream sediment values of 62,075 ppb Au at a largely untested target represent exactly the kind of early-stage discovery signal that exploration investors look for before a drill bit has been deployed in earnest.

For context, the Ballymore Resources Seventy Mile Mount gold drilling results in Queensland sit within a broader story of systematic exploration across multiple fronts. The company's ability to identify and advance multiple targets simultaneously, whilst maintaining focus on the primary Seventy Mile Mount breccia system, demonstrates a methodical approach to portfolio development.

"Ballymore Resources has established Seventy Mile Mount as a credible bulk-tonnage gold target within one of Queensland's most endowed gold corridors, while simultaneously identifying a pipeline of high-priority new prospects — including one with visible gold at surface. With drilling at multiple targets, an upcoming maiden resource estimate at Dittmer, and a 17Moz geological address underpinning the project, 2026 is shaping up as a defining year for BMR's exploration story."

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