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BMR - Ballymore Resources (1 Viewer)

System

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Ballymore Resources Limited (BMR) was incorporated on 12 April 2019 for the purpose of pursuing opportunities in the resources sector and build shareholder value by acquiring, exploring, evaluating and exploiting mineral resource projects.

The Company holds the following projects as exclusive owner:

(a) Dittmer Project; and
(b) Ruddygore Project.

The Company also has the right to earn an 80% interest in the Ravenswood Project pursuant to the ActivEX Joint Venture and Option Agreement that includes an option to acquire a 100% interest in the Ravenswood Project.

The Dittmer Project is located inland from Proserpine and comprises two granted mining leases (MLs) and three exploration permits. The project area contains the historic, high-grade Dittmer mine, which was discovered in 1934 and historically mined for 54,500 ounces of gold at an average grade of 151 g/t, as well as copper (2.8%) and silver (66 g/t). The Dittmer Project area also contains numerous other shallow high grade historic workings which have yet to be properly tested with modern exploration techniques.

The Ruddygore Project is located near Chillagoe and includes a major copper-silver porphyry target at the Ruddygore mine, the Maniopota lead-zinccopper-gold-silver skarn deposit and the sediment hosted silver-lead-zinc Torpy’s mine works. These deposits sit within an extensive mineralised corridor containing the nearby Red Dome and Mungana mines.

The Ravenwood Project is located within the 17 Moz Charters Towers gold province and contains a number of old workings and breccia hosted gold targets including Seventy Mile Mount, Middle Mount, Matthews Pinnacle and Pinnacle Creek.

It is anticipated that BMR will list on the ASX during July 2021.

 
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Ballymore Resources has assembled three project areas located in historic mining provinces in Queensland with granted permit areas totalling 1,355km2. Ballymore's projects either host historic gold and base metal mines or are located adjacent to significant historic mines. Typically, Ballymore's projects are also strategically located near existing processing infrastructure, which offers potential to reduce both the lead time and capital requirements associated with any future mining developments of the projects.

The Dittmer Project comprises two granted mining leases (MLs) and three exploration permits (EPMs) and contains the historic, high-grade Dittmer mine which was discovered in 1934 and produced a total of 54,500 oz of gold at an average grade of 151 g/t as well as copper averaging 2.8% and silver averaging 66 g/t through to 1951. The Dittmer Project also contains numerous other highgrade lodes mined to shallow depths which Ballymore intends to thoroughly test using modern exploration methods.

The Ruddygore Project contains numerous targets that were mined in the early 1900s but have not been subject to meaningful modern exploration since. These include a major copper-silver porphyry target at the Ruddygore mine, the Maniopota lead-zinc-copper-gold-silver skarn deposit and the sediment hosted silver-lead-zinc Torpy's mine. These deposits sit within an extensive mineralised corridor containing the nearby Red Dome and Mungana mines, with a combined pre-mine inventory of 3.2 Moz of gold.

The Ravenswood Project is located in the Charters Towers district and contains drill-ready targets within a historic 17 Moz gold province. These targets include Seventy Mile Mount, Middle Mount, Matthews Pinnacle and Pinnacle Creek which show geological similarities to the nearby Mount Leyshon (3.8 Moz Au) and Ravenswood/Mount Wright (5.8 Moz Au) mines.

A key strategic aspiration for Ballymore, should exploration work yield success, is to bring one or more of its prospective deposits into production, with the Dittmer mining complex currently being the most advanced.

It is anticipated that BMR will list on the ASX during August 2021.

 

Dona Ferentes

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Listing date06 August 2021 11:30AM AEST ##
Contact detailshttps://www.ballymoreresources.com/site/content/
Ph: +61 7 3212 6255
Principal ActivitiesPursuing opportunities in the resources sector and building shareholder value by acquiring, exploring, evaluating and exploiting mineral resource projects.
GICS industry groupTBA
Issue Price$0.20
Issue TypeOrdinary Fully Paid Shares
Security codeBMR
Capital to be Raised$11,000,000
Expected offer close date11 June 2021
UnderwriterNot underwritten. Morgans Corporate Limited (Lead manager)
 

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