ersonal use only
Brisbane Mining Conference
24 March 2022
Au Ag Cu
Disclaimer
Cautionary Statement | |
Certain statements made during or in connection with this statement contain or comprise certain | |
only | forward-looking statements regarding the Company's Mineral Resources, exploration operations |
and other economic performance and financial conditions as well as general market outlook. | |
Although the Company believes that the expectations reflected in such forward-looking | |
statements are reasonable, such expectations are only predictions and are subject to inherent | |
risks and uncertainties which could cause actual values, results, performance or achievements to | |
differ materially from those expressed, implied or projected in any forward-looking statements | |
and no assurance can be given that such expectations will prove to have been correct. | |
Accordingly, results could differ materially from those set out in the forward-looking statements as | |
a result of, among other factors, changes in economic and market conditions, delays or changes in | |
use | project development, success of business and operating initiatives, changes in the regulatory |
environment and other government actions, fluctuations in commodity prices and exchange rates | |
and business and operational risk management. Except for statutory liability which cannot be | |
excluded, each of the Company, its officers, employees and advisors expressly disclaim any | |
responsibility for the accuracy or completeness of the material contained in this statement and | |
excludes all liability whatsoever (including in negligence) for any loss or damage which may be | |
suffered by any person as a consequence of any information in this statement or any error or | |
omission. The Company undertakes no obligation to update publicly or release any revisions to | |
these forward-looking statements to reflect events or circumstances after today's date or to | |
ersonal | reflect the occurrence of unanticipated events other than required by the Corporations Act and |
ASX Listing Rules. Accordingly, you should not place undue reliance on any forward-looking | |
statement. | |
Exploration Results & Exploration Target
Ballymore confirms that Exploration Results and Exploration Targets used in this document were estimated, reported and reviewed in accordance with the guidelines of the Australian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code) 2012 edition. Ballymore confirms that it is not aware of any new information or data that materially affects the Exploration Results or Exploration Target information included in the following announcements:
*1 - Ballymore Prospectus released on 1 September 2021
*2 - "Initial results for Dittmer underground sampling & drilling" released on 29 September 2021
*3 - "High grade drilling results and visible gold at Dittmer" released on 25 October 2021
*4 - "Ruddygore IP Survey confirms large copper target" released on 10 November 2021 *5 - "Acquisition of 100% of Ravenswood Project" released on 18 November 2021
*6 - "Seventy Mile Mount Drilling & CEI Drill Hole Completed" released on 14 December 2021 *7 - "High Grade Au-Ag Rock Chips Confirm Day Dawn Potential" released on 20 January 2022 *8 - "Drilling Confirms Large Gold System in Ravenswood Project" released on 4 March 2022
Competent Person Statement
The information in this announcement that relates to Exploration Results is based on information compiled or reviewed by Mr David A-Izzeddin. The Company is not aware of any new information or data that materially affects the information included in these Company Announcements and in the case of reported Mineral Resources, all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. Mr A-Izzeddin is a Member of The Australasian Institute of Geoscientists and is an employee of the Company. Mr A- Izzeddin has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr A-Izzeddin consents to the inclusion in the announcement of the matters based on his information in the form and context in which it applies. The Exploration Targets described in this announcement are conceptual in nature and there is insufficient information to establish whether further exploration will result in the determination of Mineral Resources.
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Corporate Overview
Corporate Information | ||
ASX Code | BMR | |
only | $0.175 | |
Share Price (as at 21/3/2022) | ||
Shares on Issue | 123,357,889 | |
Shares Escrowed | 51.9m | |
Unlisted Options | 5.5m | |
Top 20 Holders | 74% | |
Directors | 41% | |
Market Capitalisation | $21.6m | |
Cash (31 Dec 2021) | $4.9m | |
Debt | Nil | |
use | ||
Enterprise Value | $16.7m | |
ersonal |
Board of Directors
Nick Jorss | 30 years in engineering, investment banking |
Non Executive Chairman | and resources. Currently Executive Chair of |
B. Eng. MBA | Bowen Coking Coal and founding MD of |
Stanmore Coal and co-founder of Renascor | |
Resources. | |
David A-Izzeddin | Geologist with 30 years in exploration, mining |
Executive Director - Technical | and business development. Worked extensively |
B.Sc. (Hons) | in north Queensland for Dominion Mining, |
MAIG, FSEG | Cyprus Gold, MIM, Ross Mining, Xstrata and |
Capricorn Copper. | |
Andrew Gilbert | Mining Engineer with 20 years in engineering |
Executive Director - Operations | and mine management. Worked in north |
B. Eng. | Queensland for Xstrata and Capricorn Copper. |
M.AusIMM | Mine manager at Capricorn Copper and |
Carrapateena. | |
Andrew Greville | Over 30 years of resources industry experience |
Non Executive Director | in the fields of business development and |
B. Eng. | marketing. Worked in senior executive roles for |
Xstrata Copper, Pechiney SA and BHP Copper | |
Duncan Cornish | Chartered Accountant with significant |
Chief Financial Officer / | experience as public company CFO and |
Company Secretary | Secretary for resource companies. Duncan has |
B.Bus. ACA | previously worked with Ernst & Young and Price |
Waterhouse Coopers. |
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Ballymore Resources - Investment Highlights
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onlyExtensive historic workings for gold, copper, silver, lead, zinc exist across the projects but there has been a general lack of modern exploration
Three highly prospective projects in prolific Queensland mineral belts
_____________
useTargeting bulk tonnage gold, copper, and other mineral deposits around historic workings which typically stopped at the base of oxidation
_____________
Located near existing processing infrastructure
ersonal | Sampling at Dittmer high grade gold-copper mine |
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Drill ready targets to test
high priority areas:
Major drill campaign planned to test multiple advanced targets
_____________
Extensive pipeline of additional prospective targets will be worked up with geophysics and exploration
Ore sample from Ruddygore Porphyry Project - 15.4% Cu, 134 g/t Ag
3
Experienced team with track record of success:
Exploration success: Discovery of Mount Wright (1Moz) and delineation of the Nolans/Sarsfield mines (4.8Moz) in close proximity to the Ravenswood Project
_____________
Mining success: Start up/operation of Capricorn Copper and Ernest Henry UG Mine
_____________
Commercial success: Founding of ASX listed Stanmore Coal and co-founding of Renascor Resources
Targeting Mount Leyshon style deposits within
the 17 Moz Ravenswood gold province
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Project Overview - under-exploredprojects in prolific mineral belts
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Ruddygore Project (558 km2)
Large copper porphyry target
- Extensive historic workings
- Rock chips up to 32.5% Cu & 471 g/t Ag
- Major porphyry target defined at Ruddygore
Ravenswood Project (309 km2)
Drill ready targets in 17 Moz gold province
- Multiple gold targets within Mount Leyshon Corridor
- Rock chips up to 582 g/t Au & 260 g/t Ag
- Mount Leyshon-style drill target with drill results including 28m @ 2.89 g/t Au (Incl 8m @ 9.2 g/t Au)
- Rock chip sampling at Day Dawn up to 127.5 g/t Au & 2770 g/t Ag
Dittmer Project (488 km2)
Reopening historic mining area
- Produced 55,000 Oz of gold at 151 g/t Au plus 2.8% Cu (1935-1984)
- Bonanza grade drill result - 2m at 5,395 g/t Ag & 2.1% Cu and 0.4m @ 54.7 g/t Au & 7.7 g/t Ag
- Rock chips up to 304 g/t Au, 67 g/t Ag & 2.1% Cu
- Underground channel sampling up to 264 g/t Au, 49 g/t Ag & 4.2% Cu
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Ballymore Resources Ltd. published this content on 24 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 March 2022 01:37:05 UTC.