Ballard Mining Eyes Gold Asset Growth

Ballard Mining Limited (ASX: BM1 proposed code), a demerged entity from Delta Lithium, is set to list on the ASX, focusing on its Gold Asset at Mt Ida, Western Australia. The IPO aims to raise between $25 million and $30 million, funding a dedicated exploration strategy and further develop the Gold Asset and optimise its potential value. Key activities will include a significant exploration and infill drilling program. The Gold Asset, covering 1,518 square kilometers, features six granted mining leases fully permitted for mining activities. A mineral rights deed with Delta Lithium grants Ballard exclusive gold exploration and mining rights. The company plans a 50,000-meter drill program, targeting prospective strikes north of Baldock and east of the Copperfield granite. An infill drilling program of 85,000m at Baldock is also planned to improve Mineral Resource estimates and increase confidence. The total Mineral Resources at the Gold Asset are estimated at 10.31Mt at a grade of 3.33 g/t Au containing 1,102 koz gold metal. Ballard intends to conduct its activities in an environmentally responsible manner and in accordance with applicable laws. After completion of the IPO Offer, Delta will retain approximately 49% registered shareholding at the Minimum Subscription, and approximately 46% registered shareholding at the Maximum Subscription, in Ballard.