Ballymore Resources (ASX:BMR) has secured an additional A$383,000 in Queensland Government funding to fast-track copper-gold and base metals exploration across its flagship Dittmer and Ruddygore projects. Ballymore Resources holds a portfolio of exploration and development projects in prolific Queensland mineral belts that are highly prospective for gold and base metals. The company has two granted Mining Leases (MLs) and fourteen Exploration Permits over four project areas at Dittmer, Ruddygore, Ravenswood, Mount Molloy, covering a total area of 1,456 km2. This latest funding brings total non-dilutive government support to nearly A$1.4 million in just three years, highlighting strong confidence in Ballymore’s discovery potential.
The funding comprises two separate grants under Round 10 of the Collaborative Exploration Initiative (CEI). A$200,000 (plus GST) will support a deep-penetrating ground Magnetotelluric (MT) survey at the Dittmer Project, targeting a potential concealed porphyry copper-gold deposit in the Proserpine region of north Queensland. An additional A$183,000 (plus GST) will fund a ground gravity survey at the Ruddygore Project in the Chillagoe district, combined with innovative ‘joint inversion’ of existing airborne electromagnetic (AEM) resistivity data models.
Ballymore Managing Director, Mr David A-Izzeddin, stated that securing six CEI grants in just three years is a strong endorsement from the Queensland Government of Ballymore’s technical capability and the quality of its exploration targets. He added that the government-funded programs will allow the company to accelerate drilling and target generation across multiple prospective systems, while leveraging non-dilutive funding to maximise shareholder value.
In March, Ballymore was reimbursed A$400,000 (plus GST) following successful completion of Round 9 CEI programs, further strengthening its balance sheet. Planned activities for 2026 include resuming drilling at Torpy’s, Maniopota & Ruddygore in April, completing the Ruddygore gravity survey and Dittmer MT survey in Q2, and initial drilling of Andromache porphyry target also in Q2. A maiden Mineral Resource Estimate (MRE) for Dittmer is expected in Q3, pending completion of the Stage 6 drill program.
