Ballard Mining Reports 56% Rise in Global Mineral Resource at Western Australia Project; Shares Up 8%

MT Newswires Live08:56

Ballard Mining (ASX:BM1) reported a 56% growth in global mineral resource estimate at its Mt Ida Gold Project in Western Australia to 20.4 million tonnes at 2.8 grams per tonne (g/t) gold for 1.8 million ounces, according to a Wednesday Australian bourse filing.

The company said the cornerstone high-grade Baldock deposit resource increased 35% to 12.2 million tonnes at 3.5 g/t gold for 1.4 million ounces, with the open pit mineral resource estimate for Baldock containing 437,000 ounces in the higher-confidence indicated category at a grade of 3.9 g/t gold.

The Mt Ida feasibility study and reserve estimation remain on target for mid calendar 2027, the company added.

Ballard Mining's shares jumped almost 8% in recent Wednesday trade.

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