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    BMR   AU0000156796

BALLYMORE RESOURCES LIMITED

(BMR)
Delayed Australian Stock Exchange  -  05/17 01:31:28 am EDT
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Ballymore Resources Limited Announces the Results from Field Work Complete on EPM 18426

01/19/2022 | 06:08pm EDT

Ballymore Resources Limited announced the results from field work completed on EPM 18426, within the Ravenswood Project area. Prospecting by Ballymore in 2020 recognized extensive quartz veining and scree in the Day Dawn area with rock chip samples reporting elevated gold, silver and lead up to 26.2 g/t Au, 431 g/t Ag and 1.42 % Pb (COR-006). The Day Dawn prospect hosts numerous historic pits and shafts and sits within the major east-northeast trending Mount Leyshon Corridor but has never been the subject of systematic modern exploration. Numerous gold occurrences and mines locally occur along this structure including Mount Wright gold mine (1,000,000 oz Au), Hadleigh Castle gold mine (350,000 oz Au) as well as the Disraeli, Joe's Delight, Robinson Crusoe gold mines and the Kirk Gold Field, which produced some 100,000 oz Au. Follow-up field work and rock chip sampling completed in November 2021 by Ballymore has confirmed the large scale potential of this newly identified mineralized zone. Forty-one samples were collected from around the Day Dawn - Old Man mine areas. Samples were typically of quartz +/- carbonate veins with hematite infill and galena +/- chalcopyrite in altered granodiorite as well as brecciated, altered granodiorite. Out of 41 samples, 33 samples exceeded 1g/t Au and 17 samples exceeded 10 g/t Au with the best sample (COR-270) reporting 127.5 g/t Au, 708 ppm Ag and 2.83% Pb from an outcropping banded quartz vein with disseminated galena and scorodite. In addition, many samples reported anomalous lead and silver, with 8 samples exceeding 1000 g/t Ag and 23 samples exceeding 1.0% Pb. A summary of significant rock chip results includes the following: COR 270: 127.5 g/t Au, 708 ppm Ag, 2.83% Pb; COR 269: 71.8 g/t Au, 1460 g/t Ag, 2.76% Pb; COR 267: 52.4 g/t Au, 1515 g/t Ag, 5.97% Pb; COR 254: 70.8 g/t Au, 22.7 g/t Ag, 0.23% Pb; COR 271: 35.0 g/t Au, 1860 g/t Ag, 0.21% Cu, 4.81% Pb, 0.17% Zn; COR 260: 34.3 g/t Au, 1880 g/t Ag, 0.20% Cu, 4.70% Pb & 0.17% Zn; COR 245: 48.0 g/t Au, 39.8 g/t Ag, 1.15% Pb; COR 265: 35.9 g/t Au, 411 g/t Ag, 2.71% Pb; COR 250: 0.87 g/t Au, 2770 g/t Ag, 2.70% Pb; COR 262: 4.58 g/t Au, 2120 g/t Ag, 1.34% Pb; COR 251: 0.86 g/t Au, 2350 g/t Ag, 3.62% Pb; COR 256: 29.5 g/t Au, 163 g/t Ag, 3.59% Pb. Rock chip sampling by Ballymore has defined an area of anomalous Au-Ag-Pb rock chip results over an area of 900m x 300m in the Day Dawn area. As part of the current field program, a soil sampling program was also completed. In the late 1990's Rishton Gold (operator of the Rishton and Hadleigh Castle mines) completed an extensive soil sampling program over the mine corridor between Hadleigh Castle and Rishton, as well as covering the Cornishman area west of Day Dawn. However, the Day Dawn area remained unsampled as part of this program and has not previously been sampled. Results of this soil survey have highlighted a large 1,400m x 300m gold-lead anomaly in the Day Dawn -Old Man area, corresponding with an interpreted east-west fault corridor. In addition, anomalous soils define secondary corridors associated with west-northwest - east-southeast and northeast-southwest fault zones and veining. Maximum soil results in the area include 1000 ppb Au, 1.97 ppm Ag, 330 ppm As, 29.4 ppm Bi, 360 ppm Cu, 372 ppm Pb, 75.5 ppm Sb and 498 ppm Zn.


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Financials
Sales 2021 0,03 M 0,02 M 0,02 M
Net income 2021 -0,57 M -0,40 M -0,40 M
Net cash 2021 0,22 M 0,16 M 0,16 M
P/E ratio 2021 -
Yield 2021 -
Capitalization 27,1 M 19,0 M 19,0 M
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees -
Free-Float 36,6%
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Managers and Directors
Duncan Patrick Cornish Chief Financial Officer & Secretary
Nicholas Christian Jorss Non-Executive Chairman
David Ibrahim A-Izzeddin Director & Executive Director-Technical
Andrew Nicholas Gilbert Director & Executive Director-Operations
Andrew Jamieson Greville Non-Executive Director