Ballymore Resources Advances Torpy's Silver-Lead-Zinc Discovery with New Drilling, Gravity Survey, and Historic Workings at Ruddygore

Completion of 22 RC Holes at Torpy's and Little Torpy's as Drilling Pauses

Ballymore Resources has finished 22 RC drill holes, numbered BTPRC010 through BTPRC031, totaling 2,673 metres across the Torpy's and Little Torpy's prospects within the Ruddygore Project. The drilling has been paused to incorporate data from the newly completed high-resolution gravity survey into geological models. This approach aims to refine and prioritise drill targets before resuming, reflecting the company’s strategy to enhance the efficiency of the next drilling phase rather than incrementally drilling known zones.

Located near Chillagoe in North Queensland, the Ruddygore Project covers a 32-kilometre mineral corridor. The 2026 RC program builds upon the 2025 discovery phase, which yielded exceptional high-grade results such as BTPRC005: 23 metres at 215.6 g/t silver, 8.55% lead, and 1.99% zinc from 130 metres, including 10 metres at 483.2 g/t silver, 19.35% lead, 2.82% zinc, and 16.5 g/t indium from 131 metres, and 7 metres at 650.7 g/t silver, 25.37% lead, 3.01% zinc, and 14.2 g/t indium from 132 metres. These benchmark intersections established a high-grade core that the current program is systematically testing and expanding.

Strong Visual Sulphide Mineralisation in BTPRC022, BTPRC030, and BTPRC031 Supports System Continuity

Recent drill holes show notable visual sulphide mineralisation. BTPRC030 intersected 22 metres at an estimated 4% galena and 5% sphalerite from 34 metres, including 11 metres at 8% galena and 9% sphalerite from 42 metres. BTPRC031 returned 10 metres at 6% galena and 8% sphalerite from 66 metres, including 3 metres at 15% galena and 20% sphalerite from 68 metres. BTPRC022 logged 17 metres at 2% galena and 3% sphalerite from 15 metres, with subintervals of 1 metre at 10% galena and 15% sphalerite from 16 metres and another 1 metre at 10% galena and 20% sphalerite from 31 metres.

These sulphide percentages are visual estimates only and should not be considered substitutes for laboratory assay results, which are pending. Ballymore emphasises that visual estimates are subjective and investors should await formal assay data expected in the coming months. Nevertheless, the consistent presence of galena and sphalerite across multiple holes is encouraging for system continuity.

Initial Ten Holes of 2026 Program at Torpy's Confirm High-Grade Visual Results

The first ten holes (BTPRC010 to BTPRC019) of the 2026 drilling campaign, reported on 22 May and 11 June 2026, continued to intersect massive to semi-massive sulphide mineralisation including galena and sphalerite. Highlights include BTPRC017 with 9 metres at 10% galena and 13% sphalerite from 49 metres, including 7 metres at 13% galena and 17% sphalerite from 49 metres. BTPRC018 logged 18 metres at 5% galena and 6% sphalerite from 27 metres, including 4 metres at 9% galena and 16% sphalerite from 27 metres and 3 metres at 14% galena and 11% sphalerite from 38 metres.

Additionally, seven holes (BTPRC020 to BTPRC026) were completed at Torpy's for 830 metres. Most intersected broad alteration zones typical of mineralised lens margins, with some holes encountering massive, semi-massive, and vein-hosted galena and sphalerite mineralisation. BTPRC023 returned 5 metres at 2% galena and 2% sphalerite from 54 metres, including 1 metre at 6% galena and 5% sphalerite from 57 metres (all visual estimates). These results support the spatial continuity of the mineralised system at Torpy's.

Five Holes at Little Torpy's Target 600 Metres South Yield Additional Sulphide Zones

Five RC holes (BTPRC027 to BTPRC031) totaling 543 metres were drilled at Little Torpy's, located about 600 metres south of the main Torpy's zone. First tested in 2025, BTPRC007 returned a broad massive sulphide interval: 30 metres at 58.4 g/t silver, 4.29% lead, and 3.70% zinc from 22 metres, including 7 metres at 65.6 g/t silver, 5.90% lead, and 4.78% zinc from 23 metres, plus a higher-grade 6-metre interval at 153.0 g/t silver, 10.24% lead, and 8.56% zinc from 41 metres, including 1 metre at 293.0 g/t silver, 19.96% lead, and 9.36% zinc from 45 metres.

Extending the 2026 program to Little Torpy's reflects Ballymore’s interest in understanding the spatial connection between the two targets. Confirming a link could significantly enlarge the overall discovery. Assay results from these recent holes are pending and expected alongside Torpy's results in the coming months.

Gravity Survey Across Ruddygore Corridor Reveals Multiple New Drill Targets

Ballymore completed a high-resolution gravity survey over the 32-kilometre Ruddygore mineral corridor, identifying numerous new anomalies described as compelling drill targets. Three-dimensional modelling of this gravity data is underway, to be integrated with electromagnetic, magnetic, geochemical, and geological datasets to prioritise targets for the next exploration phase.

This survey marks a significant advancement in the Ruddygore Project’s evolution, shifting focus from a single discovery zone to a broader target-generation effort across an extensive mineral corridor. Drilling is planned to resume after 3D modelling concludes, with timing described as "coming months." Investors should consider the gravity survey results and target prioritisation a key milestone in the project's development.

Field Reconnaissance Uncovers New Historic Workings with High-Grade Silver and Lead

Concurrent with drilling and geophysical surveys, Ballymore’s field teams conducted geological mapping and reconnaissance, discovering previously unrecognised historic workings. Rock chip samples from these sites returned grades up to 288.8 g/t silver and 12.46% lead.

This discovery suggests the Torpy's mineralised system extends beyond the current drilling area. Historic workings typically indicate past identification and selective mining of high-grade near-surface mineralisation, implying multiple surface expressions of the mineral system. The company interprets this as "further evidence that Torpy's forms part of a much larger mineralised system."

Managing Director David A-Izzeddin Highlights Multi-Front Exploration Progress and Shareholder Value Potential

Managing Director David A-Izzeddin commented on the company’s progress across multiple workstreams at Ruddygore. He noted that each drilling phase has reinforced confidence in the scale of the Torpy's discovery, with broad sulphide zones intersected and the system footprint expanded. He emphasized the gravity survey’s role in generating new targets and described the current phase as one of integrating all data before advancing drilling, rather than infill drilling alone.

Mr A-Izzeddin also pointed to the ongoing discovery of historic workings as further proof of a larger mineralised system. He described the combination of pending assay results, final gravity modelling, and planned drilling as "exceptional exploration momentum," offering "multiple opportunities to create further shareholder value." He cautioned that these forward-looking statements are subject to exploration risks and dependent on forthcoming assay and modelling results.

Assay Results and 3D Gravity Modelling Are Critical Upcoming Milestones

The immediate catalysts for Ballymore at Ruddygore are receiving laboratory assay results from the 22-hole drilling campaign and completing 3D gravity modelling from the recent survey. Both are expected in the coming months. Until assay data is available, all sulphide intersections reported remain visual estimates and cannot be used to infer grade, tonnage, or economic significance.

Following integration of gravity modelling with existing datasets, Ballymore plans to announce prioritised drill targets and resume drilling. The expanding drilling results, multi-target gravity data, and newly discovered historic workings with high-grade rock chips indicate the project is entering a phase of increased activity and news flow. The immediate market impact of this update was not evident at the time of release.

Ruddygore Project Overview: Polymetallic Silver-Lead-Zinc-Indium Discovery Near Chillagoe

The Ruddygore Project, near Chillagoe in North Queensland, is a historically significant mining area. Ballymore's Torpy's discovery features a polymetallic signature—silver, lead, zinc, and indium—with indium notable for its applications in flat-panel displays, solar cells, and semiconductors, making it a mineral of growing technological importance. The combination of high-grade silver and lead with zinc and indium credits positions Torpy's as a potentially multi-commodity project, pending definition of sufficient scale and continuity.

The 32-kilometre Ruddygore mineral corridor, now under systematic assessment through gravity surveys, suggests the project’s ultimate scale could be considerably larger than the currently drilled area. Ballymore has not yet released any maiden resource estimate, economic study, or production timeline, as the project remains in active exploration. Investment decisions should reference Ballymore’s full company updates and consider cautionary statements regarding visual mineral estimates and forward-looking information.