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Ballard Mining has spent 2026 expanding the Mt Ida gold project to demonstrate that the Western Australian operation can support a standalone operation.
The September quarter brought that into focus, as drilling increased Mt Ida’s mineral resource estimate (MRE) by 56 per cent to 20.4 million tonnes grading 2.8g/t gold, equating to 1.84 million ounces.
“Our dual stream resource growth and project development strategy at Mt Ida achieved its most significant milestone to date in the September quarter with the global MRE increasing 56 per cent to 1.84Moz,” Ballard Mining managing director Paul Brennan said.
“The company is now confident of achieving the targeted scale to support a standalone gold mining and processing operation at Mt Ida.”
The cornerstone Baldock deposit accounts for 1.36 million ounces at 3.5g/t, giving Ballard the baseload resource around which it is designing the proposed operation.
Baldock contains an estimated 12.2 million tonnes at 3.5g/t gold, including 5.1 million tonnes at 3.9g/t classified as indicated. Its resource comprises 516,000oz within an optimised open-pit shell and 847,000oz in the underground category.
“Importantly, Baldock’s grade remains unchanged from the February 2026 estimate, confirming the increase reflects genuine high-grade resource growth,” Brennan said.
The September resource update also expanded Mt Ida beyond Baldock, with West Knell increased to 147,000oz, while Golden Vale reached 124,000oz. Resources were also reported across Kestrel, Bombay, Jupiter, Neptune, Pluto, Astro–Quasar, Lunar and Saturn.
Ballard held $44.1 million in cash at the end of September, and it subsequently secured commitments for a $45 million placement and launched a share purchase plan targeting a further $5 million.
Ballard is targeting completion of the Mt Ida feasibility study and maiden ore reserve around mid-2027, ahead of a potential final investment decision.
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