Ballymore Resources Limited Updates on Exploration at Ruddygore Copper Project, Located Near Chillagoe in North Queensland
204m in the diamond tail. Drill hole BRUDD001 encountered a strongly altered and brecciated zone of granodiorite downhole with significant sulphide including pyrite and pyrrhotite with associated chalcopyrite, sphalerite and galena. While sulphide mineralisation was noted throughout the hole, copper grades were patchy and it has been interpreted that the hole drilled down a structure adjacent to the main mineralised zone. Results included 2m @ 0.25% Cu, 31.7 g/t Ag, 0.44% Pb and 0.73% Zn. The hole intersected numerous narrow intervals of copper, lead and zinc mineralisation and also minor gold mineralization including 1m @ 7.56 g/t Au, 22.6 g/t Ag, 0.42% Pb and 0.34% Zn. Positive initial results have been received for BRURD002 with further results expected for the remaining holes in the next month. Planning of the next stage of drilling is already in preparation to test further targets in the mine area as well as other local workings including Black Cockatoo and Ruddygore East. About Ruddygore Project: The Ruddygore Project is located adjacent to the regional centre of Chillagoe in north Queensland. It consists of four granted EPMs including EPM 14015, EPM 15047 and EPM 15053 as well as the recently granted EPM 27840, and covers an area of 558 km2. A number of significant historic mines occur within the Ruddygore project area, including Ruddygore, Maniopota and Torpy's Crooked Creek. The Ruddygore mine is a porphyry copper stockwork and breccia-hosted deposit located wholly within the Ruddygore Granodiorite. The Maniopota mine is a skarn deposit hosted in the Chillagoe Formation and was mined for lead, zinc and silver. The Torpy's Crooked Creek mine is hosted in sediments of the Hodgkinson Formation
and was mined for silver and lead. The Ruddygore Mine was mined from 1896 to 1909 by open cut and shaft access to underground. The mine yielded 1,450 tons of copper from 32,750 tons of handpicked ore at a grade of 3.9% Cu and 56 g/t Ag. Extensive workings occur in the area including three shafts and two significant open pits. Despite the historic mining activity, historic drilling at Ruddygore has been limited to 26 shallow holes for 1,631m, with most holes being less than 50m deep. Geological mapping of the Ruddygore mine area by Ballymore in 2020 identified a large circular zone of extensive hydrothermal alteration. The alteration zone includes a number of copper-silver +/- gold prospects, including the Ruddygore mine and Black Cockatoo mine and numerous smaller workings. Subsequent soil sampling of this area revealed a large, annular, polymetallic copper-lead-zinc +/- silver.