8 June, 2021
New mines to potentially open near Mackay
THREE new prospective projects are being eyed for the Queensland gold belt by Ballymore Resources - one of which is expected to be located between Mackay and Collinsville.
Ballymore Resources are a junior explorer and developer, but noticed the belt is under-explored using modern techniques.
Morgans are the lead manager for the initial public offer, which closes today.
Ballymore Resources has a proven track record for success, such as the Discovery of Mount Wright (1Moz) and delineation of the Nolans/Sarsfield mines (4.8Moz) in close proximity to Ravenswood Project.
In addition, they have experienced success with the start-up and operation of a Capricorn Copper and Ernest Henry Mine, along with founding ASX listed companies, Stanmore Coal and Renascor Resources.
The promising projects will be the Ruddygore, near Chillagoe, which has a large copper porphyr target, along with Ravenswood mine, which has drill ready targets in 17Moz gold province.
The second project is located near Ravenswood town.
The third and final project will be Dittmer, which is near Proserpine, which has the potential for a rapid, low-cost reopening of a historic mining area.