In its October 2026 presentation, Ballard Mining reported that its total mineral resource estimate had increased to 1.836 million ounces of gold in September 2026 from 1.178 million ounces in February 2026. The company attributed the change to an increase of 658,000 ounces, or 56%.
Ballard said the Baldock open pit contains 516,000 ounces at 3.5 grams per tonne gold, while the Baldock underground resource contains 847,000 ounces at 3.4 grams per tonne gold.
The company said about 60,000 metres of drilling completed after the 30 June 2026 resource cut-off continued to intersect extensions to mineralisation, which it said would be assessed in future resource updates. It also reported about 30,000 assay results remained in the laboratory and outlined plans for about 60,000 metres of infill drilling during the remainder of 2026.
Ballard said Mt Ida has approvals in place for open-pit and underground mining at Baldock and a works approval for a 2.0 million-tonne-per-year processing plant and tailings storage facility. The company also reported a 3.7-gigalitre-per-year groundwater licence and said the public road diversion was about 75% complete and scheduled for completion during the quarter.
Source: Download BM1 official ASX announcement, 2026-10-26.
Photograph from Ballard Mining’s 26 October 2026 company announcement.