Ballard Mining Eyes Feasibility Study as Mt Ida Gold Resource Jumps 56% to 1.84 Moz [VIDEO]
Ballard Mining's Mt Ida resource update delivers a 56% jump to 1.84 Moz gold at $36/oz discovery cost, with A$62M in cash and a clear feasibility study roadmap putting the ASX gold developer firmly on the map.
Key Takeaways
- Ballard Mining's Mt Ida Global Mineral Resource Estimate has grown 56% to 20.4 Mt @ 2.8 g/t for 1.84 Moz gold, adding 658 koz since the February 2026 update at a discovery cost of just $36/oz.
- Baldock, the cornerstone deposit, grew 35% to 1.36 Moz @ 3.5 g/t gold, while satellite deposits West Knell and Golden Vale surged 258% and 359% respectively, with three maiden MREs also delivered.
- Approximately 60,000 m of drilling completed after the MRE cut-off date and 40,000 assay results still pending from the laboratory represent a substantial pipeline of potential resource additions not yet captured in the current estimate.
- The company holds A$62M cash, all mineral resources on granted mining leases, and a Works Approval for a 2.0 Mtpa process plant — a permitting position that is genuinely rare for a developer at this stage.
- Management is targeting a 2 Moz MRE ahead of a Feasibility Study and Final Investment Decision, with a mid-CY2027 FID target and a board drawing on experience from De Grey Mining, Saracen, Ramelius, Gold Road, Gold Fields, and Newmont.