Ballymore Resources (ASX:BMR) said assays from the maiden drilling program at the Torpy's target, part of the Ruddygore project in Queensland, confirmed visual estimates, according to a Wednesday Australian bourse filing.
The program encountered intercepts of 23 meters at 215.6 grams per tonne (g/t) grade of silver, 8.6% grade of lead, and about 2% grade of zinc from 130 meters, per the filing.
David A-Izzeddin, managing director, said the company will finalize downhole electromagnetic surveying at the site shortly, with preparations underway for follow-up drilling at Torpy's once weather conditions improve.
The company's shares rose 9% in recent trading on Wednesday and earlier reached an all-time peak.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.