Ballard Mining has delivered a 56 per cent increase in the global mineral resource estimate (MRE) for its Mt Ida gold project in Western Australia, expanding total contained gold to 1.84 million ounces.
The updated estimate stands at 20.4 million tonnes at 2.8 grams per tonne of gold, marking an addition of 658,000 ounces since the previous resource update in February 2026.
The substantial growth follows an intensive 125,000-metre reverse circulation and diamond drilling campaign completed across the project.
Ballard achieved the resource expansion at a low discovery cost of AU$36 per ounce, driven by exploration expenditure of AU$24.1 million during the first half of 2026. Key inputs for the updated estimate were based on an assumed gold price of A$4,500 per ounce.
The project’s cornerstone Baldock deposit saw its resource increase by 35 per cent to 1.36 million ounces at 3.5 grams per tonne. The open-pit portion of Baldock now contains 437,000 ounces in the higher-confidence Indicated Resource category at a high grade of 3.9 grams per tonne. Mineralisation at Baldock spans a 3.3-kilometre strike length and remains open at depth and along strike.
Growth was also recorded across regional prospects West Knell and Golden Vale, alongside maiden resource estimates for the Neptune, Pluto, and Astro-Quasar deposits. Total open-pit resources across the broader Mt Ida project rose 81 per cent to 970,000 ounces, while underground resources grew 33 per cent to 866,000 ounces.
Ballard Managing Director Paul Brennan described the resource expansion as a key milestone that strengthens the technical foundation for the planned Mt Ida feasibility study and reserve estimation, which remain on track for completion by mid-2027.
“We believe Mt Ida remains relatively underexplored, and recent drilling results reinforce our confidence in the project’s long-term growth potential,” he added.
The company’s ongoing drilling will continue to target extensions to known mineralisation and convert Inferred resources into higher confidence classifications.
