Ann: Assay Results Confirm High-Grade Au-Cu Discovery at Dittmer, page-10

Ballymore have found the faulted extension of the Dittmer lode. For those that don't recognise the value of high grade veins I have compiled a comparison chart for the $/tonne value of contained metal for a few deposits and the BMR Dittmer drill and channel sample assays and the old Dittmer mine production. The $/t contained metal from the old mine production and the current intercept in drill hole DDTD009 are very similar. The production, prior to treating waste dumps, was worth around $12,000/t (production) and the drill intersection slightly higher at $13,881/t (contained metal). If we think of the 1.2-2.0 g/t gold mines in a typical open pit situation the value is $92.9 to $154.8/t. The Havieron underground mine resource is low grade compared to the Dittmer vein. The tonnage in the vein extension at Dittmer could be many times lower and still be a profitable underground gold mine. We need more drilling, probably both from underground and along strike at surface, to produce a JORC resource at Dittmer but the signs are good for additional lodes and discoveries at the many other old mines in the area. I think Dittmer and the other veins may end up looking like the high level high grade veins above an intrusive related gold system of potentially significant scale and tonnage. Early days but great progress and a good discovery. The Ruddygore drilling has some good results and there is the chance of a bulk tonnage copper-gold porphyry deposit emerging with further drilling. It is a porphyry system and will take more drilling programmes to understand the alteration and mineralisation patterns and structural controls.

DYOR. Not investment advice.