Ballard Mining Ltd has secured a Mining Lease for the West Knell prospect at its Mt Ida Gold Project in Western Australia, advancing its development pipeline as feasibility-level technical studies progress across key deposits.

The lease follows the company's previously reported high-grade drill intercept of 9 metres at 27.1 grams per tonne of gold at West Knell. In parallel, Ballard Mining has completed feasibility-level metallurgical test work for the +1.0 Moz at 3.5 g/t Baldock gold deposit, delivering an average metallurgical recovery of 91%. Mine geotechnical assessments to the same level of detail have also been finished for the Baldock open pits and underground, alongside the Kestrel and West Knell open pits.

An updated global Mineral Resource Estimate is currently underway, supported by approximately 150 kilometres of drilling completed since February 2026. Ballard Mining's entire drilling effort through calendar year 2026 has been dedicated to resource growth. This upcoming resource update will underpin the maiden Baldock Ore Reserve, which is expected to capture a material increase supported by significant mineralisation reported during the year. The company achieved fully permitted status at Mt Ida in October 2025 following the receipt of works approval for a processing plant and tailings storage facility.

Infrastructure upgrades accompany the technical work. Ballard Mining has expanded its exploration camp from 22 to 30 rooms and installed four additional production bores at the Lake Raeside Paleochannel. This brings the total number of production bores to seven, supporting the project's 2.5 gigalitre-per-year water license from the paleochannel within a total approved abstraction capacity of 3.7 gigalitres per year. A contract has also been awarded to construct the approved 4-kilometre public road diversion.

Ballard Mining remains well funded with a cash balance of $62 million as of 30 June 2026, following a $61 million placement completed in January 2026 to accelerate drilling and early works.

“Our project development workstreams and early infrastructure works are progressing as planned and demonstrate our confidence in the Mt Ida Gold Project.”

“Our near-term goals remain a 1.5 Moz MRE to underwrite an initial Feasibility Study with a pathway to a 2.0 Moz MRE. These MRE milestones provide a reasonable basis for an aspirational target of an 8 Year and 10 Year Mine Life respectively”

— Paul Brennan, Managing Director

Ballard Mining intends to install dewatering bores around the Baldock mining area during the December quarter of 2026, with an updated Mineral Resource Estimate expected late in the September quarter. A final investment decision for the Mt Ida project is targeted for the first half of calendar year 2027.

Read the full announcement: Project Development and Infrastructure Works update