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Delta’s exploration team has applied rigorous due diligence at the Mt Ida Project, completing more than 200,000 metres of drilling since acquisition. This work underpinned the release of a 

 in October 2023, building on the maiden MRE delivered the previous year.

Importantly, the gold and lithium resources are separate geological units and can be mined separately (i.e. no sterilisation of either resource). 

Inferred and Indicated Resource of 14.6Mt @ 1.2% Li₂O & 191ppm Ta₂O₅

Indicated Resource of 7.8Mt @ 1.3% Li₂O & 224ppm Ta₂O₅

. The resource is hosted in high-grade LCT pegmatites at Sister Sam, Timoni and Sparrow, with all Mineral Resources located on granted Mining Leases and supported by both open pit and underground mining approvals already in place.

A UNIQUE GEOLOGICAL DEPOSIT IN THE GOLDFIELDS

The Mt Ida Lithium Project covers ~170km² of prospective ground for lithium mineralisation around the fertile Copperfield Grante, within the Mt Ida–Ularring Greenstone Belt.  The Project is around 100km north-west of Menzies in Western Australia’s Eastern Goldfields Province. 

Since acquiring the project in September 2021, Delta Lithium has pursued an aggressive exploration strategy that has delivered exceptional results, successfully defining both a significant lithium resource and a high-grade gold resource.

Building on a strong track record of exploration success and resource growth, Delta Lithium is committed to advancing a clear pathway for lithium development at Mt Ida. The next steps include:

 to assess development options for the lithium resource, in parallel with Ballard’s progress toward gold production. It is important to note that the mineral rights deed between the two parties includes:

 from Ballard Mining’s ongoing gold exploration program where LCT pegmatites are intercepted during drilling.

Delta Lithium automatically owns recovered non-gold metals.

 that strengthen and complement the lithium potential at Mt Ida, delivering long-term value.

Delta Lithium’s extensive drilling campaigns at Mt Ida targeted the lithium deposits within the granted Mining Leases. Alongside the lithium results, gold assays also delivered strong continuity and growth, prompting Delta to release JORC-compliant Gold Mineral Resources to the ASX as a complement to the lithium updates.

In April 2025, Delta announced an updated gold resource of 

, together with plans to demerge the gold assets into a new company, 

. This separation was finalised in July 2025, with Ballard successfully listed on the ASX.

, providing balance sheet strength, ongoing gold exposure, and board representation through a Non-Executive Director. Importantly, Delta maintains the mineral rights to all resources at Mt Ida other than gold. The demerger enables Delta to sharpen its focus on advancing its lithium portfolio and progressing its strategy to become a lithium producer.

Mt Ida Lithium September 2023
	Resource Category	Cut-off	Li₂O			Ta₂O₅
		grade	Tonnes	Grade	Li₂O	Grade
		(Li₂O%)	(Mt)	(% Li₂O)	(Kt)	(Ta₂O₅ ppm)
Sparrow	Measured	0.55	-	-	-	-
	Indicated		1.3	1.0	14	189
	Inferred		1.2	0.9	11	144
	Total Resource		2.5	1.0	25	167
Timoni	Measured	0.55	-	-	-	-
	Indicated		1.5	1.2	18	206
	Inferred		1.3	1.1	14	156
	Total Resource		2.7	1.2	32	183
Sister Sam	Measured	0.55	-	-	-	-
	Indicated		5.0	1.4	72	238
	Inferred		4.3	1.2	50	156
	Total Resource		9.3	1.3	123	200
Total Measured			-	-	-	-
Total Indicated			7.8	1.3	104	224
Total Inferred			6.8	1.1	76	154
Total			14.6	1.2	180	191

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