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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.

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:

 seeking to take advantage of potential biproduct revenues.

 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.

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.

Inferred and Indicated Resource of 14.8Mt @ 1.2% Li₂O, 170ppm Ta₂O₅ and 0.42% Rb₂O

Indicated Resource of 7.2Mt @ 1.34% Li₂O & 215ppm 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.

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

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