Bombora up 500,000oz on drilling hits over five months
25 October 2018
Breaker Resources executive chairman Tom Sanders is confident of resource growth at the Bombora discovery, 100km east of Kalgoorlie-Boulder, after the junior explorer posted strong results on Tuesday.
Better hits included 5m at 12.38g/t and 5m at 10.96g/t and Mr Sanders said it was increasingly clear the resource had potential to grow significantly and quickly. “We have added 500,000 ounces at
a cost of $11/oz in the past five months and the deposit remains open in all directions,” he said.
“Now the combination of these latest results and the greater understanding of the deposit shows we are well on track to grow the resource to the next level.
“The main aim of our current drilling is delineating shallow ounces to provide the critical mass for a large standalone open pit development as well as growing the overall size of the deposit.”
The latest results come from a 7514m ongoing drill program and come on the back of Breaker posting an updated resource of 24 million tonnes of gold-bearing ore at 1.4g per tonne for 1.1Moz last month. Mr Sanders said the results coupled with recent resource growth pointed to the potential for production at the Lake Roe project. “Once we are confident that we have identified the likely depth and strike extents of open-pit mining, an enviable problem to have these days, we will close off our prefeasibility study and take steps to quantify an underground resource,” he said.
“Pre-feasibility study activities are well under way to create scope for early monetisation.
“In the meantime we will continue a systematic exploration program to build value, increase the resource and expand our development options through the drill bit.”
Breaker successfully rattled the tin for $10.5 million through a successful share placement at the start of the month. Breaker closed the day down 2.5¢, or 6.67 per cent, at 35¢ yesterday.