Breaker bullish, market awaiting resource
21 February 2018
BREAKER Resources is continuing to report “strong” gold drilling results to muted reaction as the market awaits next month’s maiden resource estimate for the Bombora discovery.
The string of infill hits reported today included a standout 34m grading 14.24 grams per tonne from 44m, with the resource drilling continuing along the 2.2km long Bombora discovery east of Kalgoorlie.
Indeed Breaker made a point of saying resource drilling “will continue well after the release of the maiden JORC resource” – expected late in the March quarter.
“Modelling now underway shows the immense potential at Lake Roe over what is a very large area,” Breaker said.
“It will take time to drill-test this extensive area, but that is a good problem to have in the world of exploration.
“Importantly the results show a consistency of structure that is evident over the full 2.2km strike length of the discovery. This upgrades the mining potential and assists in finding more gold along strike and at depth.”
Despite the positivity the market was little moved on what was admittedly looking to be a soft day for the ASX gold sector.
Shares in Breaker were up 1% to 53.5c in midday trade, capitalising the company at $77.6 million.
Breaker raised $10 million just under six months ago by issuing new shares at 70c each.