Breaker eyeing another million after breaking through 1Moz milestone
6 September 2018
BREAKER Resources has passed 1 million ounce mark at the Lake Roe project east of Kalgoorlie and is targeting another 1.3Moz or so below the current resource.
The new revised exploration target of between 6.8 million tonnes and 9.7Mt grading 4.5-5.5 grams per tonne is seen as lying between 250m and 700m below surface.
The new resource of 24.6 million tonnes grading 1.4gpt for 1.08Moz includes 624,000oz in the “measured” category and nearly 800,000oz from surface to 150m depth.
Breaker said “early open pit optimisation studies completed at a gold price of A$1650/oz indicate reasonable prospects for eventual economic extraction”.
It also suggested there was “compelling open pit potential”.
Ongoing drilling is targeting the depth and regional potential.
Shares in the explorer were up 20% to 27c in early trade, capitalising the company at $40 million.
The company raised $10 million just over a year ago when it issued new shares priced at 70c.