Breaker gains on extension
27 June 2017
Shares in gold explorer Breaker Resources charged yesterday on the back of news its target area at the Lake Roe project, 100km east of Kalgoorlie-Boulder, had extended by 2km.
The new gold system is mapped at 8km of strike, building on the 2.2km-long Bombora discovery made early last year.
Evidence the Bombora North and Bombora orebodies met through a rich vein of gold mineralisation last year drummed up similar excitement, with investors showing interest again after aircore drilling intersected primary gold mineralisation to the north and south of previous discoveries.
Breaker shares closed up 6.5 or 10.2 per cent at 70 yesterday after an intraday high of 71 – a final result just 5 shy of the 75 alltime high the stock hit in late May.
Positive newsflow from Breaker’s exploration activities have sparked comparisons to the early years of Gruyere developer Gold Road Resources and encouraged brokers Patersons Securities to estimate a potential 1 million ounce resource in the underexplored region east of the Golden Mile.
End of hole samples returned maximum values of 1.24g per tonne gold in the shallow, 5775m air-core program.
But rather than grades, it is the supposed similarities between the mineralisation in the northern and southern hinge areas to the Bombora host rock that Breaker executive chairman Tom Sanders is trumpeting.
Reverse-circulation drilling will follow once regulatory approval is given, with two RC rigs and a diamond-drill rig on-site for drilling at the main Bombora orebody, where a resource estimate is due later this year.