Breaker goes deep into Bombora for visible gold
6 May 2019
While the market keenly awaits an open cut resource update, Breaker Resources has reported further drill success at depth at the Lake Roe project 100km east of Kalgoorlie.
The company said it had made another lode discovery with “abundant” coarse gold seen in 0.59m of core from 420m below surface. Breaker has undertaken around 200,000m of resource drilling Lake
Roe’s Bombora deposit, with recent drilling looking at the longer term underground potential.
The market remains very keen to see the open cut resource and prefeasibility results. The company said in March it expected to deliver a resource estimate for April/May, but late last month re-scheduled for July.
Prefeasibility results are then expected to be revealed 2-3 months after that, with a 2.5 million tonne per annum development being assessed.
Breaker had about A$3.3 million cash at the start of the current quarter and was budgeted to spend $2.7 million in the current quarter. Shares in Breaker were up 1.5% to 33.5c in morning trade, capitalising
the company at $61 million. The stock was at 44c in March. Its last fundraising was back in October when it attracted $10.5 million in return for shares priced at 29c each.