More Breaker gold hits
31 January 2017
Ongoing infill drilling at Breaker Resources’ Lake Roe gold project east of Kalgoorlie has delivered the company strong headline numbers from a potentially shallow dipping lode.
A hit of 7 metres grading 61.78 grams per tonne gold from 59m, including 4m at 105gpt, was the standout, with the drilling said to have highlighted a previously unknown sub-horizontal high-grade gold lode striking “at least” 100m.
Breaker suggested there were “at least” two main mineralised orientations at the Bombora prospect, with the sub-horizontal mineralisation having obvious positive economic implications if confirmed.
The company also suggested confirmation of high-grade shallow lodes could represent an opportunity for “custom milling”.
Breaker has two RC drill rigs in action, and a diamond rig about to start boring.
It is unclear when an initial resource will be estimated.
The company is estimated to have in the order of $A10-11 million cash, having raised $12.4 million late last year by issuing new shares priced at 50c.
Shares in Breaker were up 12% to 52.5c in early trade, capitalising the company at $66 million.