Clearer picture for Breaker
27 April 2017
The Kalgoorlie Miner
Market darling Breaker Resources says the full picture of its Bombora discovery 100km east of Kalgoorlie is starting to emerge as results come back from infill drilling, while junior neighbour Kairos Minerals has continued to expand its holdings in the virgin gold region.
Breaker executive chairman Tom Sanders said the latest round of reverse circulation assays continued to provide additional steam for the Lake Roe project’s underground and open pit potential.
“We have now drilled about 70,000m and the quality and size dimension of the results continue to be consistent with the early stages of a large, new greenfields gold camp in a premier mining jurisdiction,” he said.
Breaker’s quarterly cashflow report, also released yesterday, showed it had about $9.5 million in cash or cash equivalents to move forward with exploration, after tipping about $1.1 million into the ground in the March quarter.
The company is targeting a maiden JORC-compliant resource later this year.
Kairos has secured a set of exploration licences which once formed part of AngloGold Ashanti’s East Tropicana portfolio.
Joshua Wellisch-led Kairos already has ground adjacent to Breaker at Roe Hills which was once held by Western Mining Corporation.
The 398sqkm exploration holding it has dubbed the Bronco Plains Project lies 30km east of Roe Hills, where it is preparing another round of drilling. “We have an over-arching strategy to continually assess opportunities which will complement the company’s flagship Roe Hills Project,” Mr Wellisch said.
“Bronco Plains represents an exciting addition to our existing high-quality exploration portfolio in the Southern Kurnalpi region, which we consider to be highly prospective and under-explored.” Breaker shares closed at 58 while Kairos closed at 3.