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Lake Roe Gold Project

Lake Roe Project Location

The Lake Roe Project is located 100km east of Kalgoorlie between two large gold deposits, the 3.5Moz Carosue Dam mine and the 0.9Moz Karonie gold deposit, located 60km north and 40km south of Lake Roe respectively. The Lake Roe Project comprises nine granted exploration licences and two applications, plus a granted mining lease, with an overall area of ~680sqkm.

Breaker identified a significant new 6km-long gold system at Lake Roe in August 2015 using wide-spaced aircore drilling in an area of thin (5m-10m) transported cover. Three subsequent phases of RC drilling commencing in March 2016 resulted in three separate gold discoveries that now constitute one continuous 3.2km-long discovery (Bombora).

The Company has completed over 283,000m of drilling at Lake Roe. Resource drilling commenced in February 2017 and has generally been conducted with four drill rigs (two RC and two diamond).  Phase 1 of the Resource drilling was completed in April 2019 and Phase 2 commenced in early December 2019 and is ongoing throughout 2021.

A maiden JORC 2012 Mineral Resource (open pit) for the Bombora discovery was released in mid-April 2018, updated in September 2018 and September 2019.  An updated Resource estimate for the Bombora open pit and maiden Resources for Bombora underground, Crescent-Kopai open pit and Claypan open pit were released in April 2021.  The overall Lake Roe Project Resource currently comprises 27.9Mt for 1,370,000oz at 1.5g/t gold.

Nearly 60% of the total Resource is classified as Indicated, whilst 89% of Bombora open pit ounces are classified as Indicated.

Gold mineralisation at Lake Roe typically occurs as sulphide-impregnated “lode” and stockwork mineralisation in the upper, iron-rich part of a thick fractionated dolerite, the Bombora Dolerite. This style of mineralisation is the dominant mineralisation style in Western Australia and is similar to that at several major gold deposits in WA including the Golden Mile, St Ives, Paddington and White Foil. These deposits typically have good depth potential.

Metallurgical testwork results point towards low processing opex/capex with:

  • modest ore hardness (ball mill work index <16kWh/t for fresh mineralisation);
  • gold recoveries of 96-99% (oxide and fresh);
  • gravity gold 31-77% (oxide) and 32-90% (fresh);
  • rapid gold leach kinetics;
  • low reagent consumption; and
  • no deleterious elements.

Environmental, geotechnical and hydrological studies undertaken to date do not highlight any impediments to development.

Breaker’s strategy is to expand the Lake Roe Mineral Resource with regular resource updates to build critical mass for a major development.

The geometry of the kilometric-scale mineralised faults controlling the gold distribution is now well understood and there is good potential to:

  • Follow plunging lodes evident on and at the intersection of these faults; and
  • Extrapolate these faults into areas with anomalous aircore geochemistry that have not been drilled within the 9km gold system. The limited drilling that has been completed in these areas is generally positive and further drilling is planned.

End-of-hole multi-element aircore geochemistry indicates the gold potential at Lake Roe extends over 30km and drilling is planned in several areas.  Several priority targets are evident.  These include:

  • Windward Prospect (historical RC results up to 20.8g/t Au; ASX Release Carnavale Resources Ltd, 13 December 2016);
  • Mako Prospect extending south of Crescent; and
  • the Corsair, Starboard and Booty Prospects.

RC and Diamond Drilling Collars on Aircore Maximum Gold Image and Aeromagnetics

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