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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 six granted tenements with an overall area of ~550sqkm.

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 2.2km-long discovery (Bombora).

The Company has completed ~155,000m of drilling at Lake Roe, most of which has been reconnaissance in nature. Closer spaced resource drilling commenced in February 2017 and is currently underway with three drill rigs (one RC and two diamond); a fourth rig is anticipated to join the program in May 2018.

A maiden JORC 2012 Mineral Resource for the Bombora discovery was released in mid-April 2018 comprising 11.8Mt for 624,000oz at 1.6g/t gold, including a high-grade component of 306,000oz at 4.2g/t gold.The Resource is limited by drilling and open in all directions, and only incorporates results within 200m of surface.

The Company has identified an Exploration Target of 1.1-1.3Moz and is aiming to delineate 700-800,000oz of mineable gold in a single 2.1km long open pit within the next 8-12 months.  The Bombora discovery forms part of a 8km-long gold system that remains open along strike.

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.  Cross sections of drilling results to date show consistent structural framework.

Bombora Cross Section 6601800N

Bombora Cross Section 6602040N

Sulphide Lode 4.20g/t Au (BBRC0180; 101-102m)

The sulphide lodes represent sulphide-impregnated fault zones (fluid pathways) with up to 10% pyrrhotite and pyrite accompanied by silica, albite, biotite and carbonate alteration and (tensional) quartz-pyrite veinlets that can form stockwork-style mineralisation. The intersection of the mineralised faults and the iron-rich part of the dolerite defines the orientation of the plunging lode and stockwork mineralisation.

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.

Further metallurgical work, as well as baseline environmental and hydrogeological studies, are imminent as the Company considers development options.

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