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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.

The Company has completed ~140,000m 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 maiden Resource is due to be released by mid-April 2018.

The results to date indicate compelling mining potential (open pit and underground). Results include:

Bombora RC and diamond drill hole location plan with selected intersections colour-coded in red (diamond holes) and blue (RC holes) ; Drill holes colour-coded by average downhole gold over aeromagnetic image with interpreted geology

Lake Roe Bombora Cross Section 6601700nM

Lake Roe Bombora Cross Section 6601640mN

Lake Roe Bombora Cross Section 6601100mN

Lake Roe Bombora Cross Section 6601840mN

The 2.2km-long Bombora discovery is open along strike and depth and 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.

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.

The close-spaced drilling is starting to identify more previously “hidden” west-dipping lodes that are orientated sub-parallel to the drill orientation and therefore difficult to “see” – eg. 24m @ 3.12g/t gold including 11m @ 6.33g/t gold from BBRC0693 on the 6601960N section. These have scope to augment the ounces per vertical metre in any mining scenario.

The discovery in late 2017 of a new, subvertical, high-grade lode on 6602040N in BBRD0675 – 9m @ 35.88g/t Au from 131m including 2m @ 108.55g/t Au, further upgrades the potential for long-term underground mining. This is important as it has scope to add multiples to any shallow gold inventory constrained by the economic limits of open pit mining.

Long section analysis highlights the untested depth potential.

(Top) Gram x metre long section of the 2.2km Bombora discovery and immediate extensions showing location of significant down-hole intercepts in relation to Northing and depth (no adjustment for true width); (Inset) Long section view of White Foil Resource at the same scale as above long section

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