Sizeable boost for Breaker
29 April 2021
EASTERN Goldfields-focused explorer Breaker Resources’ drilling has delivered maiden resources for two potential satellite pits, and an underground operation.
Resources at the company’s much touted Lake Roe project, east of Kalgoorlie, now tops 27.9 million tonnes at 1.5 grams per tonne or 1.37 million ounces, with the company adding 389,000oz drilling below Bombora deposit and at the nearby Crescent-Kopai and Claypan discoveries, located within 2km, within a 9km-long gold system.
The 40% resource boost comes from a defined 85,900oz at 0.9gpt at Crescent-Kopai and 67,300oz at 1gpt at Claypan, while the flagship Bombora deposit has been remodelled for a total resource of 1.22Moz at 1.6gpt.
The prior open pit resources were 981,000oz at 1.3gpt, using a 310m pit depth and 0.5gpt cut-off, however the revised model delivers 803,000oz at 1.4gpt using a 210m depth.
Drilling has allowed all mineralisation below 210m to be counted in a maiden underground resource that ranges from 290,900oz at 3.6gpt using a 2gpt cut-off, to 413,700oz at 2.4gpt using a 1gpt cut-off.
Bombora remains open at depth, with deeper drilling indicating a high-grade potential that is yet to be fully defined.
Executive chairman Tom Sanders said there are good drill intersections in several areas without enough drilling to quantify a resource, and plenty of assays still at the lab.
He remains confident Lake Roe is a large-scale mineralised system with over 30km of prospective geology, and plenty of growth to come – particularly as the company has been conservative with its assumptions.
The shallow satellite pits are open in multiple directions, and the company has numerous follow-up targets along the recently-identified southern extension of the prolific Laverton Tectonic Zone including Mako, Carbineer, Corsair, Starboard and Booty.
Breaker’s stock has traded between A16.5-32.5c over the past year, and its shares were up 2.3% today to 22c, valuing it at $72 million.
The company has around $18 million in cash to fund its multiple-rig drilling plans.