Breaker hoping for ‘transformational’ result
6 July 2017
MiningNews.net
EMERGING exploration junior Breaker Resources is awaiting assays that could potentially be “transformational” for its Lake Roe project 100km east of Kalgoorlie.
The assays relate to deep diamond drilling at the southern end of the 2.2km long Bombora gold discovery.
Breaker said strong sulphide lode mineralisation had ben intersected up to 300m below surface by the company’s deepest diamond drilling to date.
“The visual indications from BBDD0020, drilled in a relatively weakly mineralised area under our deepest intersection to date (BBDD0010), has the potential to be transformational if confirmed by assay results,” Breaker said. The latter hole recorded 5.3m grading 7gpt from 244m.
The current hole awaiting assays was drilled after Breaker decided to reverse the direction of the drill rig.
The subsequent discovery of primary sulphide lodes was the first made in that area.
Breaker has now drilled some 89,000m, with the company saying a “lot more” drill work remained to be undertaken. A maiden JORC resource is being targeted by the end of the year.
Based on Breaker’s budget forecasts for the just completed June quarter, the junior is estimated to currently have about A$7.7 million cash.
Shares in Breaker were up 2% to 68.5c in late trade, capitalising the company at $87 million. The stock was at less than 20c 12 months ago.