Breaker Resources’ ‘Golden Mile’ Bombora deposit still delivering the high grade hits
4 June 2019
The West Australian
Breaker Resources boss Tom Sanders has compared the company’s greenfields Bombora discovery to Kalgoorlie’s famous Golden Mile.
Speaking at the Resources Rising Stars conference on the Gold Coast, Mr Sanders said the company had barely scratched the surface at Bombora despite drilling 247,000m since listing in 2012 and defining a resource of 1.1 million ounces. “I’m not saying what we have is the Golden Mile, but it is the closet analogy geologically,” he said.
The Golden Mile is the site of the world-famous Super Pit near Kalgoorlie, owned jointly by gold giants Newmont-Goldcorp and Barrick. Mr Sanders said the 2.5km-long Bombora deposit, which lies about 100km east of Kalgoorlie, remained open in every direction, with the company only defining resources to a depth of 250m. “Where we’ve stepped out to go deeper, we’ve hit high-grade gold,” he said.
“We’ve been drilling steadily for the past three years and had about one discovery each quarter over those three years.
“Discovery stories like this are rare, not only in Australia but worldwide.”
The company is eyeing a high-grade, open pit operation with a 2.5mtpa processing plant. “We could mine this at 1.5g/t or 2g/t, or better. We can decide what the all-in sustaining cost is, so it’s a derisking element that is huge,” he said. Breaker is planning to announce a resource upgrade next month, with a long-awaited pre-feasibility study targeted for September or October.
“Either we’ll get taken over and we’ll make a lot of money or we’ll go mining it and we’ll make a lot of money,” he said.
Mr Sanders said he expected Breaker would be drilling out Bombora for the next 10 years.
Last month, the company raised $6.3 million to continue its exploration program at Bombora and continue the pre-feasibility study. Breaker shares were up 1.5¢, or 5 per cent, to 33.5¢ at 11.25am