A revised exploration target of up to to 1.4 million ounces of gold, estimated over a vertical distance of 450m below the updated mineral resource has also been confirmed.<\/p>\n

The target is based on proposed diamond drilling which has commenced but will likely take several years to implement, transitioning from initial scoping-style drilling to full drill-out, subject to ongoing success.<\/p>\n

Breaker executive chairman Tom Sanders said the updated resource and exploration target signals a \u201cpivotal moment\u201d for Bombora.<\/p>\n

\u201cWe have achieved our previous exploration target of over 1moz just five months after announcing it and we have mapped out a clear pathway to materialise the value of this exciting discovery,\u201d he said.<\/p>\n

\u201cWith a much clearer picture of the mineralisation controls to hand, we are now finding a lot more gold, more quickly and this is reflected in an improved discovery cost of $18\/oz compared to $23\/oz for our maiden resource.<\/p>\n

Avenues for growth<\/h2>\n

Mr Sanders said Breaker has \u201cmultiple avenues\u201d to continue growing the Bombora resource along strike, at depth and regionally with a planned aggressive drilling program using up to four rigs.<\/p>\n

The most immediate opportunity exists at depths below 250m, where the presence of continuous high-grade gold mineralisation in steep and flat orientations provides an \u201cobvious focus\u201d for drilling.<\/p>\n

Priorities include delineating and upgrading more shallow ounces, conducting deeper drilling to scope out underground potential, and testing a large number of targets surrounding Bombora.<\/p>\n

Pre-feasibility study<\/h2>\n

In parallel with the drilling, Breaker has begun a pre-feasibility study at Bombora to assess the viability of a standalone open pit mining operation, with future underground potential.<\/p>\n

Early open pit optimisation studies completed at a gold price of A$1650 per ounce have indicated \u201creasonable prospects for eventual economic extraction\u201d.<\/p>\n

\u201cWith no mining legacy issues at Bombora and a [substantial] gold endowment within the top 150m of the deposit, there is compelling open pit potential which will be evaluated by our study over the coming months,\u201d Mr Sanders said.<\/p>\n

Gold deposits in the Lake Roe region typically occur as sulphide-impregnated \u201clode\u201d and stockwork mineralisations in the upper, iron-rich part of the thick Bombora dolerite.<\/p>\n

This style of mineralisation dominates WA\u2019s goldfields and is similar to that found at several major gold deposits in the area including Golden Mile, St Ives, Paddington and White Foil.<\/p>\n

The 2.2 kilometre Bombora discovery forms part of an 8km-long greenfields gold system concealed by thin transported cover, typically up to 10m, within Lake Roe.<\/p>\n