Breaker Resources boss Tom Sanders has compared the company\u2019s greenfields Bombora discovery to Kalgoorlie\u2019s famous Golden Mile.<\/p>\n
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.\u00a0 \u201cI\u2019m not saying what we have is the Golden Mile, but it is the closet analogy geologically,\u201d he said.<\/p>\n
The Golden Mile is the site of the world-famous Super Pit near Kalgoorlie, owned jointly by gold giants Newmont-Goldcorp and Barrick.\u00a0Mr 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.\u00a0\u201cWhere we\u2019ve stepped out to go deeper, we\u2019ve hit high-grade gold,\u201d he said.<\/p>\n
\u201cWe\u2019ve been drilling steadily for the past three years and had about one discovery each quarter over those three years.<\/p>\n
\u201cDiscovery stories like this are rare, not only in Australia but worldwide.\u201d<\/p>\n
The company is eyeing a high-grade, open pit operation with a 2.5mtpa processing plant. \u00a0\u201cWe could mine this at 1.5g\/t or 2g\/t, or better. We can decide what the all-in sustaining cost is, so it\u2019s a derisking element that is huge,\u201d he said. \u00a0Breaker is planning to announce a resource upgrade next month, with a long-awaited pre-feasibility study targeted for September or October.<\/p>\n
\u201cEither we\u2019ll get taken over and we\u2019ll make a lot of money or we\u2019ll go mining it and we\u2019ll make a lot of money,\u201d he said.<\/p>\n
Mr Sanders said he expected Breaker would be drilling out Bombora for the next 10 years.<\/p>\n
Last month, the company raised $6.3 million to continue its exploration program at Bombora and continue the pre-feasibility study. \u00a0Breaker shares were up 1.5\u00a2, or 5 per cent, to 33.5\u00a2 at 11.25am<\/p>\n","protected":false},"excerpt":{"rendered":"
The West Australian Breaker Resources boss Tom Sanders has compared the company\u2019s greenfields Bombora discovery to Kalgoorlie\u2019s 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 […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[9],"tags":[],"yoast_head":"\n