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Breaker Resources NL
Summary
| Project: | Lake Roe | |
|---|---|---|
| Deposit: | Bombora | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 9/2/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 2-9-2019: Breaker Resources NL announces a Resource Estimation report for its Bombora deposit at the Lake Roe project. 30% increase in Indicated resource at Bombora. Breaker Executive Chairman Tom Sanders said the substantial increase in the Indicated Res | |
| Resources: | (Resource, I+I): 23.2Mt @ 1.3g/t Au at Bombora | |
| CP/QP: | [Resources]: Christine Shore (Internal) | |
| ABSTRACT: | Breaker Executive Chairman Tom Sanders said the substantial increase in the Indicated Resource underpinned the Company’s near-term objective of completing the pre-feasibility study and establishing Bombora as a robust, low-risk project. “We now have a high-confidence Indicated Resource with significant scale,” Mr Sanders said. “This will underpin our impending PFS, meaning our near-term objective has been met. “While the PFS is being finished, we will turn our attention to growing the total Resource. We are confident we will achieve this next goal given the significant amount of known mineralisation outside the Resource envelope and the extent to which the Resource remains open along strike and at depth.” Mr Sanders said Breaker aimed to establish a near-term, high-margin open pit mining option that can be expanded with further drilling during and beyond the feasibility process. “It is very much a shallow open pit Resource that we plan to keep growing from a solid economic base,” he said. “The high (80%) component of near-surface Indicated Resource shows we are well on track to developing a shallow open pit mine with significant upside. “Our mining studies indicate potential for a large open pit at gold prices as low as A$1,000/oz (ASX Release 18 April 2018) at a time when the current gold price is substantially higher (A$2,280/oz). “The detailed drilling undertaken to attain Indicated status has also provided an excellent understanding of the deposit geology. This further de-risks the project and improves our ability to confidently extrapolate the various lodes at depth which we will aggressively target with more drilling. “Drilling in areas of Inferred mineralisation is incomplete and the plan is to flesh out these areas with more drilling and keep increasing the size of the deposit, with an early focus on open pit ounces along strike and at depth. “I think we will be drilling and growing the Resource at Bombora for many years to come.” | |
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