Breakaway ready to run maiden Resource numbers

/in /by

THE DRILL SERGEANT: Breakaway Resources is about to commence work on a maiden JORC compliant resource estimate for the company’s Sandy Creek copper-gold prospect, located south-east of Cloncurry in North Queensland.

The estimate calculation follows the receipt of results from a recent 10-hole Reverse Circulation (RC) drilling program completed in June, which the company said has laid the foundations both for the maiden resource and for a preliminary economic assessment of the Sandy Creek project.

The recent drilling intersected broad widths of copper-gold mineralisation in both the Main and Western Zones at Sandy Creek.

Breakaway said the results from the Main Zone confirm potential for a steeply-plunging high-grade shoot or core.

Results include:

–    12 metres at 1.38 per cent copper, 1.56 grams per tonne gold from 218 metres;

–    8m at 1.99 per cent copper, 0.14g/t gold from 128m and 4m at 1.99 per cent copper, 0.45g/t gold from 156m; and

–    4m at 1.99 per cent copper, 0.44g/t gold from 156m.

 

Sandy Creek prospect Main Zone long-section showing new drill results and DHTEM Conductor. Source: Company announcement

 

Broad widths of higher grade mineralisation were intersected at the newly identified Western Zone, situated 100m west of the Main Zone, with best results including:

–    10m at 1.34 per cent copper, 0.23g/t gold from 213m;

–    10m at 1.63 per cent copper, 0.22g/t gold from 32m; and

–    6m at 2.00 per cent copper, 0.28g/t gold from 118m.

Mineralisation at the Western Zone remains open along strike and at depth.

“The drilling results from Sandy Creek indicate the potential for a medium size open pit development encompassing the Main Zone and the currently poorly tested Western Zone,” Breakaway Resources managing director Victor Rajasooriar said in the company’s announcement to the Australian Securities Exchange.

“During the current Quarter, we will undertake initial scoping work in parallel with the resource estimation to determine how best to progress Sandy Creek to the next level.

“Of particular note is the higher grade zone of mineralisation intersected down-plunge at the southern end of the Main Zone.

“The higher tenor copper and gold results in this area, combined with the presence of a strong offhole DHTEM anomaly further down-plunge of the most recent drilling, point to a potential emerging high-grade core.

“The presence of a plunging core is typical of the nearby Eloise copper mine, and could indicate the presence of a much larger deposit at Sandy Creek.

“Developing a better understanding of this potential and undertaking some drilling to test the down-plunge extensions of the mineralisation will be a priority for us moving forward.

“The positive drill results from the Western Zone highlight the larger potential of the Sandy Creek mineralised system and the requirement for further drilling.”