Breaker Resources Cashed Up and Ready to Fly at Lake Roe

COMMODITY CAPERS: Breaker Resources (ASX: BRB) is focused on its expanding Lake Roe gold project in a greenfields district, 100 kilometres east of Western Australia’s gold mining hub of Kalgoorlie.

In December 2021, Breaker announced a 23 per cent increase in the Lake Roe Mineral Resource that increased global Resources for the project by 314,000 ounces to 1.68 million ounces.

This came on the heels of a 40 per cent increase in April 2021.

The company declared the robust mining potential is apparent at the Bombora deposit when typical standalone cut-off grades are applied:

Open Pit Resource
11.2 million tonnes at 1.9 grams per tonne gold for 688,000 ounces (0.8g/t cut-off above 100mRL); and

Underground Resource
4.4Mt at 3.6g/t gold for 501,000 ounces (1.8g/t cut-off below 100mRL).

 

 

 

 

Breaker is confident the new Resource provides a solid foundation for a long-term mining project with attractive margins, especially given current gold prices.

The high-grade growth potential immediately below the open pit Resource is wide open, from where several areas are opening with a grade and continuity suitable for underground mining.

“We are looking forward to start the transition from discovery into mine development studies over the ensuing year,” Breaker Resources managing director Tom Sanders said.

“Accordingly, we plan to ramp up our drilling to firm up the best areas for development, while expanding the Resource in other areas at the same time.”

Breaker Resources expects to start the transition from discovery into mine development studies throughout 2022.

In accordance with these aspirations, the company has signalled ramping up its drilling timetable to firm up the best areas for development, while expanding the Resource in other areas at the same time.

 

 

 

 

Breaker’s decision to divest 80 per cent of the Manna lithium rights at Lake Roe to ASX-listed Global Lithium Resources late last year, in a deal worth up to $33 million, to maintain its core focus on gold has turned out to be an astute move.

Global Lithium paid Breaker $13 million upfront comprising $6.5 million in cash and $6.5 million in Global Lithium shares to secure the deal.

Looking ahead, Global Lithium will pay Breaker a further $10 million on definition of a Mineral Resource containing more than 250,000 tonnes of contained Li2O.

Keep the crystal ball on, because Global Lithium will pay Breaker a further $10 million upon production of 100,000 tonnes of contained Li2O.

The new owners are already rapidly advancing the project with Global Lithium Resources recently announcing a maiden Inferred JORC Mineral Resource estimate for the Manna lithium project of 9.9 million tonnes at 1.14 per cent lithium oxide and 49ppm tantalum pentoxide.

Manna was discovered by Breaker Resources by way of initial drilling of the deposit in 2018.

 

Email: breaker@breakerresources.com.au
Web: www.breakerresources.com.au
Directors: Peter Cook, Tom Sanders, Mark Edwards, Mike Kitney, Linton Putland, Eric Vincent