THE DRILL SERGEANT: Breaker Resources (ASX: BRB) is about to commence two key drilling programs at the company’s Lake Roe gold project in Western Australia, after having completed a $12.4 million capital raising.
Breaker Resources said the funding will be used to undertake resource definition drilling at the outstanding Bombora and Bombora North discoveries at Lake Roe, 100 kilometres east of Kalgoorlie.
The proceeds will also fund maiden reverse circulation (RC) drilling of a highly promising 2.2km-long corridor extending directly north of the Bombora North prospect.
Breaker already has RC drilling underway to prepare the 2.2km Bombora-Bombora North discovery zone for the resource definition drilling.
The company has, to date, claimed two separate gold discoveries in the area, identifying wide, high-grade near-surface gold mineralisation over a 1.6km-long distance.
RC assay results relating to the 600m gap between the two discoveries (200m drill line spacing) are expected within one to two weeks, as are assays from recently completed diamond drilling.
Based on the strength of the results it has achieved to date, Breaker has further RC drilling underway to progressively close the drill line spacing to 100m in preparation for resource definition drilling, which is expected to start in approximately eight weeks, subject to regulatory approval.
A second RC drill rig is expected to arrive on site in the coming week to start scoping the 2.2km-long zone to the north of Bombora North, where wide-spaced aircore drilling previously returned intersections of up to 7.61 grams per tonne gold.
“The proceeds of the raising will enable us to accelerate both our resource building activities and maiden extensional RC drilling on the highly promising corridor extending 2.2 kilometres to the north of the Bombora-Bombora North discoveries,” Breaker Resources executive chairman Tom Sanders said in the company’s announcement to the Australian Securities Exchange.