THE DRILL SERGEANT: Breaker Resources (ASX: BRB) has commenced a major reverse circulation (RC) and diamond drilling program designed to grow the one million-ounce Bombora Resource within the company’s Lake Roe gold project, east of Kalgoorlie in Western Australia.
Breaker Resources indicated the main focus of the drilling will be on extensions and discovery outside the Resource envelope, both along strike and at depth.
Drilling is expected to continue throughout 2020, using at least three drill rigs.
Diamond drilling at Bombora South has already commenced to extend the 3.2km-long gold system to the south.
The initial objective of the drilling is to discover and extend the main mineralised structures (faults) controlling the gold mineralisation observed at Bombora, prior to follow-up resource drilling.
RC and diamond drilling to be carried out at Claypan will test a 2.5km by 500m gold anomaly identified by recent aircore drilling 1.3km southeast of Bombora.
Breaker explained the Claypan anomaly is partially coincident with a newly identified, Bombora Sill-like quartz dolerite and has a geochemical signature comparable with that associated with the Bombora and Crescent primary discoveries.
As with Bombora South, the initial objective is discovery and to pin down the main structures controlling the mineralisation to guide further drilling.
The diamond and RC drill rigs will continue through to just before Christmas and then resume early in the New Year.
A third diamond drill rig will start early in the New Year to commence targeting the down-plunge extensions of the Tura, Daisy and Mindil lodes below the current Resource where reconaissance drilling has previously identified high-grade gold mineralisation.
The initial hole in this area will be a deep (~1,200m) diamond drill hole at the southern end of the Bombora deposit and will be conducted as part of a Department of Mines, Industry Regulation and Safety’s Exploration Incentive Scheme (EIS) co-funded drilling program.
“The drilling campaign was designed to accelerate the unlocking of the immense exploration potential at Lake Roe,” Breaker Resources executive chairman Tom Sanders said in the company’s announcement to the Australian Securities Exchange.
“Our team has done a great job unravelling the geology and believes there is huge scope to grow the one million ounce Resource based on a good understanding of the geology after 225,000 metres of drilling and detailed modelling.
“We are now applying this understanding outside the 3.2 kilometre Resource area to the rest of the 8.5 kilometre mineralisation system.
“The targets are a mix of prospects, some of which have already yielded strong reconnaissance intersections but which are poorly understood and inadequately drilled due to the early focus on Bombora (Bombora South, Bombora Deeps, Crescent).
“Other targets have compelling geochemistry with significant aircore drilling intersections that elevate the probability of fresh discovery (Claypan, Claypan North).
“I think this will translate into cost-effective extensional ounces and further discovery but it is now time to let the drill bit do the talking.
“The business case for our strategy is sound and simple.
“Our discovery cost at Bombora is approximately $18 per ounce…and the market is valuing resource ounces like ours at around $65 per ounce, rising to over $250 per ounce in many cases as projects develop.
“We believe drilling to expand the resource base is likely to add significant value and expand our development options.”