- Breaker Resources (BRB) increases the Lake Roe gold project’s mineral resource estimate (MRE) by 23 per cent, or 314,000 ounces
- The global resource now stands at 31.9 million tonnes at 1.6g/t for 1.68 million ounces of gold and was generated by independent consultants Optiro
- According to Breaker, most of the increase in the new estimate comes from the Bombora underground resource area where 87 per cent of the additional drilling was focused
- Managing Director Tom Sanders says the increase was a “fantastic result” that highlighted the potential of the Lake Roe project
- Company shares are up 1.69 per cent to trade at 30 cents
Breaker Resources (BRB) has increased the Lake Roe gold project’s mineral resource estimate (MRE) by 23 per cent, or 314,000 ounces.
The global resource now stands at 31.9 million tonnes at 1.6 grams per tonne (g/t) gold, representing 1.68 million ounces of contained gold, compared to a previous estimate of 27.9 million tonnes at 1.5g/t gold for 1.37 million ounces in April 2021.
This MRE marks the fourth update since the Lake Roe maiden MRE was announced in April 2018 and started at 11.8 million tonnes at 1.6g/t gold for 624,000 ounces.
The new mineral resource was generated by independent consultants Optiro, and is based on a further 18 diamond drill holes and eight reverse circulation (RC) holes at Bombora South.
According to Breaker, most of the increase — 245,000 ounces — in the new estimate comes from the Bombora underground resource area where 87 per cent of the additional drilling was focused, and where mineralisation remains open along strike and at depth.
The updated MRE also includes a slight increase in the Bombora open pit area — 21,000 ounces — where limited RC drilling continued to extend the strike of the Bombora lodes to the south. Mineralisation also remains open to the south in this area.
Managing Director Tom Sanders said the increase was a “fantastic result” that highlighted the potential of the Lake Roe project.
“We believe that the new resource provides a solid foundation for a long-term mining project with attractive margins at current gold prices,” Mr Sanders said.
“The high-grade growth potential immediately below the open pit resource is wide open and we are seeing several areas opening up with the grade and continuity that is attractive for underground mining.”
Company shares were up 1.69 per cent to trade at 30 cents at 12:45 pm AEDT.