Please find attached an ASX release by Global Lithium Resources Limited (GL1) announcing the mobilisation of the drilling contractor to the Manna Lithium deposit, situated within Breaker Resources NL’s 1.7Moz# Lake Roe Gold Project. The diamond drill rig will commence an initial 4,000m drilling program, complementing a 20,000m RC drilling program currently underway.
A maiden Inferred JORC Mineral Resource of 9.9Mt @ 1.14% Li2O and 49 Ta2O5 ppm^ was previously announced on 17 February 2022. The pegmatite system at Manna is open in all directions with several mineralised trends extending over a 5km x 1.5km area.
Breaker retains a 20% free-carried interest in the Manna Lithium Project with Global Lithium carrying all costs and expenditure to completion of a positive bankable feasibility study (BFS). Breaker is also entitled to milestone payments of up to $20 million.
On behalf of the Board of Directors,
For further information on Breaker Resources NL please visit the Company’s website at www.breakerresources.com.au, or contact:
Investors/Shareholders
Tom Sanders
Tel: +61 8 9226 3666
Email: breaker@breakerresources.com.au
About Breaker Resources NL
Breaker Resources NL (ASX: BRB) is unlocking the potential of a new 1.7Moz greenfields gold district discovered in the Kalgoorlie region of Western Australia, the world’s topranked mining jurisdiction.
The operational strategy is to develop a large open pit and underground gold mine while concurrently drilling to keep expanding the rapidly growing Resource. Major shareholders include the Electrum Gold Fund (10%), Paulson and Co (10%) and Franklin Templeton (6%).
The key attributes of the Lake Roe Project are its scale and high-grade mining optionality. Gold at the main deposit starts 5m from surface and occurs over a 150m-wide zone in a 3km-long single pit configuration, part of a 9km-long gold system. High-grade lodes discovered in the last year have confirmed that open pit mining will transition to underground mining.
Free-carried lithium interests situated within the Lake Roe project have the potential to fund a large part of the capital expenditure expected for a standalone development. PFSlevel pre-mining studies to date indicate no impediments to development.
The exciting Ularring Project, situated in the emerging SW Yilgarn mineral province, hosts a known goldcopper system and untested nickel and PGE potential in a large, previously undrilled mafic-ultramafic belt. BRB’s initial drilling is expected to start in the next 1-2 months.
Click here for the full ASX Release
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