BRB Fails To Move Up Even With Enhanced Gold Potential At Bombora Deposit

  • Dec 12, 2018 AEDT
  • Team Kalkine
BRB Fails To Move Up Even With Enhanced Gold Potential At Bombora Deposit

Gold explorer Breaker Resources NL’s (ASX: BRB) shares went down by 2.941 percent today (i.e., 12 December 2018) despite announcing new high-grade results which have further expanded the known extent of the Bombora gold deposit in diverse directions.

Latest drill results from the 1.1million-ounce Resource Bombora gold deposit include:

  • BBRC1020 9m @ 13.86g/t Au (incl. 4m @ 29.99g/t).
  • BBRC0995 4.0m @ 10.79g/t Au.
  • BBRD0782 12.9m @ 2.35g/t Au (incl. 5.2m @ 4.44g/t).
  • BBDD0078 15m @ 4.99g/t Au (incl. 11.1m @ 6.26g/t).

The drilling results at Bombora have paved the way for further increase and upgrade in the current 1.1 million-ounce Resource. The results from Bombora gold deposit indicate that the outer limit of potential open pit mining is likely to continue expanding along strike, at depth and to the east.

The company also announced the results of the exploratory drilling at the Bombora South Prospect which was aimed at identifying the primary source of extensive supergene gold anomalism. The Bombora South drilling have successfully confirmed a primary gold mineralization in 2 areas that correlate with the Bells and Harbord Faults. These results have enhanced the gold potential of the Bombora South Prospect over a wide area.

The company also announced the results of the exploratory RC drilling at the Crescent Prospect that was aimed at further assessing the discovery holes, which were earlier announced by the company on 31 July 2018. The drilling results at the Crescent Prospect have successfully confirmed the discovery of continuous shallow gold mineralization over a 300m x 200m area that has good open pit potential that is open to the north and down-dip. These results indicate the increasing diversity of mineralization style and the camp-scale growth potential of the Lake Roe Project.

The Company is continuing with its aggressive drilling with four drill rigs targeting ongoing rapid Resource growth, and concurrent pre-feasibility study (PFS) activities targeting an early, large, stand-alone open pit development. In the September quarter report, the company informed that the PFS-level geotechnical studies have indicated an overall open pit wall slope angles of approximately 44 to 48 degrees incorporating requisite ramp access, berms, and geotechnical berms. These wall slope angles are consistent with overall slope angles assumed for preliminary open pit optimizations.

Earlier in the month of November, the company announced regarding a discovery of high-grade lithium at Lake Roe Gold Project, 100 kilometers east of Kalgoorlie in Western Australia, following a 1,503m program of reconnaissance reverse circulation (RC) drilling. In the September quarter, the net cash used in operating activities was $3.03 million. As at 30 September 2018, the company was having cash and cash equivalents of $2.17 million.

Meanwhile, in the last six months, the share price of the company increased by 33.33 percent as on 11 December 2018. BRB’s shares traded at $0.33 with a market capitalization of circa $62.11 million as on 12 December 2018 (AEST 3:30 PM).


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

 

All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK