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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
This article includes content from Breaker Resources NL , licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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