Shares in ASX-listed Breaker Resources NL rose by more than 24% on Sept. 6 after the company announced a 74% increase in contained gold at the Bombora deposit within its Lake Roe project in Western Australia.
An updated estimate determined that the deposit now hosts total resources of approximately 1.1 million ounces of gold, compared to 624,000 ounces of gold in the initial estimate released in April, driven by 25,500 meters of successful drilling.
Resources are contained within 24.6 million tonnes at 1.4 g/t of gold and are reported at a 0.5 g/t cutoff, Breaker said.
About 58% of the resource, or 624,000 ounces of gold, is in the indicated category and is available for conversion to reserves. The company said there is potential to further grow the resource, which remains open in all directions.
Breaker commenced a pre-feasibility study based on the current resource to assess the viability of a stand-alone mining operation.