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BREAKAWAY RESOURCES LIMITED

ASX: BRW

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Delisted from ASX 06/11/2013

Breakaway Resources Limited (ASX: BRW) is an Australian exploration company focussed on the discovery and development of high-quality standalone mineral deposits within two of Australia’s premier mineral districts.

The Company’s ongoing exploration activities are focussed on our priority Eloise Exploration Project (copper - gold and silver - lead - zinc) located within the Cloncurry District of North West Queensland and the Wildara and Miranda Projects (nickel) located within the Leinster District of Western Australia’s North Eastern Goldfields.

Project Overview

Breakaway has a quality portfolio of exploration projects strategically located in several highly endowed mineral districts in Western Australia and Queensland. Prospective for nickel sulphides, gold and base metals, a large number of priority targets have been identified on all of the projects.

Exploration activities undertaken in Western Australia during the last 12-18 months have focussed on refining nickel targets on the Wildara Project Group, estimation of a JORC Code compliant Inferred Resource for extensions to the previously mined portions of the 1A Nickel Deposit (Kambalda West Project) and diamond drilling to further test the Saints Nickel Target (Scotia Project).

At the Saints, drilling has reinforced the struturally complex nature and sporadic distribution of nickel sulphides on the target's Western Contact. Despite this, the mineralisation remains open in a vertical direction and suggests that potential exists for further nickel mineralisation at depth beneath the area drilled.

At Wildara, five broad nickel priority areas have been identified. Of these, the presence of both high tenor sulphides within multiple geological settings and the Horn Deposit (JORC Code compliant Inferred Resource of 600,000t @ 1.39% Ni (8,300t Ni metal) makes the Revolution-Horn Trend the highest priority target.

Drilling to further test these priority targets commenced in early February 2010.

At Kambalda West, a JORC Code complain Inferred Resources of 142,000 tonnes @ 2.0% Ni (2,900t Ni metal) was calculated for extensions to the mining depleted portions of the 1A Nickel Deposit based on the results of the successful diamond drilling undertaken by Breakaway during 2008. The resource possesses considerable upside both in terms of size and grade.

At the Eloise Project in Queensland, diamond drilling undertaken by the Company south along strike from the Eloise Copper Mine intersected widespread favourable evidence for copper mineralisation including 1 metre @ 1.96% Cu from 173 metres in 08BERD0043.

Breakaway announced on 11 November 2009 that it had entered into a farmin and joint venture with BHP Billiton Minerals Pty Ltd, termed the Altia Joint Venture Project, which covers an area of approximately 8km2 within the Eloise Regional Exploration Project and hosts the Altia Silver-Lead-Zinc Deposit, where Breakaway has previously announced a JORC Code compliant Resource of 5.78Mt @ 3.96% Pb, 40.3g/t Ag, and 0.49% Zn (7.5Moz of contained silver and 229Kt of contained lead).

BHP Billiton is expected to commence an aggressive diamond drilling programme at Altia in early 2010 following the end of the northern Wet Season.

In addition to the nickel and base metal activities, Breakaway also embarked upon a gold exploration initiative which was focused on short-term opportunities to drive shareholder value.

An initial drilling programme at the Spargos Reward Gold Target (Kambalda West Project) returned encouraging near-surface intercepts immediately adjacent to the historical open pit and underground mine workings - where approximately 30,000 ounces was extracted.

Our primary corporate objective remains the discovery of stand alone nickel sulphide deposit of not less than 30Kt nickel metal @ 3% Ni (in Reserve).

Mine For

copper, nickel, lead, silver, zinc, platinum

Location of operation(s)

Queensland, Western Australia

Address

Level 2 23 Ventnor Ave
WEST PERTH, WA, AUSTRALIA

Phone

(61 8) 9278 6444

Email

Website


Last Updated

28/09/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.