Breakaway Resources reveals more copper potential ahead of follow up drilling at Eloise

Sep. 07, 2011 12:07 AM ET
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Breakaway Resources (ASX: BRW) has unveiled a strong electro-magnetic (EM) conductor within the central portion of the Sandy Creek prospect by reinterpreting historic geophysical data at its Eloise Exploration Project.

The conductor has been identified ahead of a new round of 3,700 metre follow-up diamond drilling due to start at the prospect in the heart of the world-class Cloncurry Mineral District of North Queensland next week.

Significantly, the EM conductor reinforces the extensional potential of Sandy Creek, given that the conductor has geophysical characteristics potentially indicative of massive copper sulphide mineralisation and that it extends down-dip from known copper mineralisation.

The EM conductor will be drill tested during the upcoming program. Drilling will in-fill existing copper–gold mineralisation and test for depth and strike extensions. An initial resource in expected in October.

Geophysical surveying will further test the significant new copper system defined in August that intersected broad widths of mineralisation over a 600 metre strike length to a depth of 120 metres. Numerous intercepts included:

- 10 metres at 2.0% copper, 0.47 grams per tonne (g/t) gold from 121m including 3 metres at 3.0% copper, 0.92g/t gold from 128 metres;
- 3 metres at 2.2% copper, 0.47g/t gold from 146 metres; and
- 9 metres at 1.75% copper, 0.15g/t gold from 139 metres.

The mineralisation displayed strong geological similarities to the nearby Eloise Copper Mine. Sandy Creek lies within the 100%-owned Eloise Exploration Project, which is located 70 kilometres south-east of Cloncurry.

The upper edge of the EM conductor corresponds to high grade copper-gold mineralisation in holes previously drilled at Sandy Creek.

Intersections included: 8 metres at 1.67% copper, 0.44 grams per tonne (g/t) gold from 113 metres including 1 metre at 4.62% copper, 0.98g/t gold from 113 metres

The interpreted lower edge of the EM conductor lies 125 metres down dip of the a previous intercept and the conductor remains largely untested by drilling.

Drilling will also determine internal continuity and test for potential extensions to the mineralisation along strike while deeper diamond drilling will test the down-dip potential of the prospect and establish “platforms” for follow-up DHTEM surveying.

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