Breakaway Resources (ASX: BRW) is fast off the starting block at its Sandy Creek Project in North Queensland with assays from the first four holes of a 22 hole drilling program showing significant copper-gold mineralisation.
Highlights from the first four holes of the 3,700 metre reverse circulation/diamond drilling program included 3 metres at 3.68% copper and 0.57 grams per tonne (g/t) of gold from 47 metres, which bodes well for the company’s next batch of results.
Drilling also returned significant intercepts of 6 metres at 1.21% copper and 0.60g/t gold from 114 metres including 2 metres at 2.46% copper and 0.63g/t gold, and 7 metres at 1.06% copper and 0.33g/t gold from 53 metres including 2 metres at 1.75% copper and 0.55g/t gold.
The mineralisation remains open in all directions with strong potential to extend both down-dip and along strike.
The copper-gold mineralisation at Sandy Creek has now been confirmed over a strike length of 600 metres and to a vertical depth of 120 metres.
Breakaway Resources managing director David Hutton told Proactive Investors today these latest results were a validation of the company’s strategic decision to focus exploration on the Eloise Exploration Project, which encompasses Sandy Creek.
“We only commenced drilling on the project at Sandy Creek and a few other targets in June of this year, so to now less than three or four months later start to see an emerging prospect that could get turned into a resource, that’s a validation of that strategic direction,” he said.
“Given the prospect’s close proximity to the Eloise Copper Mine and the ongoing drilling, we believe that there is real opportunity to quickly generate a potentially economic resource at Sandy Creek.”
Hutton said the company could potentially announce a resource in the first quarter of next year.
Sixteen reverse circulation holes have now been drilled as part of the current program. Diamond drilling and DHTEM geophysics to test down-dip potential is scheduled to begin early next month.
Breakaway expects to receive the results from the remaining holes in the program in the first half of November.
The Sandy Creek prospect lies within Breakaway’s wholly owned Eloise Exploration Project, 70 kilometres south-east of Cloncurry, in the heart of the world-class Cloncurry Mineral District of North-West Queensland.
Sandy Creek lies 20 kilometres west of the operating Eloise Copper Mine, where mining activities recommenced in January 2011 and in which Breakaway has a 30% net profit interest.