8,300 tonnes of nickel for the Horn deposit

21 April 2008 | 03:44 Code : 17182 Geoscience events
Breakaway Resources Ltd announced yesterday a maiden Inferred Resource...
8,300 tonnes of nickel for the Horn deposit

  Breakaway Resources Ltd announced yesterday a maiden Inferred Resource estimate for the Horn Nickel Sulphide Deposit in Western Australia based on the results of recent successful diamond drilling.The rapid delineation of the Horn Inferred Resource since January 2008 represents a major accomplishment by Breakaway towards its objective of becoming a future nickel producer. While the deposit is of a low tenor/grade, it has a number of attributes which will impact positively in determining the commerciality of the deposit. The substantial tonnage of contained nickel metal; continuous mineralisation in a flat-plunging body having broad true widths of up to 15 metres and a substantial strike length of 350 metres, at a shallow notional depth of 150 metres; The additional potential to expand the resource from continued step-out drilling of immediate extensions to the deposit, and drilling other nearby surface TEM anomalies such as those to the north and south of the deposit (see ASX Announcement, 8 April 2008); and the deposit’s attractive location within a world-class mining province, in close proximity to established infrastructure and existing mining operations including the nearby Waterloo, Perseverance and Sinclair Projects. Commenting on the announcement, Breakaway’s Managing Director, Mr Peter Buck, said: “This represents an outstanding success by our exploration team to delineate a resource of this size and quality within just two to three months. Also, it confirms our view that the Wildara Project offers excellent nickel potential to enable us to transform into a producer in the shorter term”. “The initial resource estimate for the Horn adds enormous momentum to our exploration programme and represents a significant positive result for the Company and our shareholders,” Mr Buck continued.

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