Lithium

Breaker hits high-grade lithium at Manna

Fri 26 Nov 21, 12:22pm (AEST)
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Key Points

  • Breaker makes 'significant' discovery of lithium
  • Preliminary metallurgical test-work is encouraging

Breaker Resources NL (ASX: BRB) is a gold explorer operating out of the Kalgoorlie region in Western Australia. It has under its belt a rapidly growing 1.4 million ounce gold resource at its flagship 100%-owned Lake Roe Gold Project.

Ironically, its non-core project is stealing the spotlight after hitting a 'significant' discovery for one of the hottest metals in 2021 - lithium.

The Manna Lithium Project is situated approximately 15km south of Lake Gold. Breaker today confirmed it received 'high-grade spodumene rich pegmatite intercepts' from its latest round of drilling activities within the area.

“It’s a bit ironic that we have discovered a cluster of pegmatite intrusions with outcropping spodumene and other significant lithium-related anomalies while trying not to distract ourselves from a major gold discovery at Bombora, our core focus," managing director Tom Sanders said.

Lithium drilling progress

The latest drilling program consisted of 12 Reverse Circulation (RC) holes, focused on confirming the continuity of spodumene-rich pegmatites at Manna.

Notably, every hole from the latest drill program successfully intersected spodumene-bearing pegmatites.

“There is clearly lots more work to do here and planning is underway for the next round of drilling. The results point to a much bigger LCT (Lithium-Cesium-Tantalum) pegmatite complex underpinned by excellent drill results and good quality multi-element geochemistry and mapping," said Sanders.

While in its early days, preliminary metallurgical testwork indicates the potential to produce a high grade, low impurity spodumene concentrate using heavy liquid separation.

Breaker has certainly presented a unique value proposition for its investors, harboring a growing 1.4 million ounce gold resource in addition to a large lithium system at Manna.

It continues to provide a dual stream of exploration results for both projects, which has prompted a 120% increase in share price over the last three months.

Breaker shares sold off sharply this morning, down 9.2% at 10:30 am. The sharp pullback comes off the back heavy selling volume with 3.97m shares traded compared to its 10-day average of 1.14 million.

Title holder holder holder

Results include:

  • 17m @ 1.54% Li₂O from 38m in BMRC0022

  • 9m @ 1.94% Li₂O from 219m in BMRC0021

  • 6m @ 1.81% Li₂O from 43m in BMRC0020

The aim of the drilling was:

  1. To confirm the continuity of outcropping spodumene-rich pegmatite at Manna 1 (seven holes; BMRC0016 to BMRC0022; Figures 1 and 2);

  2. Test anomalous Li-Rb-Sn-Be auger soil results situated on a parallel trend 350m south of Manna 1 (Manna 2, five holes; BMRC0023 to BMRC0027; Figure 1).

 

Written By

Kerry Sun

Finance Writer & Social Media

Kerry holds a Bachelor of Commerce from Monash University and was Vice President of the University Network for Investing and Trading (UNIT). He is an avid swing trader, and drawn to breakouts and technical set ups. Outside of writing and trading, Kerry is a huge UFC fan, loves poker and bouldering.

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