Can anyone explain the delay as we are still in Pre News Release.
Attaced announcement below.
New EM Conductors identified at Miranda North
New EM conductors identified along strike from the high grade Cosmos nickel deposits
5 new highly ranked EM conductors identified within the interpreted southern extension of
Mt Goode Ultramafic Belt - host to Xstratas Cosmos Nickel Deposits (+0.5Mt Ni metal).
Bedrock nickel anomalism in historic drilling reinforces prospectivity of Miranda North area.
Geological evaluation and prioritisation continuing ahead of future drill testing.
Breakaway Resources Limited (ASX: BRW) is pleased to provide an update on the recently completed
Miranda North ground-based electromagnetic (EM) survey at its Miranda Project, in the Leinster District of
Western Australias Northeastern Goldfields (see Figure 1).
The EM survey covered 6-7 strike kilometres of the interpreted southern extension of the highly prospective
Mt Goode Ultramafic Belt, which hosts Xstratas world-class Cosmos nickel deposits (+0.5Mt Ni metal),
approximately 15 kilometres north along strike of the survey area.
The survey identified numerous new bedrock EM conductors, five of which (see Figure 2) have geophysical
characteristics potentially indicative of massive nickel sulphide mineralisation and lie either within or immediately
adjacent to favourable ultramafic rocks. Ground based EM surveying is one of the primary techniques used to
explore for nickel mineralisation as it can detect buried conductive material such as massive sulphide
mineralisation, but also barren graphitic shales and/or saline ground water.
The five highly ranked conductors together with an EM conductor previously obtained by Breakway to the north
are priorities for further geological evaluation and follow up.
The newly completed survey builds on the results of an earlier (2005) Breakaway survey at Miranda North which
covered an additional 7 kilometre strike length of the Mt Goode ultramafic, immediately north of the current
survey area (see Figure 2). In total, Breakaway has now completed modern detailed geophysical coverage over a
14 kilometre strike length of the favourable ultramafic.
The ultramafics at Miranda North have previously been covered with RAB and Aircore drilling on irregularly
spaced sections, typically 200 400 metres apart mainly targeting gold. Significantly, interpretation of the drilling
has underpinned Breakaways enhanced geological understanding of the area and bedrock nickel-copper
anomalism within the drill dataset (e.g 36m @ 2,700ppm Ni, 163ppm Cu from 40 metres including 18m @
3,100ppm Ni, 140ppm Cu from 58 metres,and 1m @ 1,920ppm Ni, 385ppm Cu from 64 metres) reinforces the
nickel sulphide prospectivity of the ultramafic rocks at Miranda North (see Table 1 and Figure 2).
Level 2, 23 Ventnor Avenue P/ (08) 9278 6444 Page 2 of 3 ASX Code: BRW Page 2 of 3
West Perth WA 6005 F/ (08) 9278 6449 Issued Shares: 239,273,318
W/ www.breakawayresources.com.au E/ [email protected] Market Capital: A$14.35 million
Breakaways Managing Director, David Hutton said the identification of new EM conductors at Miranda North is a
significant development for the Miranda Project and further justifies the Companys strategy of focussing its
ongoing nickel exploration activities within the world class Leinster nickel district.
The presence of new EM conductors within prospective ultramafics combined with Breakaways enhanced
geological understanding of Miranda North makes this a priority target for new nickel sulphide discoveries he
said.
Geological evaluation and prioritisation of the EM conductors is continuing ahead of future drill testing.
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