- Summary of Projects
- Bungalbin Gold Project
- East Kimberley Project
- Eloise Regional Exploration Project
- Kalgoorlie Nickel Project
- Kambalda West Nickel Gold Project
- Miranda Nickel Project
- Mt Finnerty Project
- Scotia Nickel Project
- Wildara - Mt Clifford Belt
- Mount Clifford - Mount Newman
- Wildara
- Yillaree
Eloise Regional Exploration Project
The Eloise Regional Exploration Project is located approximately 70 kilometres south east of Cloncurry in North West Queensland and covers a contiguous group of exploration licenses surrounding the Eloise Copper Gold Mine covering an area of approximately 320 square kilometres.
The Eloise Copper Gold Mine and mining leases was sold in June 2004 to Barminco Investments Pty Ltd for $15.6 million with Breakaway retaining a 30% Net Profit Royalty which commenced once the mine’s net profit from operations exceeds the purchase price paid.
ELOISE Regional
Geology
The Eloise Copper Gold Mine is hosted in Proterozoic metasedimentary rocks of the Mt Isa Inlier concealed beneath 50-70 metres of Mesozoic mudstones and sediments. The Mt Isa Inlier hosts a number of world-class base metal deposits including Mt Isa, Cannington, Century, Ernest Henry and Osborne. The Eloise Deposit lies within a sequence of metasediments including arenites, siltstones and greywackes, which have been intruded by sill-like bodies of dolerite, now amphibolite, which are correlated with the Soldiers Cap Group. The copper-gold mineralisation is structurally controlled and is interpreted to be associated with a dislocation in the regional north-south trending Levuka Shear Zone Several late stage faults dislocate and disrupt the main mineralised bodies.
Eloise Regional Exploration
Breakaway currently holds tenure to approximately 320 square kilometres of exploration tenements along strike, to the west and south of the Eloise mine. The tenements cover approximately 12 strike kilometres of the prospective Levuka Shear Zone where previous work has defined a number of Eloise style copper-gold targets in favourable structural settings that require considerable follow up exploration. These targets include the Eloise Southwest, Fairstar and Eloise Northwest. The tenements also contain over 10 strike kilometres of the adjacent Maroanan Shear Zone that traverses a geological sequence that hosts several Broken Hill-type lead-silver-zinc occurrences including the Altia prospect, located 4 kilometres south west of the Eloise Mine.
In addition, previous exploration work at the Sandy Creek gold-copper prospect within the western part of the tenements has recorded encouraging drill intercepts including 5 metres @ 11.5g/t gold and 0.15% copper and 4.1metres @ 5.6g/t gold and 0.56g/t copper. Approximately 3 kilometres further north is the Roberts Creek Prospect where a small inferred gold-copper resource of 82,000t grading 2.42g/t gold and 1.06% copper has been defined. The Roberts Creek resource is open down dip and along strike.
Breakaway’s recent exploration at Eloise extended the detailed low-level aeromagnetic coverage westwards from the main Levuka Shear trend to cover the remainder of the tenements. Detailed gravity surveys are currently underway to complete the coverage over the eastern portion of the project area. With this new data, Breakaway and its consultants have define 15 new significant exploration targets for copper-gold and lead-silver-zinc outside of the known occurrences at Eloise and Altia. Ground exploration of these areas is expected to commence in 2006.
Detailed modelling of all exploration data at the Altia prospect has been completed where previous drilling has intersected potentially economic "Broken Hill type" lead-silver mineralisation with a best result of 39.6 metres grading 8.1% lead and 30g\t silver. Altia is a substantial 1.7 kilometre long iron-rich alteration system outlined by a combined aeromagnetic, gravity and EM anomaly which has only been sporadically drilled over a strike length of 350 metres. A new drilling program is scheduled to commence in the March quarter 2006 to extend the Altia mineralisation which remains open in all directions.