26 Nov

Manna Opens Up

ASX ANNOUNCEMENT 26 November 2021 1 | P a g e Manna Shaping as Significant Lithium Discovery Breaker Resources NL (ASX: BRB, the Company ) advises that it has now received assays from the latest round of 1,875m of RC drilling at its Manna Lithium Prospect, situated within the Lake Roe Project area. The results indicate a significant emerging discovery with key highlights from the latest program summarised below. Highlights ? High-grade spodumene-rich pegmatite intercepts from the 750m x 130m main area of outcrop at Manna (Manna 1) confirm good continuity of mineralisation. Results include: ? 17m @ 1.54% Li 2 O from 38m in BMRC0022 ? 9m @ 1.94% Li 2 O from 219m in BMRC0021 ? 6m @ 1.81% Li 2 O from 43m in BMRC0020 ? Step-out drilling below anomalous soils with coincident Li-Rb-Sn-Be soil geochemistry 350m to the south of Manna (Manna 2) discovers a new zone of spodumene-rich pegmatite with best intercepts of: ? 11m @ 1.16% Li 2 O from 43m in BMRC0023, including 5m @ 1.85% Li 2 O from 48m ? 5m @ 1.58% Li 2 O from 116m in BMRC0024, including 3m @ 2.15% Li 2 O from 116m ? The Manna 2 results upgrade the prospectivity of several other Li-Rb-Sn-Be auger soil anomalies of similar magnitude that surround the Manna 1 and 2 mineralisation over an 8km x 5km area, considerably expanding the lithium potential ? All areas of known spodumene mineralisation are open along strike and at depth Breaker Managing Director, Tom Sanders, said: “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. “The spodumene discovery at Manna 2 shows the auger soil geochemistry is working, opening up the potential of other areas with a similar Li-Rb-Sn soil signature, some of which trend into areas of mapped lithium-bearing outcrop. “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. “This is great news and cream on the top for our shareholders who have stuck with us during the grind of completing over 310,000m of drilling to define our gold discoveries.” ASX ANNOUNCEMENT 26 November 2021 2 | P a g e Latest Drilling Programme This recent round of Reverse Circulation ( RC ) drilling at the Manna Lithium Prospect consists of 12 RC holes for 1,875m. The aim of the drilling was: (i) to confirm the continuity of outcropping spodumene-rich pegmatite at Manna 1 (seven holes; BMRC0016 to BMRC0022; Figures 1 and 2); and (ii) 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). Importantly the key objectives of this latest drill program were met with every hole successfully intersecting spodumene-bearing pegmatite. All areas of spodumene mineralisation are open along strike and at depth, and the discovery remains sparsely tested. Further details of the drilling are provided in Appendix 1 and Annexure 1. Significant drill results are summarised in Appendix 1. Figure 1: Detailed plan view of drilling at Manna lithium prospect. Discussion of Results The Manna 2 discovery indicates that the 2019 auger soil geochemistry is working (ASX Release 30 April 2019) and that unsurprisingly, not all of the lithium mineralisation occurs in areas of outcrop. This elevates the prospectivity of several other Li-Rb-Sn-Be auger soil anomalies of similar magnitude which occur over a 8km x 5km area surrounding the Manna discoveries (Figure 3). ASX ANNOUNCEMENT 26 November 2021 3 | P a g e The lithium-bearing pegmatite at Manna appear to be part of a cluster of deep-seated crustal faulting into which fractionated pegmatites have intruded. The mapped distribution of spodumene and lepidolite at Manna 1 indicates an increasing fractionation trend towards the northeast. Figure 2: Drill section along BMRC0016-BMRC0017- BMRC0023- BMRC0024 Figure 3: Manna – Anomalous coincident pathfinders (Li-Rb-Be-Sn-Cs) in auger; in relation to mapped outcrops and drilling ASX ANNOUNCEMENT 26 November 2021 4 | P a g e The results at Manna 1 are similar in tenor and width to previous drilling (Figure 1), and the stacked nature of the pegmatites dykes over a 130m-wide wide zone with little weathering is in a favourable configuration for open pit mining (Figure 2). Preliminary metallurgical testwork indicates the potential to produce a high grade, low impurity spodumene concentrate using heavy liquid separation (ASX Release 31 October 2019). Authorised by the Board of Directors Tom Sanders Managing Director, Breaker Resources NL 26 November 2021 For further information on Breaker Resources NL please visit the Company’s website at www.breakerresources.com.au, or contact: Investors/Shareholders Media Tom Sanders Paul Armstrong/Nicholas Read Tel: +61 8 9226 3666 Read Corporate Email: breaker@breakerresources.com.au Tel: +61 8 9388 1474 COMPETENT PERSONS STATEMENT The information in this report that relates to Exploration Results is based on and fairly represents information and supporting documentation compiled by Tom Sanders, a Competent Person and Member of the Australasian Institute of Mining and Metallurgy. Mr Sanders is an executive of Breaker Resources NL and is engaged by Breaker on an 80% of full time basis; he is also a shareholder in the Company and eligible to participate in short and long-term incentive programs. Mr Sanders has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Sanders consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. ASX ANNOUNCEMENT 26 November 2021 5 | P a g e APPENDIX 1: Significant Drilling Results Hole_lD Prospect North East RL Dip Azimuth Depth From To Length Li 2 0 % Sample Type BMRC0016 Manna 6584381 455441 422 - 59 317 180 5 8 3 0.69 RC Chips 13 14 1 0.93 RC Chips 40 41 1 1.08 RC Chips 43 45 2 1.15 RC Chips 61 67 6 1.22 RC Chips 65 66 1 2.01 RC Chips 74 77 3 0.81 RC Chips 103 105 2 0.85 RC Chips 114 117 3 1.13 RC Chips 134 139 5 0.59 RC Chips 142 147 5 0.85 RC Chips BMRC0017 Manna 6584344 455468 421 - 60 316 222 9 10 1 0.50 RC Chips 19 21 2 0.98 RC Chips 52 55 3 0.42 RC Chips 68 70 2 1.11 RC Chips 96 97 1 0.86 RC Chips 102 103 1 1.10 RC Chips 118 125 7 1.05 RC Chips 143 144 1 0.49 RC Chips 155 157 2 0.91 RC Chips 163 166 3 1.39 RC Chips 164 165 1 2.19 RC Chips 180 189 9 1.18 RC Chips BMRC0018 Manna 6584491 455594 426 - 60 310 180 3 4 1 0.91 RC Chips 9 11 2 0.95 RC Chips 48 51 3 1.24 RC Chips 59 62 3 1.10 RC Chips 64 66 2 1.42 RC Chips 77 79 2 1.00 RC Chips 109 112 3 0.58 RC Chips 125 126 1 0.42 RC Chips 133 135 2 1.65 RC Chips 133 134 1 2.32 RC Chips 147 149 2 0.68 RC Chips 154 155 1 0.97 RC Chips 164 165 1 0.85 RC Chips 168 171 3 1.04 RC Chips BMRC0019 Manna 6584455 455628 424 - 58 315 213 30 31 1 0.60 RC Chips 38 40 2 1.08 RC Chips 66 68 2 0.88 RC Chips 95 98 3 0.63 RC Chips 120 124 4 0.97 RC Chips 168 169 1 1.72 RC Chips 186 189 3 2.06 RC Chips 187 188 1 2.56 RC Chips BMRC0020 Manna 6584559 455693 420 - 61 317 192 21 27 6 1.64 RC Chips 25 26 1 2.71 RC Chips 33 35 2 1.61 RC Chips 33 34 1 2.14 RC Chips 43 49 6 1.81 RC Chips 44 48 4 2.07 RC Chips 55 61 6 1.45 RC Chips 110 115 5 1.61 RC Chips 111 112 1 2.30 RC Chips 113 114 1 2.57 RC Chips 179 185 6 1.48 RC Chips 182 184 2 2.25 RC Chips Including Including Including Including Including Including Including Including and Including ASX ANNOUNCEMENT 26 November 2021 6 | P a g e Appendix 1 Notes ? True width is estimated at approximately 85% of down-hole length ? Significant intercepts are reported at >0.4% Li2O, with maximum 3m internal dilution ? MGA coordinates; Zone 51 Hole_lD Prospect North East RL Dip Azimuth Depth From To Length Li20 % Sample Type BMRC0021 Manna 6584578 455795 416 - 60 323 240 71 73 2 1.07 RC Chips 76 78 2 0.89 RC Chips 83 89 6 1.44 RC Chips 84 85 1 2.52 RC Chips 87 88 1 2.04 RC Chips 100 104 4 1.36 RC Chips 102 103 1 2.12 RC Chips 112 114 2 0.83 RC Chips 121 123 2 0.86 RC Chips 130 135 5 0.89 RC Chips 219 228 9 1.94 RC Chips 222 225 3 2.22 RC Chips 227 228 1 2.65 RC Chips 231 232 1 0.64 RC Chips BMRC0022 Manna 6584675 455844 416 - 60 324 210 19 21 2 0.50 RC Chips 38 55 17 1.54 RC Chips 77 78 1 1.08 RC Chips 80 87 7 0.64 RC Chips 114 116 2 0.91 RC Chips 145 147 2 0.55 RC Chips 151 152 1 0.40 RC Chips 170 171 1 0.47 RC Chips 183 186 3 1.92 RC Chips BMRC0023 Manna 6584121 455660 423 - 60 318 90 35 40 5 0.80 RC Chips 43 54 11 1.16 RC Chips 48 53 5 1.85 RC Chips BMRC0024 Manna 6584082 455691 425 - 59 315 132 103 105 2 0.78 RC Chips 110 111 1 1.10 RC Chips 116 121 5 1.58 RC Chips 116 119 3 2.15 RC Chips BMRC0025 Manna 6584011 455488 426 - 60 323 90 49 50 1 0.59 RC Chips 52 54 2 0.44 RC Chips 55 56 1 0.40 RC Chips 58 59 1 0.48 RC Chips BMRC0026 Manna 6583977 455534 427 - 60 326 102 86 87 1 0.41 RC Chips 89 93 4 0.53 RC Chips BMRC0027 Manna 6583409 454680 431 - 60 319 24 13 14 1 0.50 RC Chips Including Including Including Including and and Including ASX ANNOUNCEMENT 26 November 2021 7 | P a g e ANNEXURE 1: JORC Code (2012 Edition) Table 1 SECTION 1: SAMPLING TECHNIQUES AND DATA Criteria JORC Code explanation Commentary Sampling techniques Nature and quality of sampling (eg. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling. RC drill holes were drilled to variable depths under supervision of a geologist. RC samples were cone split in 1m intervals to produce a ~3kg sample. Any damp or wet samples were kept in the green plastic bag, placed in the rows of samples and a representative spear or scoop sample taken. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. RC sampling was undertaken using Breaker Resources’ ( BRB ) sampling protocols and QAQC procedures in line with industry best practice, including standard and duplicate samples. Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (eg. ‘reverse circulation drilling was used to obtain 1m samples from which 3kg was pulverised to produce a 30g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg. submarine nodules) may warrant disclosure of detailed information. All RC samples were analysed by MinAnalytical Laboratories or Bureau Veritas using a sodium peroxide fusion digest and ICP-MS finish after initial crushing and pulverisation. Drilling techniques Drill type (eg. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (eg. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.). RC drilling was undertaken using a face- sampling percussion hammer with 5½” bit. Drill sample recovery Method of recording and assessing core and chip sample recoveries and results assessed. RC drilling recoveries were visually estimated as a semi-qualitative range and recorded on the drill log along with moisture content. Measures taken to maximise sample recovery and ensure representative nature of the samples. RC holes were collared with a well- fitting stuff box to ensure material to the outside return was minimised. Drilling was undertaken using auxiliary compressors and boosters to keep the hole dry and lift the sample to the sampling equipment. Drill cyclone and cone splitter were cleaned regularly between rod-changes if required and after each hole to minimise down hole or cross-hole contamination. ASX ANNOUNCEMENT 26 November 2021 8 | P a g e Criteria JORC Code explanation Commentary Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. There is no observable relationship between recovery and grade, or preferential bias in the RC drilling at this stage. Logging Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Drill holes were logged for lithology, alteration, mineralisation, structure, weathering, wetness and obvious contamination by a geologist. Data is then captured in a database.. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography. RC logging is both qualitative and quantitative in nature and captures downhole depth, colour, lithology, texture, mineralogy, mineralisation, alteration and other features of the samples. The total length and percentage of the relevant intersections logged. All drill holes were logged in full and all sample sites were described. Sub- sampling techniques and sample preparation If core, whether cut or sawn and whether quarter, half or all core taken. Not core. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. RC samples were split 87.5%-12.5% by a stand-alone multi-tiered riffle splitter. The majority of the samples were recorded as dry and minimal wet samples were encountered. Sample duplicates were obtained by re-splitting the remaining bulk sample contained in a plastic bag in the field using the multi- tier riffle splitter. Whole samples were crushed and pulverised. For all sample types, the nature, quality and appropriateness of the sample preparation technique. The samples were sent to an accredited laboratory for sample preparation and analysis. All samples were sorted, dried pulverised to -75 µ m to produce a homogenous representative sub-sample for analysis. A grind quality target of 85% passing - 75 µ m has been established. Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. No sub-sampling undertaken. Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. Certified Reference Materials and sample duplicates for RC drilling are taken at least three times in every 100 samples. Whether sample sizes are appropriate to the grain size of the material being sampled. 2-3kg sample size is considered fit for purpose. Quality of assay data and laboratory The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. Industry standard procedures considered appropriate with a peroxide fusion (total dissolution) as standard four acid digest is not ASX ANNOUNCEMENT 26 November 2021 9 | P a g e Criteria JORC Code explanation Commentary tests considered strong enough to break down the highly resistive elements. For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Not relevant; no geophysical tool used. Nature of quality control procedures adopted (eg. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie. lack of bias) and precision have been established. MinAnalytical used Certified Reference Materials and/or in house controls, blanks, splits and replicates which are analysed with each batch of samples. These quality control results are reported along with the sample values in the final report. Selected samples are also re-analysed to confirm anomalous results. Verification of sampling and assaying The verification of significant intersections by either independent or alternative company personnel. Results verified by alternative Company personnel. The use of twinned holes. Not relevant at this preliminary stage. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Primary geological and sampling data were recorded digitally and on hard copy respectively, and are subsequently transferred to a digital database where it is validated by experienced database personnel assisted by the geological staff. Assay results are merged with the primary data using established database protocols run in house by BRB. Discuss any adjustment to assay data. The Company has not adjusted any assay data, other than to convert Lithium (ppm) to Li 2 O (%) Location of data points Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Handheld GPS used to initially record RC locations (+/- 5 metre accuracy), followed by DGPS surveyor pickup. Specification of the grid system used. GDA94 (MGA) Zone 51 Southern Hemisphere. Quality and adequacy of topographic control. Fit for purpose. Data spacing and distribution Data spacing for reporting of Exploration Results. Yes. Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Yes Whether sample compositing has been applied. No. ASX ANNOUNCEMENT 26 November 2021 10 | P a g e Criteria JORC Code explanation Commentary Orientation of data in relation to geological structure Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. RC drilling across the entire width of pegmatite produces a relatively unbiased representative sample. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. An estimated true width adjustment of approximately 85% is reported for RC drilling lengths. Sample security The measures taken to ensure sample security. Samples submitted were systematically numbered and recorded, bagged in labelled polyweave sacks and dispatched in batches to the laboratory’s Kalgoorlie facility by BRB personnel. The laboratory confirms receipt of all samples on the submission form on arrival. All assay pulps are retained and stored in a Company facility for future reference if required. Audits or reviews The results of any audits or reviews of sampling techniques and data. No formal audits/reviews have been conducted on sampling technique or data to date. ASX ANNOUNCEMENT 26 November 2021 11 | P a g e SECTION 2: REPORTING OF EXPLORATION RESULTS Criteria JORC Code explanation Commentary Mineral tenement and land tenure status Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. The drilling and rock chip samples are located on tenement E28/2522, which is held 100% by BRB. There are no material interests or issues associated with the tenement. The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. The tenement is in good standing and no known impediments exist. Exploration done by other parties Acknowledgment and appraisal of exploration by other parties. No previous exploration or identification of lithium mineralisation is recorded in the area or historical exploration observed. Geology Deposit type, geological setting and style of mineralisation. Typical LCT pegmatite model occurring as swarms of dykes in a preferred corridor orientation. Drill hole Information A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: ? easting and northing of the drill hole collar; ? elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar; ? dip and azimuth of the hole; ? down hole length and interception depth; ? hole length. If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case. Refer to Appendix 1 for significant results from the RC drilling. Drill hole and rock chip locations are described in the body of the text, in Appendix 1 and on related Figures. Data aggregation methods In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg. cutting of high grades) and cut-off grades are usually Material and should be stated. No data aggregation methods have been employed; results are reported “as-is” from the laboratory. Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. Where relevant, all reported results have been arithmetic length weighted. The assumptions used for any reporting of metal equivalent values should be clearly stated. None undertaken. ASX ANNOUNCEMENT 26 November 2021 12 | P a g e Criteria JORC Code explanation Commentary Relationship between mineralisation widths and intercept lengths These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg. ‘down hole length, true width not known’). An estimated true width adjustment of approximately 85% is reported for RC drilling and rock chip sampling lengths. Diagrams Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. Refer to Figures and Tables in the body of the text. Balanced reporting Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. All results comprehensively reported. Other substantive exploration data Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. There is no other substantive exploration data. Further work The nature and scale of planned further work (eg. tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. Further work is planned as stated in this announcement.
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