CHILE Just three kilometres northwest of its Toqui gold/zinc mine in southern Chile, Toronto-based BREAKWATER RESOURCES has found an area of widespread high-grade zone, known as the Concordia deposit. The second phase of drilling was recently completed, and while a few holes were barren, others were very promising: 7.20% Zn and 49 g/t Ag over 6.6 metres; 7.61% Zn and 111 g/t Ag over 2.7 metres; and 1.86% Zn and 56 g/t Ag over 2.7 metres, to mention three. The Concordia deposit remains open in both the northwest and southeast directions.
Breakwater is investigating both the nearby Estatuas and Aserradero deposits as well. Only one drill hole at Estatuas intercepted a short length of weekly mineralized material. At Aserradero, production began in the fourth quarter of 2003 via decline from the Dona Rosa mine. The newest producer will eventually contribute 25% of the feed to an expanded mill, boosting output from Toqui to 20,000 oz Au in 2004 from 2,500 oz in 2003. The total indicated mineral resource for the Aserradero deposit is estimated to be 680,000 tonnes grading 6.0% Zn and 9.1 g/t Au.
To learn more, contact secretary and investor relations officer E. Ann Wilkinson at 416-363-4798 ext. 277 or firstname.lastname@example.org.