Another heads up: I would recommend once agian looking at the BWR wts NOW: BWR has 5 mines operating and with the new money realized from higher prices they are drilling evrywhere. they just found a whole lot more ore. The stock is moving real good today on the news and high zinc prices.
3rd and 4th qtr financials are going to be temendous!
The wts are only .24 and the stock is .67. HERE IS THE POINT: From about here on out the wts will move up with the stock penny for penny. Big wheel truning a little wheel. At least take a look. This is, imo, the best play I have seen in many years for making money and looking quite safe.
SUBJECT: Good day -news release Posted By: charles99
Post Time: 2/15/05 15:51
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Exploration update at Breakwater's El Toqui mine in southern Chile
14:49 EST Tuesday, February 15, 2005
TORONTO, Feb. 15 /CNW/ - BREAKWATER RESOURCES LTD. ("Breakwater") (TSX-BWR) is pleased to provide an update on exploration activities at the El Toqui property located in southern Chile (See Figure I) files.newswire.ca.
Concordia Deposit
-----------------
The third phase of diamond drilling on the Concordia deposit, located three kilometres northwest of the Toqui mine, continues to confirm the presence of widespread high grade zinc mineralization (see news releases April 16, 2004 and July 29, 2004). The aim of the latest program is to aid in further defining this deposit.
To date, 4,850 metres have been drilled in 39 holes. Table I below lists the results from the latest holes (See Figure II) files.newswire.ca.
Table I - Concordia Diamond Drill Hole Intersections
-------------------------------------------------------------------------
Drill-Hole Dip Total From To Core True Zn Pb Cu Ag
Length (m) (m) Length Thick. (%) (%) (%) (g/t)
(m) (m) (m)
-------------------------------------------------------------------------
DCA-34 -90 141.9 Barren Fossiliferous Limestone
degrees
-------------------------------------------------------------------------
DCA-35 -90 120.3 47.9 49.3 1.4 1.3 11.15 7.95 0.18 46
degrees
-------------------------------------------------------------------------
DCA-36 -90 102.4 79.7 81.3 1.6 1.5 11.81 8.28 0.30 81
degrees
-------------------------------------------------------------------------
83.7 87.5 3.8 3.5 5.72 2.66 0.16 29
-------------------------------------------------------------------------
DCA-37 -90 103.5 Barren Fossiliferous Limestone
degrees
-------------------------------------------------------------------------
DCA-38 -90 120.0 86.1 95.0 8.9 8.4 10.19 5.20 0.18 40
degrees
-------------------------------------------------------------------------
DCA-39 -90 185.3 133.4 143.4 10.0 9.3 3.29 4.14 0.07 28
degrees
-------------------------------------------------------------------------
DCA-40 -90 158.9 125.5 132.6 7.1 6.7 8.25 3.44 0.20 45
degrees
-------------------------------------------------------------------------
138.1 144.5 6.5 6.0 14.53 2.83 0.34 81
-------------------------------------------------------------------------
DCA-41 -90 195.2 156.4 171.6 15.2 14.2 13.40 5.32 0.20 93
degrees
-------------------------------------------------------------------------
The area remains open in a northwest-southeast direction and
mineralization encountered to date suggests the potential for multiple
mineralized zones. Results from holes DCA-39, DCA-40 and DCA-41 indicate that
the zone remains open in this direction with the potential to add additional
resources with significant zinc and lead grades. Additional diamond drilling
is planned in this new area.
Aserradero Deposit
------------------
At the Aserradero deposit, a 4,000 metre drill program commenced during
the third quarter of 2004. To date, six holes totaling 2,458 metres have been
drilled. These holes were located to determine the western, eastern and
southern limits of the Aserradero deposit as well as to investigate a possible
connection between the Aserradero area and the Porvenir area 600 metres to the
south. At Porvenir, hole PDT-03, drilled in the mid 1990's by Barrick Gold
Corporation intersected oregrade zinc and gold values over a true thickness of
6.5 metres (See Figure III)
files.newswire.ca.
All of the holes drilled during the current program intersected
mineralization. Results from holes DAS-73 and DAS-74 have confirmed the
eastern and southeastern extensions of the Aserradero mineralized system and
that there is continuity between the Asserradero area and the Porvenir area.
Hole DAS-75 encountered the most significant zinc mineralization with a true
thickness of 3.6 metres grading 11.15 percent zinc and 4.45 grams per tonne
gold. Hole DAS-77 encountered the most significant gold mineralization with a
true thickness of 4.5 metres grading 7.65 percent zinc and 8.57 grams per
tonne gold. Holes DAS-75 and DAS-77 indicates that the Aserradero deposit
remains open to the east and southeast.
Table II - Aserradero Diamond Drill Hole Intersections
-------------------------------------------------------------------------
Drill-Hole Dip Azimuth Total From To Core True Zn Cu Ag
Length (m) (m) Length Thick. (%) (%) (g/t)
(m) (m) (m)
-------------------------------------------------------------------------
DAS-72 -90 - 320.3 297.2 299.6 2.5 2.4 0.14 0.94 -
degrees
-------------------------------------------------------------------------
DAS-73 -67 90 342.2 329.2 330.4 1.2 0.9 12.25 - -
degrees degrees
-------------------------------------------------------------------------
DAS-74 -62 57 497.4 417.1 420.2 3.1 2.3 - - 1.23
degrees degrees
-------------------------------------------------------------------------
DAS-75 -73 150 426.2 338.5 342.7 4.2 3.6 11.15 - 4.45
degrees degrees
-------------------------------------------------------------------------
DAS-76 -64 151 442.7 370.9 372.2 1.3 1.0 11.80 - 0.14
degrees degrees
-------------------------------------------------------------------------
DAS-77 -71 95 429.4 336.5 341.9 5.4 4.5 7.65 - 8.57
degrees degrees
-------------------------------------------------------------------------
The Aserradero deposit was accessed by a decline from the existing Dona
Rosa mine during the fourth quarter of 2003 and production commenced at that
time. The Aserradero deposit contributed 16 percent of the mill feed for 2004
resulting in an increase in gold output at El Toqui to 27,900 ounces in 2004
from 2,500 ounces in 2003.
A further five diamond drill holes totaling 1,542 metres are planned for
the Aserradero deposit during the first quarter of 2005. These holes will
target the area to the east and southeast of DAS-77 in order to further
delineate the deposit.
Estatuas Deposit
----------------
As part of the overall expansion plan for the El Toqui mine, the Company
is developing the Estatuas deposit, located three kilometres west of the Dona
Rosa orebody. This deposit was first drilled by Breakwater in 1999 and hosts
an indicated mineral resource of 1.0 million tonnes grading 8.5 percent zinc.
In addition, the deposit hosts an inferred mineral resource of 1.2 million
tonnes grading 7.7 percent zinc.
The exploration programs are under the supervision of John McCombe,
P.Eng. who is a qualified person as defined by National Instrument 43-101. All
core samples are split in half at the drill site, with one-half of the core
sample sent to Acme Analytical Laboratories Chile S.A. in Santiago for sample
preparation and analysis by atomic absorption and fire assay for the gold
values. The other half of the core sample is retained on site. The pulp
samples are sent to Acme Analytical Ltd. in Vancouver, British Columbia for
further analysis by ICP methods.
Breakwater is a mineral resource company engaged in the acquisition,
exploration, development and mining of base metal and precious metal deposits
in the Americas and North Africa. Breakwater has four producing zinc mines:
the Myra Falls mine in British Columbia, Canada; the Bougrine mine in Tunisia;
the El Mochito mine in Honduras; and the El Toqui mine in Chile. The Company
also owns the Langlois mine in Canada, which is currently on care and
maintenance.
This news release contains forward-looking statements within the meaning
of the United States Private Securities Legislation Reform Act of 1995. When
used in this news release the words "anticipate", "believe", "intend ",
"estimate", "plans", "projects", "expect", "will", " budget", "could", "may",
and similar expressions are intended to identify forward-looking statements.
Such forward-looking statements involve known and unknown risks, uncertainties
and other factors which may cause actual results, performance or achievements
of the Company to be materially different from any future results, performance
or achievements expressed or implied by such forward-looking statements.
Important factors that could cause actual results to differ materially from
those currently anticipated are described above and in the Company's most
recent Annual Report on Form 20-F under "Risk Factors" on file with the U.S.
Securities and Exchange Commission and Canadian provincial securities
regulatory authorities. The Company disclaims any obligation to update or
revise any forward-looking statements whether as a result of new information,
events or otherwise.
/For further information: please contact: Torben Jensen, Vice President, Engineering, (416) 363-4798 Ext. 232, tjensen(at)breakwater.ca; Adam Schatzker, Manager, Corporate Development, (416) 363-4798 Ext. 266, aschatzker(at)breakwater.ca/
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