Through a wholly owned subsidiary, Breakwater Resources (BWR-T) plans to explore the Monserrat exploration permit in the historical mining area of Yuscaran, in southern Honduras.
The company is no stranger to Honduras, having operated the Mochito zinc-lead-silver mine, the largest producer in the Central American country, for several years.
Breakwater’s new exploration permit covers an extensive area of epithermal, precious metal mineralization and alteration. Historic gold and silver mining dates to the times of Spanish colonists.
A United Nations-led team tested in the late 1980s the Guayabillas vein system with a program of mapping, trenching, underground development, drilling and metallurgy. That work outlined a drill indicated resource of 1.06 million tonnes grading 10.9 grams gold-equivalent. The property, according to Breakwater, has considerable potential for reserve expansion.
The current exploration program will focus initially on a 7-sq.-km area believed to have potential for both large, low-grade, bulk tonnage precious metals deposits and high-grade vein systems similar to Guayabillas.
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