Icebreaker is a high-grade sulphide discovery at White Dam, where historical drilling shows multi-gram gold grades and copper, and a magnetic anomaly suggests deeper mineralisation that is open in all directions.

Broken Hill Gold Ltd focuses on the White Dam Gold Project in South Australia’s Curnamona Province, targeting both near-surface oxide resources and deeper sulphide targets.

MD Matthew Boyes notes potential for deeper sulphide gold-copper mineralisation beneath the weathered oxide zone, with Vertigo dipping about 15 degrees and remaining open down-dip, mirroring Icebreaker observations.

metallurgical testing is underway on fresh material, including carbon-in-leach trials and column tests, with Vertigo East and North samples to be tested in October and additional fresh material testing planned.

A major geophysics program—48 line-kilometres of induced polarization and 670 line-kilometres of high-resolution ground magnetics—is underway and expected to yield results by mid-October to define high-priority depth targets.

September oxide drilling at Vertigo North Extended and Hannaford is anticipated to support an updated resource estimate in Q4, followed by open-pit optimization and mine planning, with nearby oxide targets such as Rolling, Hannaford East and Icebreaker guiding near-term restart potential.

A 2025–26 RC drilling program comprising 279 holes over 13.5 km underpins a resource upgrade, converting inferred material to indicated and improving geological interpretation.

The program includes planned step-out drilling, surface geophysics, and metallurgical testing to improve recoveries and understand processing routes for fresh material.

Market context includes trading volume around 1.3 million shares, a Hold sentiment, and a market cap near A$80 million.

A dedicated diamond core rig will join RC drilling to test Icebreaker, Vertigo, and Hannaford, with metallurgical testwork on sulphide and oxide material planned.

Economic studies will underpin an oxide restart case, with a prefeasibility study after updating shallow resources, while testing more than 50 White Dam prospects over the next 18 months supported by a recent A$13 million placement.

Overall strategy combines advancing shallow oxide ounces toward restart with aggressive deeper sulphide exploration to enhance long-term value.