Breakwater Resources Ltd.
TSX : BWR

Breakwater Resources Ltd.

September 16, 2005 12:37 ET

Resource Estimate for Concordia Deposit at El Toqui Mine, Chile

TORONTO, ONTARIO--(Marketwire - Sept. 16, 2005) -

Attention Business Editors:

BREAKWATER RESOURCES LTD. ("Breakwater") (TSX:BWR) is pleased to provide an updated resource estimate for the Concordia deposit at the El Toqui mine in Chile (see Figure I) (To view map please see: http://files.newswire.ca/275/Bw_FigureI.pdf).

Based on the drilling carried out to date (up to DCA-76A), an indicated and inferred mineral resource of 1.87Mt grading 10.2% Zn, 5.14% Pb and 68 g/t Ag has been estimated (see Table I).



Table I - Concordia Mineral Resources

------------------------------------------------------------------------
Category Tonnes Zinc (%) Lead (%) Silver (g/t)
------------------------------------------------------------------------
Indicated 816,000 10.6% 4.7% 73
------------------------------------------------------------------------
Inferred 1,053,000 9.6% 5.6% 64
------------------------------------------------------------------------
------------------------------------------------------------------------
Total Resource 1,869,000 10.0% 5.2% 68
------------------------------------------------------------------------


The Concordia mineralization is very different than other areas at El Toqui given its high concentrations of both lead and silver. These metals have the potential to be valuable by-products should Concordia be developed.

This resource indicates the excellent potential of the Concordia deposit. The deposit remains open to the south and southeast and exploration drilling is expected to continue later in 2005 and into 2006.

Breakwater plans to resume the infill drilling program in order to upgrade the current resource to a reserve and to continue its metallurgical testing to determine the best way to process Concordia material in the existing mill. If the drilling and testing is successful, Breakwater is aiming to carry out a feasibility study and mining plan for Concordia by the end of the second quarter of 2006.

Breakwater is also pleased to announce the remaining results from the fourth phase of diamond drilling (holes DCA-54 to DCA-76A) on the Concordia deposit, located three kilometres northwest of the El Toqui mine which continues to confirm the presence of widespread high-grade zinc mineralization (see news releases April 16, 2004, July 29, 2004, February 15, 2005, May 16, 2005).

To date, 10,631 metres have been drilled in 74 holes in all phases. The latest drill results are set out in Table II below: (see Figure II) (To view map please see: http://files.newswire.ca/275/BwFigureII.pdf).



Table II - Concordia Diamond Drill Hole Intersections

-------------------------------------------------------------------------
Total Intersection Core True
Drill Length From To Length Thick. Zn Pb Cu Ag
-Hole Dip (m) (m) (m) (m) (m) (%) (%) (%)(g/t)
-------------------------------------------------------------------------
2004 - 2005 Drill Program - Phase IV
-------------------------------------------------------------------------
DCA-68 -90o 171.5 148.5 151.1 2.6 2.4 7.38 3.46 0.37 37
-------------------------------------------------------------------------
DCA-69 -80o 168.7 152.3 162.3 10.0 8.6 4.80 2.42 0.11 22
-------------------------------------------------------------------------
DCA-70 -90o 145.5 137.5 143.0 5.5 5.2 1.46 0.67 0.02 6
-------------------------------------------------------------------------
DCA-71 -82o 161.1 151.0 151.9 0.9 0.8 19.47 11.66 0.76 96
-------------------------------------------------------------------------
DCA-72 -75o 168.0 151.0 166.5 15.5 12.7 18.34 7.62 0.47 117
-------------------------------------------------------------------------
DCA-73 -90o 139.1 131.7 135.7 4.0 3.8 18.67 7.73 0.49 93
-------------------------------------------------------------------------
DCA-74 -80o 180.0 154.1 163.0 8.9 7.7 11.07 7.55 0.30 61
-------------------------------------------------------------------------
DCA-75 -71o 174.3 163.1 173.6 10.5 8.2 Barren Fossiliferous
Limestone
-------------------------------------------------------------------------
DCA-76A -60o 193.4 174.4 184.9 10.5 6.7 Barren Fossiliferous
Limestone
-------------------------------------------------------------------------


Resources at Concordia were estimated using a polygonal-block-based method combined with regularly spaced drill holes. Drill hole intercepts are plotted on plans and sections using Gemcom software. Circles of 25 metre radius for indicated resources and 50 metre radius for inferred resources are drawn around each drill hole intersection that exceeds the cutoff grade of 4.75% zinc equivalent. Polygons are constructed where the circles from adjacent holes overlap. Polygons are generally constrained by faults, intrusives, dikes, and the boundary between barren and mineralized Main Manto units.

The exploration programs at El Toqui are under the supervision of Torben Jensen, 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 and high silver 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 and precious metal deposits in the Americas and North Africa. Breakwater has three producing zinc mines: the Myra Falls mine in British Columbia, Canada; the El Mochito mine in Honduras; and the El Toqui mine in Chile and is currently reviewing options for the reopening of its Langlois mine in Canada.

This news release contains forward-looking statements within the meaning of the United States Private Securities Legislation Reform Act of 1995. They include estimates and statements that describe Breakwater's future plans, objectives and goals, including words to the effect that it or management expects a stated condition or result to occur. When used herein the words "estimates", "indicates", "potential", "plans", "resume", "continue", "aiming" 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 in the Company's most recent Annual Information Form or Form 40-F under "Risk Factors" on file with the Canadian provincial securities regulatory authorities and U.S. Securities and Exchange Commission respectively. The Company disclaims any obligation to update or revise any forward-looking statements whether as a result of new information, events or otherwise. Readers are cautioned not to put undue reliance on these forward looking statements.

Contact Information

  • Breakwater Resources Ltd. Torben Jensen Vice President, Engineering (416) 363-4798, Ext. 232 Email: tjensen@breakwater.ca
    or
    Breakwater Resources Ltd. Adam Schatzker Manager, Corporate Development (416) 363-4798, Ext. 266 Email: aschatzker@breakwater.ca