The break statement will skip to the line after the for, while, or repeat loop it's in.
while true do
if turtle.detect() then
if turtle.getItemCount(16) == 64 then
break
end
turtle.dig() -- digs block in front of it
end
end
-- break skips to here
A quirk of lua: break has to come just before an end, though not necessarily the end of the loop you want to break out of, as you can see here.
Also, if you want to exit the loop on a condition at the start or end of the loop, as above, often you can change up the loop you're using to get a similar effect. For instance, in this example we could put the condition in the while loop:
while turtle.getItemCount(16) < 64 do
if turtle.detect() then
turtle.dig()
end
end
Note that I subtly changed the behaviour a bit there, as this new loop will stop right away when it hits the item count limit, without continuing until detect() becomes true again.