Cloudbreak Discovery PLC Cloudbreak stakes Foggy Mountain Project (6139J)
28 Abril 2022 - 1:01AM
UK Regulatory
TIDMCDL
RNS Number : 6139J
Cloudbreak Discovery PLC
28 April 2022
28 April 2022
Follow the link to read the press release in full, including
figures:
http://www.rns-pdf.londonstockexchange.com/rns/6139J_1-2022-4-27.pdf
Cloudbreak Discovery Plc
("Cloudbreak" or the "Company")
Cloudbreak stakes Foggy Mountain Project
Cloudbreak Discovery Plc (LSE: CDL), a natural resource project
generator, is pleased to announce that it has generated and staked
a new project in central British Columbia, Canada, and called the
Foggy Mountain Project (the "Project" or the "Property").
The Project is located immediately east of Kemess Mine, near
Thutade Lake, approximately 250 km north of Smithers and 430 km
northwest of Prince George, British Columbia. The Property lies
along a mineralized corridor containing several past producing
mines, including Shasta, Baker, Lawyers and Kemess.
Foggy Mountain Project Highlights
-- 4209.96 ha roughly NW-SE trending over three claim blocks
-- The NW-SE trend contains past producers
-- Historic surface grab samples with anomalous mineralization:
o 0.3 g/t gold, 12.9 g/t silver and overlimit copper
(>1%)
o 0.14 g/t gold, 38.4 g/t silver and overlimit copper
(>1%)
o 3.74 g/t gold, 5.1 g/t silver, and 0.94% copper
Geologically, the Property is comprised of Early cretaceous to
early Jurassic granodiorite and monzodiorite intrusions, Stuhini
group sediments and volcanic rocks, and Asitka group Permian to
Devonian limestone. These units are cut by a series of
northwest-trending steeply dipping normal strike-slip faults.
Sampling in the past has identified multiple showings where
mineralization is associated with quartz and pyrite-chalcopyrite
veins on the Property. These veins show encouraging mineralization
due to the observed style of mineralization at Kemess's main
mineralization events. Multiple mineralizing events are manifest in
veins ranging in composition from quartz-pyrite (+/-magnetite,
chalcopyrite, molybdenite and gold) and pyrite-chalcopyrite
(+/-gold). The overall style of mineralization reported in the
historic work on the property is similar to that observed at Kemess
South, which produced 2.978 million ounces of gold and 794 million
pounds of copper during its thirteen-year production life.
Figure 1. Foggy Mountain Project Map
The Property is located at the southern end of the Toodoggone
Mining Camp, in central British Columbia. The Toodoggone camp is
denoted by a series of northwest-southeast trending structures
cutting mesozoic volcanic and intrusive rocks, with a paleozoic
sedimentary basement units underlying.
Kyler Hardy, CEO of Cloudbreak Discovery, commented, "The team
and I are continually excited about our ability to generate a
further interesting target in British Columbia, an area that is a
prolific contributor of copper and gold. Foggy Mountain is yet
another exploration target to add to Cloudbreak's extensive and
growing portfolio of projects. The Property is in a favourable
location, lying along a mineralized corridor containing several
past-producers. The mineralization described by previous explorers
is comparable to that of Kemess, and we are keen to follow up and
build on the information gathered to date."
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
Qualified Person
Mr. Rory Kutluoglu P. Geo., Chief Operation Officer of the
Company, is the Qualified Person ("QP") under NI 43-101 for the
technical information in this news release, has verified the data
disclosed and approves the technical contents contained in this
news release.
-ENDS-
For additional information please contact:
Cloudbreak Discovery Tel: +1 604 428 9480
PLC
Kyler Hardy, CEO khardy@cloudbreakdiscovery.com
Novum Securities Tel: +44 7399 9400
(Financial Adviser)
David Coffman / Lucy
Bowden
Shard Capital Partners Tel: +44 207 186
(Broker) 9900
Damon Heath / Isabella
Pierre
BlytheRay Tel: +44 207 138 Cloudbreak@BlytheRay.com
(Financial PR/IR-London) 3204
Tim Blythe
Megan Ray
Stellium Services Tel: +44(0)207 129 Cloudbreak@StelliumServices.com
(Investor Relations) 1205
www.StelliumServices.com Andrew Wilson
Claire Bowden
About Cloudbreak Discovery PLC
Cloudbreak Discovery PLC, is a leading natural resource project
generator, working across a wide array of mineral assets that are
being developed and managed by an experienced team with a proven
track record. Value accretion within the projects being developed
by Cloudbreak's generative model enables a multi-asset approach to
investing. Diversification within the mining and energy sectors and
amongst resource classes is key to withstanding the cycles of
natural resource investing.
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