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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END

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April 28, 2022 02:01 ET (06:01 GMT)

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