TIDMCDL
RNS Number : 3857P
Cloudbreak Discovery PLC
20 June 2022
Follow the link to read the press release in full, including
figures:
http://www.rns-pdf.londonstockexchange.com/rns/3857P_1-2022-6-19.pdf
20 June 2022
Cloudbreak Discovery Plc
("Cloudbreak" or the "Company")
Cloudbreak Commences Airborne Magnetic Survey on Northwestern
Portfolio
Cloudbreak Discovery PLC (LSE: CDL), a leading natural resources
project generator with a particular focus on resources key to the
energy transition, is pleased to announce that it has engaged
Precision GeoSurveys to conduct a high-resolution helicopter-borne
magnetic survey over the Northwestern Portfolio, comprised of
Northern Treasure, Rizz, Icefall and Atlin West (the "Projects"),
all located in northwestern British Columbia ("BC"), Canada.
The survey initiates Cloudbreak's next phase of exploration
programme across the Projects, which contain an extensive number of
mineralized showings. A primary goal of the survey is to identify
prominent, potentially mineralised structures. The survey will also
help delineate lithologic contacts to determine the next phase of
ground-based exploration.
Under the terms of various option agreements in place, Power
Group Projects Corp (TSX-V: PGP) will be financing the survey on
the Rizz, Icefall and Atlin West projects. Exploration costs for
Northern Treasure will be financed by the Company as it remains
open for option.
Kyler Hardy, President and CEO of Cloudbreak , commented, "We
are delighted to commence this phase programme on the Northwestern
Portfolio, which covers a number of promising polymetallic mineral
occurrences. Cloudbreak was attracted to the region due to the
absence of historic exploration work over the ground. Precision
GeoSurveys will be applying this exploration technique to identify
potential targets which can be advanced by our partners. Northern
Treasure, our remaining project we staked in 2021, will benefit
from the survey to guide the next phase and generate further
interest from potential partners."
Figure 1. Map of Northwestern Portfolio to be surveyed located
in northwestern British Columbia, Canada
About the Northern Treasure Project
The Northern Treasure Project is located approximately 100
kilometres south of Atlin and immediately adjacent to Brixton's
Thorn Project. The Project comprises two claim groups totalling
29,580 hectares.
The property geology is favourable to host porphyry, volcanic
massive sulphide (VMS), high-sulphidation and stockwork vein and
sediment-hosted deposit types. These deposit types have potential
to contain copper, gold, silver and zinc. The claims are underlain
by Stuhini Group volcanic and sedimentary rocks with Sloko-Hyder
plutonic suite.
About the Atlin West Project
The Atlin West Project is underlain by undivided sedimentary and
volcanic rocks of the Cache Creek Complex, which have been
subsequently intruded by late Cretaceous felsic volcanic and
intrusive rocks. The area is bounded by the Nahlin fault and
cross-cut by east-west and northwest trending faults.
These structures are known to be associated with base and
precious metals as demonstrated elsewhere in the region.
Mineralisation on the property includes the Dundee/Table Mountain
showing, which is comprised of northeast trending veins with galena
and chalcopyrite, assaying 2.58 ounces per tonnes of silver, 26%
lead and 13.9% copper in 1967. Limited work has been reported on
the property and additional exposures are as yet untested as
glacial recession has progressed in the past several decades since
this work was last conducted.
About the Icefall Project
The Icefall Project is underlain by Stuhini and Labarge Group
volcanic and sedimentary rocks, overlain by Sloko Group volcanic
rocks. The granitic intrusions have been mapped on the northern and
southern bounds of the claim block, which covers 8,704 hectares.
The property is bounded between the Llewellyn fault to the west and
King Salmon fault to the east with several north-trending
structures noted on the property.
Historic work has highlighted several showings near the southern
claim boundary contain historic sample results of 35.5 grammes per
tonne of silver and 0.5% copper.
About the Rizz Project
The Rizz Project covers 5,415 hectares of mineral titles in
northwestern BC, situated in the Boundary Ranges Metamorphic Suite
and Sloko Group plutonic and volcanic rocks, west of the Llewellyn
fault.
To date, mineralisation has been observed in the Sloko-Hyder
plutonic suite with several gossanous zones identified for
immediate follow up. The known mineralisation on the property is
described as sulphide-rich felsite boulders and talus in one of the
cirques.
Previous assay results from samples indicate mineralisation
including 27.6 grammes per tonne of gold, 562.9 grammes per tonne
of silver, 8.25% lead and 15.9% zinc. Cloudbreak's follow-up work
at the Rizz Project will also include exploring for the source of
this strongly mineralised float material.
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 9900
(Broker)
Damon Heath / Isabella
Pierre
BlytheRay Tel: +44 207 138 3204 Cloudbreak@blytheray.com
(Financial PR/IR-London)
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 resources project
generator building value by evaluating and acquiring quality
projects with a particular focus on resources key to the energy
transition. Our projects are developed and managed by an
experienced team with a proven track record of delivering on
mineral and energy investments. Cloudbreak's generative model
enables a multi-asset approach to investing and exploration with
diversification across commodities and jurisdictions as the key to
withstanding the cycles of natural resources investing.
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