TIDMCDL
RNS Number : 9776M
Cloudbreak Discovery PLC
27 September 2021
27 September 2021
Cloudbreak Discovery Plc
("Cloudbreak" or the "Company")
Cloudbreak initiates exploration on Northwest Portfolio
Update on the Klondike Project
For Full Release Including Figures Use the Following Link:
http://www.rns-pdf.londonstockexchange.com/rns/9776M_1-2021-9-25.pdf
Cloudbreak Discovery Plc (LSE: CDL), a natural r esource project
generator, is pleased to announce that an exploration programme on
the five recently staked Northwestern British Columbian
polymetallic projects (the "Properties" or the "Northwest
Portfolio") has commenced. This will represent the first field work
Cloudbreak will conduct on these projects.
The Properties are located in Northwestern British Columbia and
are prospective for base and precious metals which could occur in
several deposit types.
Northwest Portfolio Summary
Project Name Target mineralisation
------------------ ----------------------
Atlin West Silver, Copper, Lead
Icefall Silver, Copper
Northern Treasure Gold, Copper, Silver,
Zinc
Rizz Gold, Silver, Lead,
Zinc
Yak Gold, Silver
Kyler Hardy, CEO of Cloudbreak Discovery, commented, "We are
delighted to get boots on the ground in Northwestern BC. The
Cloudbreak team has extensive experience throughout the region and
recognises the great opportunity the Northwest Portfolio brings to
the Company.
"Our work programme will follow up on under-explored and
recently exposed outcrops identified in our desktop studies. We
look forward to deepening our understanding of these projects and
attracting new partners to advance them."
Further Information
The Northwest Portfolio is located between the Yukon border and
the community of Telegraph Creek and along the border with the
Alaskan Pan-Handle (see figure 1).
The projects are in the early stages, with limited work
conducted over the last 30 years. More recently there has been
considerable glacial pull back which has revealed previously
covered and unexplored ground and outcrops to examine in further
detail. The exploration programme will consist of mapping and
prospecting, with a particular focus on structural interpretation
and locating historic showings.
Update on the Klondike Project
Cloudbreak management are pleased to provide the following
update on the Klondike Project, the first project staked with
Alianza Minerals Ltd. (TSXV:ANZ) through the Strategic Copper
Alliance.
At the property, located in Colorado, the field crews have
conducted a 10-day mapping and prospecting programme with a focus
on the northeast portion of the claim block. The programme was
designed to allow the team to further constrain the geology and to
assist in defining possible drill collar locations. Samples have
been sent to the laboratory for analysis and the mapping will be
compiled and interpreted in the coming months.
Figure 1. Project Location Map
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 is comprised of two claims northeast and
southwest from each other and totals 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 can contain
copper, gold, silver and zinc. The claims are underlain by Stuhini
Group volcanic and sedimentary rocks with Sloko-Hyder plutonic
suite.
About the Yak Project
The Yak Project is underlain by the southern margin of the
Bennet Lake Caldera, with an eroded structural dome and thick
successions of pyroclastic and epiclastic, Eocene age, Skukum group
volcanic rocks. Cretaceous coast plutonic suite granodiorites and
quartz monzonites noted in the area as well. The geologic setting
is favourable for low-sulphidation epithermal gold-silver veins or
mesothermal lode gold.
Mineralisation observed on the property to date consists of
multiple quartz veins of varying widths between 0.5 metres and five
metres, containing galena, sphalerite and chalcopyrite.
An analogous target is the Skukum Gold Project which appears to
contain both styles of mineralisation. Within the project there is
the Skukum Creek deposit which contains an Indicated Resource of
one million tonnes at 5.85 grammes per tonne of gold and 166.4
grammes per tonne of silver (gold equivalent of 7.75 grammes per
tonne) and an Inferred Resource of 537,000 tonnes at 4.99 grammes
per tonne of gold and 108.3 grammes per tonne of silver (gold
equivalent of 6.22 of grammes per tonne).
Additionally, the Goddell deposit contains an Indicated Resource
of 329,700 tonnes at 8.13 grammes per tonne of gold and an Inferred
Resource of 483,900 tonnes at 7.13 grammes per tonne gold.
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 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 is 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 is documented in the Sloko-Hyder
plutonic suite with several gossanous zones identified for
immediate follow up now that field work has commenced. 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.
About the Klondike Project
The Klondike project is located approximately 25 kilometres
south of Naturita, Colorado. This property lies within the Paradox
Copper Belt, which includes the producing Lisbon Valley Copper
Mine. Previous workers reported high-grade copper mineralization
highlighted by results of 6.3% copper and 23.3 grammes per tonne of
silver in outcrop. In addition to its high-grade potential,
disseminated copper-silver mineralisation may be amenable to modern
open pit mining with Solvent Extraction Electro Winning ("SXEW")
processing similar to the Lisbon Valley Mine.
Sedimentary hosted copper deposits are an important contributor
to world copper production, accounting for more than 20% of the
world's copper supply annually. The project is road accessible,
covering 843 hectare of Paradox basin sedimentary package in San
Miguel County, Colorado.
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.
This announcement contains information which, prior to its
disclosure, was inside information as stipulated under Regulation
11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310
(as amended).
- Ends -
For additional information please contact:
Cloudbreak Discovery Tel: +1 604 428 9480
PLC
Kyler Hardy, CEO khardy@cloudbreakdiscovery.com
Henrik Mikkelsen, VP hmikkelsen@cloudbreakdiscovery.com
Corporate Development
Novum Securities Tel: +44 7399 9400
Financial Adviser
and Broker
David Coffman / Lucy
Bowden
Colin Rowbury
Blytheweigh Tel: +44 207 138 3204 Cloudbreak@blytheweigh.com
(Financial PR/IR-London)
Tim Blythe
Megan Ray
Stellium Services Tel: +44(0)207.129.1205 Cloudbreak@StelliumServices.com
(Investor Relations)
www.StelliumServices.com Andrew Wilson
Claire Bowden
About Cloudbreak
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 sector and amongst
resource classes is key to withstanding the cycles of natural
resource investing.
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