TIDMCDL
RNS Number : 8008T
Cloudbreak Discovery PLC
29 November 2021
29 November 2021
Follow the link to read the press release in full, including
figures:
http://www.rns-pdf.londonstockexchange.com/rns/8008T_1-2021-11-28.pdf
Cloudbreak Discovery and Alianza Minerals acquire Stateline
Copper Project under the Southwest US Copper Alliance, Colorado
-- Second copper prospect acquired under Southwest US Copper Alliance
-- Eight kilometres on trend from producing Lisbon Valley Mining Complex
-- Mineralisation and host rocks bear strong resemblance to
those at Lisbon Valley Mining Complex
Cloudbreak Discover Plc ("Cloudbreak") (LSE: CDL) and Alianza
Minerals Ltd. ("Alianza") (TSX-V" ANZ, OTCQB: TARSF) (the
"Alliance") are pleased to announce the acquisition of the
Stateline Property ("Stateline"), located in Colorado and Utah,
United States, which consists of 22 unpatented mining claims from
local prospectors.
The Alliance is excited to announce its second property
acquisition targeting sediment hosted copper mineralisation at the
Stateline Project. Together, the two companies will continue to
identify, acquire, and advance copper projects in the southwestern
US states of Arizona, Colorado, New Mexico and Utah. Progress has
been excellent to date and work continues to identify new copper
exploration opportunities to acquire and advance with the intent of
finding strong partners to move the projects forward.
Stateline Project Highlights:
- Road accessible, 148 hectare, property covering Paradox Basin
sedimentary package in San Miguel County, Colorado and San Juan
County, Utah
- Favourable stratigraphy known to host sediment-hosted copper
deposits in the Paradox Copper Belt including the producing Lisbon
Valley Mine Complex ("LVMC"), eight kilometres to the northwest
- Exposed copper oxide mineralisation at the surface within host
sandstone units bearing strong similarities to copper deposits
along trend at the LVMC
- Mineralised outcrops have yielded assay results up to 1.6%
copper and 1.7 grams per tonne ("g/t") silver and 0.45% copper and
2.1 g/t silver
Kyler Hardy, President and CEO of Cloudbreak , reflected on
Stateline, stating "This target presents an opportunity to drill
test multiple horizons of favourable mineralisation. Mineralisation
outcrops at the surface and we are looking forward to gaining a
better understanding of the geological setting at Stateline. The
proximity and on-trend position of Stateline relative to the LVMC
makes this a highly prospective project in our view."
Jason Weber, President and CEO of Alianza , noted that "The
Stateline property is another great target generated through this
Alliance and demonstrates a strong ability to identify interesting
prospects for copper mineralisation."
About the Stateline Project
The Stateline project is located approximately 40 kilometres
southwest of Naturita, Colorado, covering the state boundary
between Utah and Colorado at the southeast end of the Lisbon
Valley. This property lies within the Paradox Copper Belt, which
includes the producing LVMC. There are numerous historical copper
occurrences that have been identified throughout the belt, however,
many of these have not been explored using modern exploration
techniques.
At Stateline, historical exploration was conducted as part of
the regional programs associated with the LVMC. Previous explorers
reported copper mineralization highlighted by results of 1.6%
copper and 1.7 g/t silver in outcrop. Mineralisation visible in
outcrop occurs as disseminated malachite, which may be amenable to
modern open pit mining with Solvent Extraction Electro Winning
("SXEW") processing similar to the LVMC. The mineralisation noted
to date is interpreted to be the southeast extension of the Flying
Diamond mineralisation, which is a current target of interest
associated with the Lisbon Valley Mining Complex.
Figure 1. Stateline Property Location and Regional Geology Plan
Map
Stateline is located adjacent to a northwest trending graben
bounding fault near the southeast terminus of the Paradox Basin
salt-cored anticline in a similar structural and stratigraphic
setting as the LVMC. Copper mineralisation occurs in bleached and
altered, permeable sandstone units adjacent to the faults. Copper
mineralisation in outcrop includes malachite, azurite, chalcocite
and black copper oxides.
Historical surface sampling of mineralized outcrops has yielded
assay results up to 1.6% copper and 1.7 g/t silver and 0.45% copper
and 2.1 g/t silver. Disseminated copper-silver mineralisation has
also been identified in several outcropping sandstones in other
stratigraphic positions. Both styles of mineralisation will be
investigated in upcoming work programmes with the goal of refining
drill targets in these units. Initial work will include detailed
geological mapping, soil and rock sampling, and geophysics.
The project is road accessible year-round, via a network of
roads through the valley, including those supporting access to the
LVMC. The project is comprised of 22 mining claims on Federal
mineral rights managed by the BLM. Ground covered by the current
claims was at one time part of the Lisbon Valley Mining Complex
claim package.
The Stateline project was purchased from the underlying vendors
for a USD$20,000 cash payment and a further USD$40,000 payment in
the form of cash and/or shares.
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.
-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)
David Coffman / Lucy
Bowden
Shard Capital Partners Tel: +44 207 186 9900
(Broker)
Damon Heath / Isabella
Pierre
Blytheweigh Tel: +44 207 138 3204 Cloudbreak@blytheweigh.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 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 the 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.
About Alianza Minerals Ltd.
Alianza employs a hybrid business model of joint venture funding
and self-funded projects to maximize opportunity for exploration
success. The Company currently has gold, silver and base metal
projects in Yukon Territory, British Columbia, Colorado, Nevada and
Peru. Alianza currently has one project (Tim, Yukon Territory)
optioned out to Coeur Mining, Inc. and is actively seeking partners
on other projects.
The Company is listed on the TSX Venture Exchange under the
symbol "ANZ" and trades on the OTCQB market in the US under the
symbol "TARSF".
About the Strategic Alliance
Under the terms of the Alliance, either Cloudbreak Discovery Plc
or Alianza Minerals Ltd can introduce projects to the Strategic
Alliance. Projects accepted into the alliance will be held 50/50
but funding of the initial acquisition and any preliminary work
programs will be funded 40% by the introducing partner and 60% by
the other party. Project expenditures are determined by committee,
consisting of two senior management personnel from each party.
Alianza is the operator of alliance projects unless the Alliance
steering committee determines, on a case-by-case basis, that
Cloudbreak would be a more suitable operator. The initial term of
the Alliance runs for two years and may be extended for an
additional two years.
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END
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