Imperial X Plc Magnetic Survey Completed & Board Changes
17 Junio 2021 - 01:00AM
UK Regulatory
TIDMCDL
17 June 2021
Imperial X PLC
"Imperial X" or the "Company"
Soon to be renamed Cloudbreak Discovery PLC
Airborne Magnetic Survey Completed on the South Timmins Property
Board Changes
Imperial X PLC (LSE: CDL), the natural resource project generator, is pleased
to announce that it has completed a high-resolution helicopter-borne 3-axis
gradient magnetic survey for its South Timmins Project.
The South Timmins Project is one of 10 projects currently held by the Company
and is a gold prospect located in Ontario, Canada, in the Abitibi Greenstone
Belt. The Abitibi is the largest, most prolific greenstone belt in the world
with 190 million ounces ("Moz") of gold produced and counting.
The survey data is currently being compiled and processed. The results of the
survey will assist in identifying potential targets and trends for follow up
exploration work. The Company will release the results when available.
The South Timmins project was staked in late 2020 as a 50:50 co-venture with
Vector Geological Solutions Inc. and is an excellent representation the
Company's ability to source, secure and then commence early-stage exploration
work to establish a value model for the project and Cloudbreak shareholders.
Kyler Hardy, CEO of Imperial X, commented, "We are pleased to continue the
successful execution of our exploration and business model efficiently and will
now follow up on the new data findings through further modeling and surface
exploration. We look forward to updating the market on South Timmins as this
exciting project develops."
The South Timmins project is located 40 kilometres ("km") south of the main
Timmins mining camp, which has produced over 70 Moz to date and is home to more
than 50 mining companies, and 40 km west of the Young-Davidson project, a mine
that commenced production in 1934 and hosts a current reserve of 3.2 Moz. The
property contains iron formation and mafic-felsic volcanic transitions, which
are favourable host rocks for orogenic lode gold and volcanogenic massive
sulphide deposit. Government data has been used to identify several prospective
lineaments on the property which may represent gold prospective damage zones.
Historic exploration work on the property is limited, however, rock samples
with >200 ppb gold along one of the contacts between the mafic and felsic
volcanic rocks on the property have been identified.
Board Changes
Melissa Sturgess has resigned as a Director of the Company with immediate
effect due to increased commitments on several other projects. The Board of
Directors would like to thank Ms. Sturgess for her contribution and assistance
in getting the Company listed and wish her good luck in her future endeavors.
The Company has begun searching for a new Director who will provide appropriate
guidance and experience for Cloudbreak to execute its business plan.
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). The directors of
Imperial X PLC accept responsibility for this announcement.
For additional information please contact:
Imperial X PLC Tel: +1 604 428 9480
Kyler Hardy, CEO khardy@cloudbreakdiscovery.com
Kyle Hookey, Director khookey@cloudbreakdiscovery.com
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
About Imperial X
Imperial X PLC, which will change its name to Cloudbreak Discovery PLC as soon
as practicable, 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.
About Vector Geological Solutions Inc.
Vector Geological Solutions Inc. is a geological consultancy that specializes
in exploration project opportunity recognition, project acquisition and project
advancement. Vector Geological Solutions Inc. provides technical geological
support to junior and mid-tier exploration and mining companies with projects
in North America, South America, Europe and Scandinavia.
About Precision GeoSurveys Inc.
Precision GeoSurveys Inc. specialises in low level airborne geophysical surveys
in mountainous terrain to support the following activities: Mineral
exploration, diamond exploration, uranium exploration, oil & gas exploration,
ground water investigations, geophysical applications, geothermal mapping,
radioisotope detection and mapping, unexploded ordnance (UXO) mapping,
geotechnical, cultural and engineering investigations.
END
(END) Dow Jones Newswires
June 17, 2021 02:00 ET (06:00 GMT)
Cloudbreak Discovery (LSE:CDL)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024
Cloudbreak Discovery (LSE:CDL)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024