REG - Cloudbreak Discovery - Cloudbreak stakes Foggy Mountain Project

Cloudbreak DiscoveryAnnouncement

28/04/2022 07:00

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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
(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 PLC                                    Tel: +1 604 428 9480

                                                             Kyler Hardy, CEO                khardy@cloudbreakdiscovery.com (mailto: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 (mailto:Cloudbreak@BlytheRay.com)

 (Financial PR/IR-London)
                                                             Tim Blythe
                                                             Megan Ray

 Stellium Services                                           Tel: +44(0)207 129 1205         Cloudbreak@StelliumServices.com (mailto:Cloudbreak@StelliumServices.com)

 (Investor Relations)
 www.StelliumServices.com (http://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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