REG - Cloudbreak Discovery - Completion of Airborne Survey on Northern Treasure

Cloudbreak DiscoveryAnnouncement

28/10/2022 07:00

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RNS Number : 3970E  Cloudbreak Discovery PLC  28 October 2022

28 October 2022

 

Cloudbreak Discovery Plc

("Cloudbreak" or the "Company")

 

Cloudbreak Completes Airborne Magnetic Survey on Northern Treasure

 

Cloudbreak Discovery PLC (LSE: CDL), a leading natural resources project
generator and royalty business, with a particular focus on resources key to
the energy transition, is pleased to announce that Precision GeoSurveys has
completed a high-resolution helicopter-borne magnetic survey over the Northern
Treasure Project ("Northern Treasure" or the "Project"), located in
northwestern British Columbia.

 

The survey consisted of 3,133 line-kilometres, flown at 100 metres
line-spacing covering the entirety of the two claim blocks. The survey has
identified several prominent structures and the survey results will provide
valuable information enabling Cloudbreak to understand the geologic story of
the property and delineate targets.

 

The Company intends to follow up on this survey next year with a surface
program comprised of mapping, prospecting and soil sampling. Cloudbreak's
focus will be on: lineaments identified in this magnetic survey; anomalies
from the remote sensing study conducted earlier this year; and ground truthing
historic minfile occurrences that initially drew the Company's interest to the
area when it selected Northern Treasure for staking. Integration of the
magnetic data and interpretation is currently ongoing to prioritize the target
areas for this program.

 

Kyler Hardy, President and CEO of Cloudbreak, commented, "The high detail of
this survey has highlighted some structures that are coincident with minfile
occurrences. We are looking forward to refining the interpretation and getting
back out on the project next year. The regional mineralization and historic
showings both on the property and along the geologic trends are what initially
attracted us to the property."

 

Figure 1. Total Magnetic Intensity Map of The Northern Treasure Claims group.

 

Figure 2: Total Magnetic Intensity with Preliminary Lineament Interpretation.

 

In addition to the completion of the survey at Northern Treasure, Cloudbreak's
partner, Power Group Projects Corp ("PGP") conducted surveys over the portion
of the northwestern portfolio, specifically Rizz, Icefall and Atlin West
projects, which were surveyed as per PGP's news release from October 17, 2022.

 

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.

 

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

 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 and exploration. Diversification within the
mining sector and amongst resource classes is key to withstanding the cycles
of natural resource investing.

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