REG - Cloudbreak Discovery - Completion of First Programme at Foggy Mountain

Cloudbreak DiscoveryAnnouncement

19/10/2022 07:01

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RNS Number : 3133D  Cloudbreak Discovery PLC  19 October 2022

19 October 2022

Cloudbreak Discovery Plc

("Cloudbreak" or the "Company")

 

Cloudbreak Completes First Programme at the Foggy Mountain Project

 

Cloudbreak Discovery Plc (LSE: CDL), a leading natural resources project
generator with a particular focus on commodities key to the energy transition,
is pleased to announce that it has completed a reconnaissance surface
programme at the Foggy Mountain Project (the "Property") in the Toodoggone
region in north central British Columbia, located immediately east of the past
producing Kemess Mine. The Property was initially generated and staked in
April 2022.

 

Programme Highlights:

 

·    Confirmed three of the four historic mineral occurrences (the fourth
minfile area was not visited in 2022)

·    Seven grab samples assayed >1% copper (Cu)

·    Completed prospecting and mapping across the central portion of the
Property

 

Kyler Hardy, CEO of Cloudbreak Discovery, commented, "These encouraging
results seen at one our early-stage targets demonstrate how Cloudbreak can
generate interesting ideas with potentially significant exploration upside for
our partners. British Columbia remains a globally significant source of copper
with many valid unexplored or under-explored targets.

 

"With Foggy Mountain located at the south end of the Toodoggone region, the
project is well situated, lying on trend with several past-producers, and has
mineralization which has been described as comparable to that of Kemess. Our
focus is now on identifying a partner to further explore Foggy Mountain and if
successful, develop the project to its full potential."

 

About Foggy Mountain

The Foggy Mountain Project covers 4,209.96 hectares, is roughly
northwest-southeast trending, and comprises three claim blocks. It is located
at the southern end of the Toodoggone Camp, in north central British Columbia,
near Thutade Lake approximately 250 kilometres ("km") north of Smithers and
430 km northwest of Prince George. The Toodoggone camp is denoted by a series
of northwest trending structures cutting Paleozoic through Mesozoic
sedimentary, volcanic and intrusive rocks. The Property lies along a
mineralized corridor containing several past producers, including Shasta,
Baker, Lawyers and Kemess South.

 

The property geology 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 strike-slip faults. Sampling
has identified multiple showings where mineralization is associated with
quartz, quartz-carbonate, or massive sulphide veins or on the Property.
Several mineralized outcrops were observed to be semi-massive to massive
sulphide skarn in limestone. The other pertinent style of mineralization
observed was comprised of fine grained disseminated pyrite with anomalous
precious metal content in altered volcanic and intrusives.

 

Of particular note is the alteration in the intrusive rocks (granodiorite and
diorite) showing quartz-sericite-pyrite alteration. Multiple mineralizing
events are manifested in these veins and range in composition from
quartz-pyrite (+/-magnetite, chalcopyrite, molybdenite and gold) and
pyrite-chalcopyrite (+/-gold). In addition, host rocks contain disseminated
mineralization. The overall style of mineralization 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.

 

 

2022 Salient Results:

 Sample ID  Easting   Northing  Elevation (m)  Rock Type     Source   Cu %  Au_ppm  Ag_ppm
 F00070107  647891    6317783   1816           Granite       Outcrop  0.36  11.3    90.5
 F00070109  648691.4  6320364   1681           -             Outcrop  0.28  0.01    3.31
 F00070123  648108.5  6322618   1690           -             Outcrop  2.33  8.32    43.4
 F00070124  647987.5  6322554   1720           Quartz        Outcrop  1.50  0.01    4.54
 F00070125  647984.8  6322550   1722           Quartz        Outcrop  0.24  0.02    2.95
 F00073597  648667    6320374   1690           Skarn         Outcrop  2.14  0.06    36.3
 F00073598  648667    6320374   1690           Skarn         Outcrop  2.63  0.03    34.7
 F00073671  648073    6320841   1639           Granodiorite  Outcrop  0.14  0.02    5.4
 F00073672  647942    6320848   1652           Quartz        Float    1.16  0.05    30.2
 F00073673  648170    6322476   1817           Quartz        Outcrop  3.52  0.08    14.2
 F00073675  648105    6322472   1851           Volcanic      Outcrop  2.08  0.02    25.3
 F00073676  648073    6322425   1876           Volcanic      Outcrop  0.36  0.07    1.435
 F00073677  648055    6322421   1878           Volcanic      Outcrop  0.54  0.24    2.26
 F00073678  648055    6322421   1878           Diorite       Outcrop  0.33  0.01    2.53

 

 

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

 (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 sector
and amongst resource classes is key to withstanding the cycles of natural
resource investing.

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