REG - Cloudbreak Discovery - Option to acquire 888km2 Au/Cu project in WA

Cloudbreak DiscoveryAnnouncement

03/09/2025 07:30

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RNS Number : 7063X  Cloudbreak Discovery PLC  03 September 2025

3 September 2025

Cloudbreak Discovery Plc

('Cloudbreak', or 'the Company')

 

Option to acquire 888km(2) Au/Cu project in WA

 

Three exploration licenses located within 40km of the Telfer Gold Mine

Western Australia

 

Cloudbreak Discovery Plc (LSE: CDL), a London Stock Exchange Main Market
listed company, is pleased to announce the acquisition of the Paterson
Gold-Copper-Molybdenum Project ("The Paterson Project"), that covers
888km(2 ) in the Paterson Province of Western Australia, located only 40km
southwest of the Telfer Gold-Copper Mine operated by Greatland Gold Plc
(Figure 1).

 

Highlights:

·      The Paterson Project covers 888km(2) of granted Exploration
tenure, 40km south west of Greatland Gold Plc's (GGP London and ASX) Telfer
Gold Copper Mine. Telfer has produced 15Moz of gold and combined with Havieron
hosts a total of 10.2Moz Au in resources.

·      Drilling last completed in 1987 with multiple significant
drilling intercepts including:

o  17m @ 1.6% Cu, 317ppm Mo from 84m (87WDRC2)

▪    Including 9m @ 2.6% Cu, 456ppm Mo

o  9m @ 2.0% Cu, 0.14g/t Au, 272ppm Mo from 84m (87WDRC6)

▪    Including 5m @3.1% Cu, 0.20g/t Au, 430ppm Mo

o  11m @ 1.5% Cu, 0.10g/t Au, 181ppm Mo from 83m (87WDRC8)

▪    Including 7m @ 2.1% Cu, 0.15g/t Au, 250ppm Mo

o  13m @ 1.1% Cu, 0.29g/t Au from 107m (87WDRC14)

▪    Including 6m @ 2.0% Cu, 0.27g/t Au

o  8m @ 0.7% Cu, 310ppm Mo from 98m (87WDRC7)

▪    Including 1m @ 3.3% Cu, 0.22g/t Au, 560ppm Mo

·      Historic exploration looking for copper not gold

·      Significant drilling intercepts are shallow and can be targeted
using RC drilling

·      Multiple geophysical targets identified which are yet to be drill
tested

·      Targets associated with magnetic lows and gravity highs

·      Mobile MT, a technique utilised by industry players and the
Telfer Mine in the Paterson Province, to be used over the Paterson Project
area

·      The Paterson Project also surrounds the Kintyre Uranium Project
owned by global major Cameco Corp. Kintyre hosts a total indicated resource of
53.5Mlb U(3)O(8)

 

Tom Evans, Cloudbreak's MD, commented; "I am excited and delighted we have
been able to secure exclusivity on this fantastic opportunity to acquire this
asset, in a jurisdiction with significant activity and recent proven success.
Located only 40km southwest of the Telfer Gold-Copper Mine operated by
Greatland Gold Plc.

 

Technological advances in geophysics since the 80's have improved greatly with
the success of Mobile MT in the Paterson Province, we intend to start off with
this geophysical survey, to use as another vector and data layer to refine and
rank drill targets not only for copper but for gold as well.

 

I am excited, for the Company and its shareholders, as we progress this great
opportunity and I look forward to updating the market as our exploration
programs progress."

 

Location

 

The Paterson Project (Figure 1) directly surrounds the Kintyre Uranium Deposit
and is located 40km south-south-west of Greatland Gold Plc's Telfer
Gold-Copper Mine.

 

Figure 1: Location Plan

Exploration Completed

 

The Wanderer Prospect (Figure 2 and 3) was drilled between 1987 and 1990 by
CRA (at  significantly lower prevailing copper and gold prices) as part of
its uranium exploration expenditure across its nearby Kintyre Project. The
majority of drilling was only drilled to 100m from the surface, with multiple
holes logged as ending in mineralisation. No follow‐up drilling has occurred
in the 35 years since then. Forty-two drill holes were drilled at the Wanderer
Prospect on E45/5358 tenement.

 

Multiple significant drilling intercepts include:

·      17m @ 1.6% Cu, 317ppm Mo from 84m (87WDRC2)

o  Including 9m @ 2.6% Cu, 456ppm Mo

·      9m @ 2.0% Cu, 0.14g/t Au, 272ppm Mo from 84m (87WDRC6)

o  Including 5m @3.1% Cu, 0.20g/t Au, 430ppm Mo

·      11m @ 1.5% Cu, 0.10g/t Au, 181ppm Mo from 83m (87WDRC8)

o  Including 7m @ 2.1% Cu, 0.15g/t Au, 250ppm Mo

·      13m @ 1.1% Cu, 0.29g/t Au from 107m (87WDRC14)

o  Including 6m @ 2.0% Cu, 0.27g/t Au

·      8m @ 0.7% Cu, 310ppm Mo from 98m (87WDRC7)

o  Including 1m @ 3.3% Cu, 0.22g/t Au, 560ppm Mo

 

Figure 2: Wanderer Prospect Drill Section

 

Figure 3: Wanderer Prospect- Drill Collar Plan and Mineralised Trend

 

Deal Terms

 

Cloudbreak has paid a A$20,000 option fee to secure two months exclusive due
diligence across the Paterson Project. If Cloudbreak elects to proceed, it can
acquire a 90% interest in the project via the issue of 330,000,000 shares to
Mammoth Minerals Ltd (ASX:M79, "Mammoth"). Mammoth is to retain a 10% free
carried interest in the Project until the completion of a Definitive
Feasibility Study with a positive NPV.

 

Tenure

 

The Project consists of three granted exploration licences E45/5358, E45/5391
and E45/6244 covering a land area of 888km(2).

 

The ground is contiguous to the west, of the Cottesloe base-metal project held
by Wishbone Gold Plc.

 

Regional Geology

 

The Paterson Orogen is a 2,000km long arcuate belt of folded and metamorphosed
sedimentary and igneous rocks that range in age from predominantly
Palaeoproterozoic to Neoproterozoic with limited outcrops of Archaean rocks.

 

The eastern margin of the Paterson Orogen is masked by younger Proterozoic to
Phanerozoic sedimentary rocks (Officer and Canning Basins) with sedimentary
units of the late Proterozoic Savory Basin on-lapping to the southwest. The
main outcropping stratigraphic packages across the bulk of the Paterson
Project are the lowermost member of the Mesoproterozoic to Neoproterozoic
Yeneena Group, the Coolbro Sandstone, and the Paleoproterozoic Rudall
Metamorphic Complex.

 

Local Geology

 

The Paleoproterozoic Rudall Metamorphic Complex hosts the Central Tenements
surrounding the Kintyre Uranium deposit. At and around Kintyre, the
prospective Yandagooge Formation outcrops within the Yandagooge Inlier,
consisting of a "basement high" of Rudall Metamorphic Complex surrounded by
Neoproterozoic sandstone and Permian glacial tillite. The basement sequence
has undergone a minimum of four deformation episodes and is unconformably
overlain by Neoproterozoic sandstone and conglomerate deposits of the Yeneena
Basin, which have seen at least one major deformation episode.

 

The dominant host-rock to mineralisation at Kintyre is a garnet-rich,
chert-banded, calc-silicate magnetite schistose rock, sandwiched between
carbonates and shales of the Yandagooge Formation. These are amphibolite
facies metamorphosed rocks, later retrogressively metamorphosed to greenschist
facies during or prior to the principal mineralisation phase. Late in syn-D3
or during D4 uranium-bearing, hydrothermal fluids were introduced into the
system, depositing pitchblende within northeast dipping dilational zones
developed in the S3 cleavage.

 

In the Kintyre area, the Yandagooge Inlier is surrounded by Coolbro Sandstone,
which comprises a thick quartz sandstone sequence with intercalated
carbonaceous mudstone and shale interbeds (Jackson & Andrew, 1990). The
Coolbro Sandstone, which represents the basal formation of the low-grade
metamorphic Neoproterozoic Yeneena Supergroup, exhibits a strong slaty
cleavage and has been isoclinally folded and deformed around NW trending axes.

 

The Central Tenements around the Kintyre deposit are predominantly covered by
outcropping northwest-southeast trending, northerly dipping, and folded
Coolbro sandstone. Aeolian sand covers areas in the west-central and southeast
portions of the tenement. It is believed that these areas are directly
underlain by an inlier of the Yandagooge Formation Rudall Metamorphics
(Jackson & Andrew, 1990). Rudall Metamorphics outcrop in the west-central
area and near the south-eastern corner of the tenement. The north eastern edge
of the tenement has outcropping northwest-southeast trending, northerly
dipping, and folded Broadhurst Formation.

 

Exploration Potential and Prospectivity

 

The Paterson Province hosts several major copper and gold operations,
including the Nifty copper mine and the world-class Telfer gold mine. More
recently, several new copper-gold discoveries have been made at Winu (Rio
Tinto) and Havieron (Greatland Resources PLC???).

 

A review of a compilation of available geophysical data reprocessed using
modern techniques highlights multiple anomalies, including a large "bullseye"
magnetic anomaly at Wanderer Prospect within the Central Tenements. The
Wanderer Copper-Gold Prospect, first discovered by CRA in 1987, reveals the
presence of significant copper, gold and molybdenum values in a wide zone of
iron‐oxide alteration extending across more than 1 km of strike. In
addition, geochemical assemblage (Cu-Au-Mo) is potentially indicative of a
porphyry intrusion as the source of mineralisation. Several other targets with
low-magnetics/high gravity signatures have been identified.

 

At a regional scale, the Paterson Province has potential for large
intrusive-related copper and gold targets undercover, requiring geophysical
methods, such as Mobile MT by Expert Geophysics Limited, that has been
successfully used in the Paterson Province as means of primary target
identification.

 

A review of geophysical and structural data (Figure 4), has identified several
compelling exploration opportunities around the existing Wanderer copper-gold
project.

 

Figure 4: RTP Magnetics Left and Gravity Right, illustrating numerous
coincident magnetic low and gravity high targets

 

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).

 

For additional information please contact:
 
 Cloudbreak Discovery PLC              Peter Huljich, Chairman           Tel: +44 207 887 6139
                                       Tom Evans, Managing Director      Tel: +44 7851 703440
 Novum Securities (Financial Adviser)  David Coffman / Anastassiya Eley  Tel: +44 7399 9400

About Cloudbreak Discovery PLC
 
Cloudbreak Discovery PLC is a leading natural resource explorer and project generator. Cloudbreak is focused on mineral exploration and energy opportunities with the aim of bringing near-term cashflow and driving shareholder value.
 
Through its wholly owned but independently operated subsidiaries, the Company will develop its array of mineral assets, whilst continuing to generate new projects with a particular focus on commodities with high intrinsic value.
 
Cloudbreak's generative model across the mineral sector enables a multi-asset approach to investing in the commodity cycle.

 

Competent Persons Statement

The Information in this report that relates to exploration results, mineral
resources or ore reserves is based on information compiled by Mr Edward Mead,
who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr
Mead is a consultant to Cloudbreak Discovery Plc and employed by Doraleda Pty
Ltd. Mr Mead has sufficient experience which is relevant to the style of
mineralisation and type of deposits under consideration and to the activity
that he is undertaking to qualify as a Competent Person as defined in the 2012
edition of the `Australian Code for Reporting Exploration Results, Mineral
Resources and Ore Reserves' (the JORC Code). Mr Mead consents to the inclusion
of this information in the form and context in which it appears in this
report.

Table 1: Significant Assays (>0.3% Cu or 0.3ppm Au)

 

 Hole      From (m)  To (m)  Interval (m)  Cu %   Au    Mo ppm
 87WDRC1   25        28      3             0.30%  0     6
 87WDRC10  53        54      1             0.31%  0.25  350
 87WDRC12  111       115     4             0.70%  0.35  18
 87WDRC13  101       102     1             0.34%  0.07  34
 87WDRC13  102       103     1             0.35%  0.09  40
 87WDRC13  105       106     1             1.11%  0.12  18
 87WDRC13  108       109     1             0.45%  0.04  33
 87WDRC13  109       110     1             0.88%  0.06  37
 87WDRC13  110       111     1             0.63%  0.16  43
 87WDRC13  111       112     1             0.83%  0.09  38
 87WDRC14  77        78      1             1.22%  0.15  145
 87WDRC14  107       110     3             0.56%  0.17  74
 87WDRC14  110       112     2             0.25%  0.65  18
 87WDRC14  114       115     1             2.11%  0.59  26
 87WDRC14  115       116     1             1.17%  0.17  29
 87WDRC14  116       118     2             2.68%  0.28  22
 87WDRC14  118       120     2             1.82%  0.15  30
 87WDRC17  0         5       5             0.01%  0.38  21
 87WDRC2   84        85      1             0.53%  0.02  460
 87WDRC2   88        89      1             0.89%  0.04  280
 87WDRC2   89        90      1             1.15%  0.04  1270
 87WDRC2   90        91      1             1.68%  0.03  1000
 87WDRC2   91        92      1             4.00%  0.09  610
 87WDRC2   92        93      1             3.61%  0.06  620
 87WDRC2   93        94      1             6.51%  0.06  220
 87WDRC2   94        95      1             1.20%  0.01  15
 87WDRC2   95        97      2             2.34%  0.03  44
 87WDRC2   97        99      2             0.52%  0.03  40
 87WDRC2   99        101     2             0.32%  0.01  49
 87WDRC22  75        80      5             0.62%  0.16  13
 87WDRC22  80        85      5             0.10%  0.3   9
 87WDRC24  70        73      3             0.33%  0.04  34
 87WDRC24  73        77      4             0.71%  0.09  41
 87WDRC24  77        80      3             0.61%  0.06  30
 87WDRC26  82        86      4             0.68%  0.09  28
 87WDRC3   83        84      1             0.45%  0.01  7
 87WDRC3   85        86      1             0.52%  0.07  140
 87WDRC3   86        88      2             0.42%  0.03  69
 87WDRC6   84        85      1             5.18%  0.29  620
 87WDRC6   85        86      1             2.60%  0.22  720
 87WDRC6   86        87      1             2.56%  0.21  350
 87WDRC6   87        88      1             2.31%  0.18  290
 87WDRC6   88        89      1             3.05%  0.11  169
 87WDRC6   89        90      1             1.01%  0.1   81
 87WDRC6   90        91      1             0.57%  0.04  59
 87WDRC6   91        92      1             0.42%  0.03  42
 87WDRC6   92        93      1             0.72%  0.04  121
 87WDRC7   98        103     5             0.31%  0.01  46
 87WDRC7   103       104     1             3.27%  0.22  560
 87WDRC7   104       105     1             0.71%  0.08  360
 87WDRC7   105       106     1             0.34%  0.09  1330
 87WDRC8   83        84      1             0.88%  0.11  200
 87WDRC8   84        85      1             2.01%  0.26  280
 87WDRC8   85        86      1             2.18%  0.14  178
 87WDRC8   86        87      1             2.02%  0.15  260
 87WDRC8   87        88      1             3.23%  0.18  420
 87WDRC8   88        89      1             2.59%  0.11  210
 87WDRC8   89        90      1             1.81%  0.08  200
 87WDRC8   90        92      2             0.39%  0.01  43
 87WDRC8   92        94      2             0.70%  0.03  77
 88WDD03   89        90      1             0.67%  0.04  53
 88WDD03   90        91      1             0.36%  0.03  40
 88WDD03   190       191     1             0.61%  0.08  78
 88WDD03   191       192     1             0.43%  0.06  87
 88WDRC27  43        44      1             0.19%  0.99  24
 88WDRC28  58        62      4             0.48%  0     11
 88WDRC36  90        95      5             0.32%  0.02  9
 88WDRC36  95        100     5             0.46%  0.1   20

 

 

 

 

 

 

 

 

Table 2: Collar location and Hole Type

 Hole ID   Easting  Northing  RL (m)  Total Depth (m)  Dip  Azimuth  Hole Type
 87WDRC1   402140   7521450   430     104              -60  180      RC
 87WDRC2   402180   7521450   430     120              -60  180      RC
 87WDRC3   402220   7521450   430     120              -60  180      RC
 87WDRC4   402200   7521410   430     120              -60  180      RC
 87WDRC5   402170   7521410   430     120              -60  180      RC
 87WDRC6   402160   7521450   430     116              -60  180      RC
 87WDRC7   402180   7521470   430     120              -60  180      RC
 87WDRC8   402200   7521450   430     109              -60  180      RC
 87WDRC9   402260   7521450   430     98               -60  180      RC
 87WDRC10  402060   7521460   430     89               -60  180      RC
 87WDRC11  402030   7521480   430     120              -60  180      RC
 87WDRC12  402010   7521440   430     120              -60  180      RC
 87WDRC13  401250   7521520   450     120              -90  0        RC
 87WDRC14  401250   7521480   450     120              -90  0        RC
 87WDRC15  401210   7521520   450     114              -90  0        RC
 87WDRC16  401250   7521560   450     109              -90  0        RC
 87WDRC17  401290   7521520   450     115              -90  0        RC
 87WDRC18  401330   7521490   450     119              -90  0        RC
 87WDRC19  401170   7521600   450     120              -90  0        RC
 87WDRC20  401210   7521560   450     120              -90  0        RC
 87WDRC21  401250   7521440   450     120              -90  0        RC
 87WDRC22  401642   7521465   450     98               -60  180      RC
 87WDRC23  401658   7521465   450     100              -60  180      RC
 87WDRC24  401675   7521465   450     100              -60  180      RC
 87WDRC25  401700   7521465   450     96               -60  180      RC
 87WDRC26  401662   7521493   450     100              -60  180      RC
 88WDRC27  401245   7521605   450     80               -60  240      RC
 88WDRC28  401280   7521600   450     81               -60  240      RC
 88WDRC29  401220   7521690   450     69               -60  250      RC
 88WDRC30  401140   7521760   451     54               -60  250      RC
 88WDRC31  401135   7521800   448     69               -60  240      RC
 88WDRC32  401250   7521750   450     106              -90  0        RC
 88WDRC33  401250   7521700   440     87               -60  200      RC
 88WDRC34  401250   7521335   450     105              -90  0        RC
 88WDRC35  401950   7521360   430     106              -90  0        RC
 88WDRC36  401950   7521285   450     106              -90  0        RC
 88WDRC37  401950   7521425   440     106              -90  0        RC
 87WDD01   401950   7521500   415     287.7            -61  181      DD
 87WDD02   401985   7521555   440     117              -70  180      DD
 88WDD03   401250   7521500   420     212.7            -90  0        DD
 88WDD04   402180   7521480   434     200.8            -90  0        DD
 90WDD05   401950   7521425   440     409.9            -90  0        DD

 

 

 

 

 

 

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