Completion of First Programme at Foggy Mountain

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: [phone]
	Kyler Hardy, CEO	[e-mail]
Novum Securities (Financial Adviser)	Tel: [phone]
	David Coffman
Shard Capital Partners (Broker)	Tel: [phone] Damon Heath / Isabella Pierre
BlytheRay (Financial PR/IR-London)	Tel: [phone]	[e-mail]
	Tim Blythe
	Megan Ray
Stellium Services (Investor Relations)	Tel: [phone]	[e-mail]
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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