TIDMCDL
RNS Number : 1187U
Cloudbreak Discovery PLC
01 December 2021
01 December 2021
Follow the link to read the press release in full, including
figures:
http://www.rns-pdf.londonstockexchange.com/rns/1187U_1-2021-11-30.pdf
Cloudbreak Discovery and Alianza Minerals Complete Surface
Sampling Program at the Klondike Project, Colorado
-- Results include 1.56% Copper from a 4.6 metre chip sample
-- Expands known Copper Mineralization and Delineates New Copper Target
Cloudbreak Discover Plc ("Cloudbreak") (LSE: CDL) and Alianza
Minerals Ltd. ("Alianza") (TSX-V" ANZ, OTCQB: TARSF) (the
"Alliance") are pleased to announce the results from a surface
sampling program at the Klondike Property, the first project
acquired under the newly formed Strategic Alliance. The Klondike
Property ("Klondike"), located in Colorado, United States, consists
of 76 unpatented mining claims, a State of Colorado Exploration
Permit and an exclusive right to a State lease.
A reconnaissance program consisting of mapping, stream sediment
sampling and rock sampling was undertaken at Klondike to help
define drill targets at the West Graben Fault and East Graben Fault
targets. Rock sampling and mapping successfully expanded the
footprint of both targets and identified a new target named the
Northeast Fault. Sampling at the Northeast Fault returned 1.56%
copper and 1.4 grams per tonne ("g/t") silver over a 4.6 metre chip
sample of bleached, bitumen spotted and altered Jurassic sandstones
of the Saltwash member of the Morrison Formation.
Copper mineralized sandstones at the Northeast Fault target can
be traced along the fault and outboard from it into the adjacent
sandstones over an area 200 metres long by 100 metres wide before
becoming obscured beneath gravel cover. Further anomalous copper,
including 2.1 metres of 463 ppm copper, was encountered over one
kilometre to the northwest where the structure and host strata next
appear from beneath the same gravel cover.
Kyler Hardy, President and CEO of Cloudbreak , reflected on
Klondike, commented: "We are in a great position at Klondike having
defined three high priority areas at the West Graben, East Graben
and Northeast Fault targets. Each target has demonstrated anomalous
copper mineralization over two kilometres of strike length and up
to 200 metres outboard from the faults themselves. We look forward
to being able to drill test these areas."
Jason Weber, President and CEO of Alianza Minerals , stated: "We
are extremely excited by the delineation of the new Northeast Fault
Target at Klondike. The size of the target, strength of the copper
mineralization and enticing possibility that it persists under
gravel cover make it an important, high priority drill target at
Klondike."
Klondike Project Highlights:
- Road accessible, 843 hectare property covering Paradox basin
sedimentary package in San Miguel County, Colorado
- Favourable stratigraphy known to host Sediment-hosted copper
deposits in the emerging Paradox Copper Belt similar to the
operating Lisbon Valley Mining Complex, 50 kilometres to the
northwest
- Three multi-kilometer scale copper-mineralized target areas at
the West Graben, East Graben and Northeast Fault targets
- Chip sample results of 1.56% copper and 1.4 g/t silver over
4.6 metres; grab sample results that include; 2.80% copper and 37.8
g/t silver, 1.53% copper and 24.2 g/t silver, 3.79% copper and 1.9
g/t silver
About the Klondike Project
The Klondike project is located approximately 25 kilometres
south of Naturita, Colorado. This property lies within the Paradox
Copper Belt, which includes the producing Lisbon Valley Mining
Complex. Numerous historical copper occurrences have been
identified throughout the district, however, many of these have not
been explored using modern exploration techniques.
At Klondike, documented copper exploration ceased in the 1960s
with subsequent exploration targeting uranium the 1970s. Previous
workers reported high-grade copper mineralization highlighted by
results of 6.3% copper and 23.3 g/t silver in outcrop. In addition
to its high-grade potential, disseminated copper-silver
mineralization has been observed which may be amenable to modern
open pit mining with Solvent Extraction Electro Winning ("SXEW")
processing similar to the Lisbon Valley Mining Complex. Sedimentary
hosted copper deposits are an important contributor to world copper
production, accounting for more than 20% of the world's copper
supply annually.
Figure 1. Klondike Property Location Map
Figure 2. Copper Results Map
Table 1: Klondike surface rock sampling results.
EGF: East Graben Fault, WGF: West Graben Fault, NEF: Northeast
Fault
Klondike is located at the southeast end of a gypsum salt
anticline in a similar structural setting as Lisbon Valley. Copper
mineralization occurs in bleached and altered, porous and
permeable, sandstone units adjacent to small graben-bounding normal
faults. Copper mineralization in outcrop includes malachite,
azurite, chalcocite and black copper oxides.
Of the samples reported from a limited historical prospecting
and mapping program, 11 out of 15 returned assays ranging from 0.12
to 6.3% copper and below detection to 85.4 g/t silver.
Additionally, disseminated copper-silver mineralization has also
been identified in outcropping sandstones of Jurassic and Permian
age. Sampling completed during the current program further defined
copper silver mineralization along the West and East Graben Fault
targets including: 2.80% copper and 37.8 g/t silver, 1.53% copper
and 24.2 g/t silver and 6.23% copper and 127 g/t silver.
The project is road accessible year-round, traveling two
kilometres of gravel road from paved highway. The project is
comprised of 76 mining claims on Federal mineral rights managed by
the BLM, in addition to an Exploration Permit and an exclusive
right to a State lease from the State of Colorado.
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.
-S-
For additional information please contact:
Cloudbreak Discovery Tel: +1 604 428 9480
PLC
Kyler Hardy, CEO khardy@cloudbreakdiscovery.com
Henrik Mikkelsen, VP hmikkelsen@cloudbreakdiscovery.com
Corporate Development
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
Blytheweigh Tel: +44 207 138 3204 Cloudbreak@blytheweigh.com
(Financial PR/IR-London)
Tim Blythe
Megan Ray
Stellium Services Tel: +44(0)207 129 Cloudbreak@StelliumServices.com
(Investor Relations) 1205
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.
About Alianza Minerals Ltd.
Alianza employs a hybrid business model of joint venture funding
and self-funded projects to maximize opportunity for exploration
success. The Company currently has gold, silver and base metal
projects in Yukon Territory, British Columbia, Colorado, Nevada and
Peru. Alianza currently has one project (Tim, Yukon Territory)
optioned out to Coeur Mining, Inc. and is actively seeking partners
on other projects.
The Company is listed on the TSX Venture Exchange under the
symbol "ANZ" and trades on the OTCQB market in the US under the
symbol "TARSF".
About the Strategic Alliance
Under the terms of the Alliance, either Cloudbreak Discovery Plc
or Alianza Minerals Ltd can introduce projects to the Strategic
Alliance. Projects accepted into the alliance will be held 50/50
but funding of the initial acquisition and any preliminary work
programs will be funded 40% by the introducing partner and 60% by
the other party. Project expenditures are determined by committee,
consisting of two senior management personnel from each party.
Alianza is the operator of alliance projects unless the Alliance
steering committee determines, on a case-by-case basis, that
Cloudbreak would be a more suitable operator. The initial term of
the Alliance runs for two years and may be extended for an
additional two years.
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