Strategic Alliance Makes First Acquisition

RNS Number : 2896F

Cloudbreak Discovery PLC

15 July 2021

 

15 July 2021

Follow the link to read the press release in full, including figures:
http://www.rns-pdf.londonstockexchange.com/rns/2896F_1-2021-7-14.pdf

Cloudbreak Discovery and Alianza Minerals Make First Acquisition Under Southwest US Copper Alliance with Klondike Project, Colorado

Cloudbreak Discovery PLC (LSE: CDL) ("Cloudbreak") and Alianza Minerals Ltd. (TSX-V: ANZ, OTCQB: TARSF) ("Alianza") announce the acquisition of the first project generated from their newly formed Strategic Alliance (the "Alliance"). The Klondike Property ("Klondike"), located in Colorado, United States, consists of 72 Bureau of Land Management ("BLM") claims, a State of Colorado Exploration Permit with an exclusive right to a State Lease.

This Alliance will focus on the identification, acquisition, and advancement of copper projects in the southwestern US specifically Arizona, Colorado, New Mexico and Utah. The two companies anticipate this to be the first of many projects and will continue to identify new copper exploration opportunities to acquire and advance with the intent of finding strong partners to move the projects forward.

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

-  No copper exploration since the 1960s in the area

-  Exploring for additional deposits similar to the operating Lisbon Valley Mine, 50 kilometres ("km") to the northwest

Kyler Hardy, President and CEO of Cloudbreak , reflected on Klondike, stating "We are very excited to investigate the high-grade potential demonstrated by the historical work. We know these rocks are prospective for copper mineralisation as evidenced by other deposits in the belt and the active Lisbon Valley Copper Mine".

Jason Weber, President and CEO of Alianza , noted that "The Klondike property is the first example of the ideas generated out of this alliance and demonstrates the potential we see for additional, bona fide copper prospects in this under-explored region."

About the Klondike Project

The Klondike project is located approximately 25 km south of Naturita, Colorado. This property lies within the Paradox Copper Belt, which includes the producing Lisbon Valley Copper Mine. There are numerous historical copper occurrences that 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 during the 1970s. Previous workers reported high-grade copper mineralisation highlighted by results of 6.3% copper and 23.3 grams per tonne ("g/t") silver in outcrop. In addition to its high-grade potential, disseminated copper-silver mineralisation has been observed which may be amenable to modern open pit mining with Solvent Extraction Electro Winning ("SXEW") processing similar to the Lisbon Valley Mine. Sedimentary-hosted copper deposits are an important contributor to world copper production, accounting for more than 15% of the world's copper supply annually.

Figure 1. Klondike Property Location Map

Klondike is located at the southeast end of a gypsum salt anticline in a similar structural setting as Lisbon Valley. Copper mineralisation occurs in bleached and altered, porous and permeable, sandstone units adjacent to small graben-bounding normal faults. Copper mineralisation in outcrop includes malachite, azurite, chalcocite and black copper oxides.

Surface sampling of mineralised outcrops along the graben faults has yielded assay results up to 6.3% copper and 23.3 g/t silver. Eleven out of 15 samples reported from a limited historical prospecting and mapping programme returned assays ranging from 0.12 to 6.3% copper and below detection to 85.4 g/t silver. Additionally, disseminated copper-silver mineralisation has also been identified in outcropping sandstones of Jurassic and Permian age. Both styles of mineralisation will be investigated in upcoming work programs with the goal of refining drill targets in these units. Initial work will include detailed geological mapping, soil and rock sampling, and geophysics. 

 

Table 1 - Klondike prospect, samples 1999 JPT
Assays by Intertek Bondar Clegg # R99-10390.0 and #R99-10389.0
Sample	Ag	Cu	Cu	Pb	Zn	As	Co	Ba	Cr	V
number	ppm	ppm	%	ppm	ppm	ppm	ppm	ppm	ppm	ppm
K 9	0.3	-	1.3	86	19	50	1	182	380	54
K 10	3.2	-	2.3	257	77	8	11	567	36	1950
K 11	16.7	5119	-	50	56	45	1	>2000	254	206
K 13	4.5	5137	-	43	27	<5	9	>2000	231	46
K 14	23.3	-	6.3	790	82	129	29	>2000	382	770
K 16	0.8	2442	-	21	31	<5	2	426	574	103
K 17	28.5	4295	-	34	52	25	4	268	131	96
K 18	85.4	3282	-	32	29	20	2	563	253	1590
K 19	<0.2	-	4.1	357	88	<5	68	1104	262	959
K 20	<0.2	1151	-	161	36	<5	9	644	187	612
K 21	3.7	7342	-	23	23	<5	5	1092	210	97
K 22	<0.2	113	-	15	9	<5	3	840	152	54
K 23	<0.2	603	-	42	43	6	1	>2000	325	98
K 24	<0.2	73	-	32	9	7	1	714	145	51
K 25	<0.2	30	-	33	124	<5	3	466	1412	54

The project is year-round road accessible, traveling 2 km of gravel road from paved highway. The project is comprised of 72 mining claims on Federal mineral rights managed by the BLM, in addition to an Exploration Permit with an exclusive right to a State Lease from the State of Colorado.

Alianza and Cloudbreak expect to commence exploring on the property imminently.

-ENDS-

For additional information please contact:

Cloudbreak Discovery PLC	Tel: [phone]
	Kyler Hardy, CEO		[e-mail]
	Henrik Mikkelsen, VP Corporate Development		[e-mail]
Novum Securities Financial Adviser and Broker	Tel: [phone]
	David Coffman / Lucy Bowden Colin Rowbury
Blytheweigh (Financial PR/IR-London)	Tel: [phone]		[e-mail]
	Tim Blythe
	Megan Ray
Stellium Services (Investor Relations) www.stelliumservices.com	Tel: [phone] [phone]		[e-mail]
	Andrew Wilson
	Claire Bowden

For further information, contact: 

Jason Weber, President and CEO Sandrine Lam, Shareholder Communications Tel:  [phone]  Fax: [phone] Renmark Financial Communications Inc. Melanie Barbeau [e-mail] Tel: [phone] or [phone] www.renmarkfinancial.com To learn more visit:www.alianzaminerals.com

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 the 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. 

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 a copper exploration alliance in the southwestern United States with Cloudbreak Discovery PLC. Alianza also is 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.

 

END

 

 

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