London-listed mining project specialist Cloudbreak Discovery (LSE:CDL) has provided the market with an update on the programmes at five recently staked Northwestern British Columbian polymetallic projects, where exploration recently commended. This will represent the first field work Cloudbreak will conduct on these projects.
It also updated the market on progress at its Klondike Project, which is located in Colorado, USA, of which more below.
“We are delighted to get boots on the ground in Northwestern BC,” said Kyler Hardy, CEO of Cloudbreak Discovery. “Our work programme will follow up on under-explored and recently exposed outcrops identified in our desktop studies. We look forward to deepening our understanding of these projects and attracting new partners to advance them.”
The Northwest Portfolio is located between the Yukon border and the community of Telegraph Creek and along the border with the Alaskan Pan-Handle
The projects are in the early stages, with limited work conducted over the last 30 years. More recently there has been considerable glacial pull back which has revealed previously covered and unexplored ground and outcrops to examine in further detail. The exploration programme will consist of mapping and prospecting, with a particular focus on structural interpretation and locating historic showings.
Update on the Klondike Project
Cloudbreak has also provided the market with the following update on the Klondike Project, the first project staked with Alianza Minerals Ltd. (TSXV:ANZ) through the Strategic Copper Alliance.
At the property, located in Colorado, USA, the field crews have conducted a 10-day mapping and prospecting programme with a focus on the northeast portion of the claim block. The programme was designed to allow the team to further constrain the geology and to assist in defining possible drill collar locations. Samples have been sent to the laboratory for analysis and the mapping will be compiled and interpreted in the coming months.
Northern Treasure Project
The Northern Treasure Project is located approximately 100 kilometres south of Atlin and immediately adjacent to Brixton’s Thorn Project. The project is comprised of two claims northeast and southwest from each other and totals 29,580 hectares.
The property geology is favourable to host porphyry, volcanic massive sulphide (VMS), high-sulphidation and stockwork vein and sediment-hosted deposit types. These deposit types can contain copper, gold, silver and zinc. The claims are underlain by Stuhini Group volcanic and sedimentary rocks with Sloko-Hyder plutonic suite.
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The Yak Project
The Yak Project is underlain by the southern margin of the Bennet Lake Caldera, with an eroded structural dome and thick successions of pyroclastic and epiclastic, Eocene age, Skukum group volcanic rocks. Cretaceous coast plutonic suite granodiorites and quartz monzonites noted in the area as well. The geologic setting is favourable for low-sulphidation epithermal gold-silver veins or mesothermal lode gold.
Mineralisation observed on the property to date consists of multiple quartz veins of varying widths between 0.5 metres and five metres, containing galena, sphalerite and chalcopyrite.
An analogous target is the Skukum Gold Project which appears to contain both styles of mineralisation.
Within the project there is the Skukum Creek deposit which contains an indicated resource of one million tonnes at 5.85 grammes per tonne of gold and 166.4 grammes per tonne of silver (gold equivalent of 7.75 grammes per tonne) and an Inferred Resource of 537,000 tonnes at 4.99 grammes per tonne of gold and 108.3 grammes per tonne of silver (gold equivalent of 6.22 of grammes per tonne).
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Additionally, the Goddell deposit contains an indicated resource of 329,700 tonnes at 8.13 grammes per tonne of gold and an inferred resource of 483,900 tonnes at 7.13 grammes per tonne gold.
The Atlin West Project
The Atlin West Project is underlain by undivided sedimentary and volcanic rocks of the Cache Creek Complex, which have been subsequently intruded by late Cretaceous felsic volcanic and intrusive rocks. The area is bounded by the Nahlin fault and cross-cut by east-west and northwest trending faults.
These structures are known to be associated with base and precious metals in the region. Mineralisation on the property includes the Dundee/Table Mountain showing, which is comprised of northeast trending veins with galena and chalcopyrite, assaying 2.58 ounces per tonnes of silver, 26% lead and 13.9% copper in 1967. Limited work has been reported on the property and additional exposures are as yet untested as glacial recession has progressed in the past several decades since this work was last conducted.
The Icefall Project
The Icefall Project is underlain by Stuhini and Labarge Group volcanic and sedimentary rocks, overlain by Sloko Group volcanic rocks. The granitic intrusions have been mapped on the northern and southern bounds of the claim block, which covers 8,704 hectares. The property is bounded between the Llewellyn fault to the west and King Salmon fault to the east with several north-trending structures noted on the property.
Historic work has highlighted several showings near the southern claim boundary contain historic sample results of 35.5 grammes per tonne of silver and 0.5% copper.
The Rizz Project
The Rizz Project is 5,415 hectares of mineral titles in northwestern BC, situated in the Boundary Ranges Metamorphic Suite and Sloko Group plutonic and volcanic rocks, west of the Llewellyn fault.
To date, mineralisation is documented in the Sloko-Hyder plutonic suite with several gossanous zones identified for immediate follow up now that field work has commenced. The known mineralisation on the property is described as sulphide-rich felsite boulders and talus in one of the cirques.
Previous assay results from samples indicate mineralisation including 27.6 grammes per tonne of gold, 562.9 grammes per tonne of silver, 8.25% lead and 15.9% zinc. Cloudbreak’s follow-up work at the Rizz Project will also include exploring for the source of this strongly mineralised float material.
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 copper mine.
Previous workers reported high-grade copper mineralization highlighted by results of 6.3% copper and 23.3 grammes per tonne of silver in outcrop. In addition to its high-grade potential, disseminated copper-silver mineralisation may be amenable to modern open pit mining with Solvent Extraction Electro Winning processing similar to the Lisbon Valley Mine.
Sedimentary hosted copper deposits are an important contributor to world copper production, accounting for more than 20% of the world’s copper supply annually. The project is road accessible, covering 843 hectare of Paradox basin sedimentary package in San Miguel county, Colorado.