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    • Investing

    Option to acquire 888km2 Au/Cu project in WA

    • September 3, 2025

    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 888km2 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 888km2 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: 17m @ 1.6% Cu, 317ppm Mo from 84m (87WDRC2) Including 9m @ 2.6% Cu, 456ppm Mo 9m @ 2.0% Cu, 0.14g/t Au, 272ppm Mo from 84m (87WDRC6) Including 5m @3.1% Cu, 0.20g/t Au, 430ppm Mo 11m @ 1.5% Cu, 0.10g/t Au, 181ppm Mo from 83m (87WDRC8) Including 7m @ 2.1% Cu, 0.15g/t Au, 250ppm Mo 13m @ 1.1% Cu, 0.29g/t Au from 107m (87WDRC14) Including 6m @ 2.0% Cu, 0.27g/t Au 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

    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) Including 9m @ 2.6% Cu, 456ppm Mo 9m @ 2.0% Cu, 0.14g/t Au, 272ppm Mo from 84m (87WDRC6) Including 5m @3.1% Cu, 0.20g/t Au, 430ppm Mo 11m @ 1.5% Cu, 0.10g/t Au, 181ppm Mo from 83m (87WDRC8) Including 7m @ 2.1% Cu, 0.15g/t Au, 250ppm Mo 13m @ 1.1% Cu, 0.29g/t Au from 107m (87WDRC14) Including 6m @ 2.0% Cu, 0.27g/t Au 8m @ 0.7% Cu, 310ppm Mo from 98m (87WDRC7) 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 888km2.

    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

    Tom Evans, Managing Director

    Tel: +44 207 887 6139

    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


    Source

    This post appeared first on investingnews.com

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