Cloudbreak Discovery hails 'significant potential' of Darlot West
Cloudbreak Discovery PLC on Friday said planning is underway for drilling at two assets in Western Australia.
Shares in the company rose 12% to 0.48 pence each in London on Friday afternoon.
The gold and metals project developer planning is underway for an initial 3,000 to 5,000 metre drilling programme at the Darlot West gold project.
The Western Australia-focused firm said a programme of work application has been submitted to the state’s Department of Mines, Petroleum & Exploration. It expects the programme of work to be approved in the ‘coming weeks’.
‘The company believes there is very significant potential for this project to host significant gold mineralisation similar to that found at the Darlot gold mine, located only 10km to the northeast,’ Cloudbreak said.
At the Crofton project, meanwhile, it said ‘planning for more extensive surface geochemical’ programmes is underway. The work is expected to kick off after the wet season finishes in April.
‘Initial sampling work was focused on areas of historically reported gold mineralisation where grades of up to 253 [grammes per tonne of gold] have been historically reported. This work confirmed historical grades,’ Cloudbreak said.
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