Cloudbreak Discovery PLC (LON:CDL) said its strategic alliance with Alianza Minerals Ltd (TSX-V:ANZ) acquired its first project, the Klondike Property in Colorado, US.
The company said Klondike is an 843-hectare property covering the Paradox basin sedimentary package in San Miguel County and is known to host sediment-hosted copper deposits in the emerging Paradox Copper Belt.
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"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", Cloudbreak president and chief executive Kyler Hardy said in a statement.
The alliance between Cloudbreak and Alianza is focused on the identification, acquisition, and advancement of copper projects in the southwestern US specifically Arizona, Colorado, New Mexico and Utah.
The firm said Klondike is anticipated to be the first of many projects and that it will continue to identify new copper exploration opportunities to acquire and advance.