Cloudbreak Discovery PLC (LSE:CDL) (Cloudbreak Discovery PLC (LSE:CDL)) Kyler Hardy talks to Proactive London about acquiring the Stateline Property in the US, consisting of 22 unpatented mining claims from local prospectors, for US$20,000 in cash and a further US$40,000 in cash and/or shares.
This was done with partner Alianza Minerals Ltd (TSX:ANZ) (Alianza Minerals Ltd (TSX:ANZ)), the project covers the state boundary between Utah and Colorado and lies within the Paradox copper belt, which includes the producing Lisbon Valley Mine Complex (LVMC).
The mineralisation and host rocks bear a strong resemblance to those at LVMC, they said. Numerous historical copper occurrences have been identified throughout the belt, although many have not been explored using modern exploration techniques.