Cloudbreak Discovery PLC (LSE:CDL) said it has engaged Precision GeoSurveys to conduct high-resolution helicopter-borne magnetic surveys over its Northwestern Portfolio, comprised of the Northern Treasure, Rizz, Icefall and Atlin West projects, in British Columbia, Canada.
The primary goal of the surveys is to identify prominent, potentially mineralised structures and to help determine targets for ground-based exploration.
“We are delighted to commence this phase programme on the Northwestern Portfolio, which covers a number of promising polymetallic mineral occurrences,” said president and chief executive Kyler Hardy.
Cloudbreak said it was attracted to the region due to the absence of historic ground-based exploration work.
Power Group Projects Corp, a Toronto-based mining company, will finance the surveys on the Rizz, Icefall, and Atlin West projects, under the terms of various options agreements, while Cloudbreak will finance the Northern Treasure survey as it remains open for option.
“Northern Treasure, our remaining project we staked in 2021, will benefit from the survey to guide the next phase and generate further interest from potential partners," Hardy said.