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Share Name Share Symbol Market Type Share ISIN Share Description
Cloudbreak Discovery Plc LSE:CDL London Ordinary Share GB00B44LQR57 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.10 2.99% 3.45 3.40 3.50 3.60 3.45 3.50 1,357,898 15:40:12
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 4.0 -0.9 -0.9 - 17

Imperial X Plc Magnetic Survey Completed & Board Changes

17/06/2021 7:00am

UK Regulatory (RNS & others)


 
TIDMCDL 
 
17 June 2021 
 
                                Imperial X PLC 
 
                         "Imperial X" or the "Company" 
 
                  Soon to be renamed Cloudbreak Discovery PLC 
 
       Airborne Magnetic Survey Completed on the South Timmins Property 
 
                                 Board Changes 
 
Imperial X PLC (LSE: CDL), the natural resource project generator, is pleased 
to announce that it has completed a high-resolution helicopter-borne 3-axis 
gradient magnetic survey for its South Timmins Project. 
 
The South Timmins Project is one of 10 projects currently held by the Company 
and is a gold prospect located in Ontario, Canada, in the Abitibi Greenstone 
Belt. The Abitibi is the largest, most prolific greenstone belt in the world 
with 190 million ounces ("Moz") of gold produced and counting. 
 
The survey data is currently being compiled and processed. The results of the 
survey will assist in identifying potential targets and trends for follow up 
exploration work. The Company will release the results when available. 
 
The South Timmins project was staked in late 2020 as a 50:50 co-venture with 
Vector Geological Solutions Inc. and is an excellent representation the 
Company's ability to source, secure and then commence early-stage exploration 
work to establish a value model for the project and Cloudbreak shareholders. 
 
Kyler Hardy, CEO of Imperial X, commented, "We are pleased to continue the 
successful execution of our exploration and business model efficiently and will 
now follow up on the new data findings through further modeling and surface 
exploration. We look forward to updating the market on South Timmins as this 
exciting project develops." 
 
The South Timmins project is located 40 kilometres ("km") south of the main 
Timmins mining camp, which has produced over 70 Moz to date and is home to more 
than 50 mining companies, and 40 km west of the Young-Davidson project, a mine 
that commenced production in 1934 and hosts a current reserve of 3.2 Moz. The 
property contains iron formation and mafic-felsic volcanic transitions, which 
are favourable host rocks for orogenic lode gold and volcanogenic massive 
sulphide deposit. Government data has been used to identify several prospective 
lineaments on the property which may represent gold prospective damage zones. 
Historic exploration work on the property is limited, however, rock samples 
with >200 ppb gold along one of the contacts between the mafic and felsic 
volcanic rocks on the property have been identified. 
 
Board Changes 
 
Melissa Sturgess has resigned as a Director of the Company with immediate 
effect due to increased commitments on several other projects. The Board of 
Directors would like to thank Ms. Sturgess for her contribution and assistance 
in getting the Company listed and wish her good luck in her future endeavors. 
The Company has begun searching for a new Director who will provide appropriate 
guidance and experience for Cloudbreak to execute its business plan. 
 
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). The directors of 
Imperial X PLC accept responsibility for this announcement. 
 
For additional information please contact: 
 
Imperial X PLC            Tel: +1 604 428 9480 
 
                          Kyler Hardy, CEO          khardy@cloudbreakdiscovery.com 
 
                          Kyle Hookey, Director     khookey@cloudbreakdiscovery.com 
 
Novum Securities          Tel: +44 7399 9400 
Financial Adviser and 
Broker 
 
                          David Coffman / Lucy 
                          Bowden 
                          Colin Rowbury 
 
Blytheweigh               Tel: +44 207 138 3204     Cloudbreak@blytheweigh.com 
(Financial PR/IR-London) 
 
                          Tim Blythe 
 
                          Megan Ray 
 
About Imperial X 
 
Imperial X PLC, which will change its name to Cloudbreak Discovery PLC as soon 
as practicable, is a leading natural resource project generator, working across 
a wide array of mineral assets that are being developed and managed by an 
experienced team with a proven track record. Value accretion within the 
projects being developed by Cloudbreak's generative model enables a multi asset 
approach to investing. Diversification within the mining sector and amongst 
resource classes is key to withstanding the cycles of natural resource 
investing. 
 
About Vector Geological Solutions Inc. 
 
Vector Geological Solutions Inc. is a geological consultancy that specializes 
in exploration project opportunity recognition, project acquisition and project 
advancement.  Vector Geological Solutions Inc. provides technical geological 
support to junior and mid-tier exploration and mining companies with projects 
in North America, South America, Europe and Scandinavia. 
 
About Precision GeoSurveys Inc. 
 
Precision GeoSurveys Inc. specialises in low level airborne geophysical surveys 
in mountainous terrain to support the following activities: Mineral 
exploration, diamond exploration, uranium exploration, oil & gas exploration, 
ground water investigations, geophysical applications, geothermal mapping, 
radioisotope detection and mapping, unexploded ordnance (UXO) mapping, 
geotechnical, cultural and engineering investigations. 
 
 
 
END 
 
 

(END) Dow Jones Newswires

June 17, 2021 02:00 ET (06:00 GMT)

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