Posts Tagged Cloudbreak Resources

Alix and Cloudbreak do an Airborne Survey in the Yukon

Alix Resources Corp. and Cloudbreak Resources Ltd. have contracted Precision GeoSurveys Inc. of Vancouver, B.C., to conduct a low-level, multisensor airborne geophysical survey over the 25 recently acquired Yukon “Strike” gold claims. The property will be flown at 100-metre spacings for survey lines and 1,000-metre spacings for tie lines.

A high-sensitivity magnetometer system will assist in interpreting bedrock units, structure and alteration. The radiometric system will consist of a multichannel spectrometer with state-of-the-art design to map rock units and alteration patterns.

The companies are also awaiting results from the lab on approximately 2,000 samples taken from various locations on the companies’ more than 300 claim blocks in the White Gold area.

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Alix and Cloudbreak Acquire More Land in Yukon’s White Gold District

Alix Resources Corp. and Cloudbreak Resources Ltd. have increased their land position in the vicinity of Underworld Resources Inc.’s white gold discovery in the Yukon by optioning approximately 150 new claims in addition to the approximate 145 claims already held.

Terms of the deal are that Alix and Cloudbreak have committed to a minimum $20,000 ground program on the new ground picked subject to this agreement. For this the vendor will transfer all remaining claims (approximately 45) attached to the recently announced “Lucky” acquisition. This will bring the total “Lucky” claims to approximately 170. Upon performing the required work program, the companies then will have the option to acquire the two new claim blocks consisting of an 88-claim block and a 25-claim block by issuing to the vendor, Mr. Blair Naughty, one million shares of Alix Resources and 1.25 million shares from Cloudbreak; $37,500 from each company; a 3 per cent NSR with one per cent purchasable for $1-million at any time plus commit to spend $250,000 in year one.

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Alix and Cloudbreak Complete First Phase of Work in White Gold District

Alix Resources Corp. and Cloudbreak Resources Ltd. have completed the first phase of exploration on their joint venture claims immediately east of Underworld Resources’ White Gold discovery in the Yukon Territory south of Dawson City. 288 soil samples from 344 stations and 28 rock-chip samples, including several from quartz and quartz-potassium feldspar veins, were collected from the prospect. The companies are now awaiting laboratory analyses of the samples prior to beginning the second phase of work on the property later this summer.

Much of the claim block is contained within a recent forest-fire burn area, resulting is less permafrost development and more rock exposure than found in adjacent areas. “Our soil sampling coverage was better than we had anticipated that it would be and the rock sampling was simply an unexpected bonus. We also now have a decent first-pass geologic map of the area,” said David Hedderly-Smith, Ph.D., who accompanied the sampling crew and directed the work.

Dr. Hedderly-Smith is a Director of Alix and is a qualified person as defined by N.I. 43-101. He has reviewed and approved the content of this press release.

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Cloudbreak Resources Increases Size of Financing

Cloudbreak Resources Ltd. has increased the current private placement offering from a maximum of five million units to six million units at a purchase price of 6.5 cents per unit for total gross proceeds of up to $390,000. As previously announced, each unit will continue to comprise one common share and one warrant with each warrant entitling the holder to purchase one common share at a price of 10 cents per share for a period of five years from closing.

The company will also increase the private placement of 15 million flow-through units to 17 million flow-through units at a purchase price of 6.5 cents per flow-through unit for total gross proceeds of up to $1,105,000. Each flow-through unit will continue to comprise one common share issued on a flow-through basis and one warrant entitling the holder to purchase one common share at a price of 10 cents per share for a period of two years from closing.

The moneys from the sale of the units will be used for general working capital and for further development of the company’s Canadian properties. The moneys from the sale of the flow-through units will be used for the company’s exploration activities on its Canadian mineral properties.

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Alix and Cloudbreak Acquire More Land in White Gold District, Yukon

Alix Resources Corp. and Cloudbreak Resources Ltd. have collectively acquired a further 125 claims in the vicinity of Underworld’s White Gold discovery in the Yukon.

Alix and Cloudbreak entered into a joint venture agreement to jointly acquire and perform work programs in the White Gold district. These new claims bring the total claim count to approximately 150 claims, or 3,105 hectares, making this land position one of the largest in the vicinity of Underworld’s White Gold discovery of 103 metres of 3.4 grams per tonne gold.

Terms of the deal are: Alix and Cloudbreak shall issue to the vendor, Blair Naughty, 2.5 million shares and $25,000 from each company, issue a 3-per-cent net smelter return royalty with 1-per-cent purchasable for $1-million at any time plus commit to spend $250,000 in year one.

Alix and Cloudbreak are in the process now of performing a systematic geological and geochemical survey of the initial claim block.

It is the intention of the companies to continue surface exploration programs on all the claims with the goal of beginning a drill program this summer.

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Cloudbreak Announces Financing

Cloudbreak Resources is planning to proceed with a non-brokered private placement of up to five million units at a purchase price of 6.5 cents per unit for proceeds of up to $325,000. Each unit shall consist of one non-flow-through common share and one warrant with each warrant entitling the holder to purchase one common shares at a price of 10 cents per share for a period of five years from closing. The company also wishes to announce a non-brokered private placement of up to 15 million flow-through units at a purchase price of 6.5 cents per flow-through unit for proceeds of up to $975,000. Each flow through unit shall consist of one common share issued on a flow-through basis and one warrant entitling the holder to purchase one common share at a price of 10 cents per share for a period of two years from closing. The funds from the sale of units will be used for general working capital and for further development of the company’s Canadian properties. The funds from the sale of flow through units will be used for the company’s exploration activities on its Canadian mineral properties. Finders fees will be payable within the TSX Venture Exchange guidelines. This transaction is subject to the approval of the TSX-V.

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Alix Resources and Cloudbreak Resources Start Fieldwork in the Yukon

Alix Resources and Cloudbreak Resources have commenced fieldwork on their holdings in the Yukon adjacent to Underworld Resources White Gold discovery. A geologic mapping and geochemical soil sampling crew moved into the properties over this past weekend to begin work on the first phase of exploration of the area.

The Alix/Cloudbreak claims are immediately adjacent to the claims controlled by Underworld. The Alix/Cloudbreak claims are six kilometers east and slightly north of Underworld’s Golden Saddle discovery. Analysis of the published regional geologic mapping suggests that the combined area is hosted by similarly aged metamorphic rocks to those at the Golden Saddle discovery.

Work on the Alix/Cloudbreak ground is being directed by David Hedderly-Smith, Ph.D., P.G. who is accompanying the crew in the field. He has done work in similarly aged rocks in east central Alaska, 100 kilometers to the northwest, since the 1970s.

Dr. Hedderly-Smith is a director of Alix, a Qualified Person as defined by N.I. 43-101, and has approved the information in this press release.

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Alix and Cloudbreak to JV in White Gold District

Alix Resources Corp. and Cloudbreak Resources Ltd. have entered into a joint venture agreement with regard to their recent acquisitions in the Yukon. Each company will be responsible for 50 per cent of all expenditures and work programs, and will be joint operators of the combined property.

The lode quartz mineral claims, adjacent to the White gold property held by Underworld Resources Inc. located in the Yukon, have been acquired by both Alix¬† and Cloudbreak. The combined 25 claims total approximately 1,000 hectares, and are tagged directly to the east of Underworld’s White gold project and approximately four kilometres from the recently announced discovery of 103 metres of 3.4 grams per tonne gold.

The companies will continue to seek additional claims in the area.

Alix and Cloudbreak are now arranging to mobilize a field crew to the property as soon as possible to begin a systematic geological and geochemical survey of the claim block. This work will include detailed silt sampling of streams, along with rock and soil sampling and geologic mapping. It is the intention of the companies to begin the surface exploration program as quickly as possible with the goal of beginning a drill program this summer.

The technical contents of this release were approved by Alix advisory board member and qualified person as defined by National Instrument 43-101, Dr. Tom McCandless, PGeo.

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CLOUDBREAK ACQUIRES YUKON PROPERTY ADJOINING UNDERWORLD’S WHITE GOLD PROJECT

Cloudbreak Resources Ltd. has acquired lode quartz mineral claims in the Yukon, located adjacent to the White Gold property held by Underworld Resources. The Cloudbreak claims are located directly to the east of the Underworld Resources Cathy 146 and Cathy 144 quartz mineral claims and approximately four kilometres from Underworld’s recently announced¬†discovery of 103 metres of 3.4 grams per tonne gold. Underworld is exploring sediment-hosted and vein-hosted gold targets at the 169-square-kilometre (845-claim) White Gold property. Cloudbreak’s approximate 500-hectare and Alix’s property have now been completely surrounded by Underworld staking. GSC mapping by Gordey and Ryan indicates that the Cloudbreak claims appear to be underlain by similar metasedimentary stratigraphy as the Underworld White Gold property.

Cloudbreak will pay the vendor, Blair Naughty, $75,000 in cash, 1.25 million shares of Cloudbreak, plus a 3-per-cent net smelter return with an option to buy back 1 per cent of the NSR for $1-million. The company also agrees to spend $250,000 over the next 12 months as a work commitment. This transaction is subject to TSX Venture Exchange approval.

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