Cloudbreak Discovery shares rocketed higher on Thursday after announcing early results from gold exploration activities in Western Australia.
Cloudbreak Discovery has reported what it calls ‘very encouraging results’ from its inaugural gold sampling programme at the Darlot West Gold Project.
Shares in the company were over 150% higher after Cloudbreak said maiden exploration work had yielded gold grades significantly above expectations.
Surface rock chip sampling across four distinct prospect areas has returned multiple significant results, with the highest grade reaching 28.62 grammes per tonne of gold. A repeat assay of this sample confirmed the exceptional nature of the find, returning an even higher grade of 34.15g/t Au.
Other notable results from the programme include grades of 4.50g/t, 2.62g/t, and 1.30g/t gold. These findings demonstrate consistent mineralisation across multiple areas within the project.
The Darlot West project sits just 10 kilometres southwest of the renowned Darlot Gold Mine, which has produced 2.8 million ounces of gold to date.
“These gold results from our initial field trip and the investigation, carried out as part of the Company’s due diligence on the tenement, are exceptionally good. Getting results approaching an ounce of gold per tonne are not common and are much better than we had expected,” said Tom Evans, Cloudbreak’s MD.
“An exploration programme is being planned to further understand the extent of gold mineralisation and the areas gold ounce potential. We look forward to providing further updates with respect to additional exploration to be completed.”