Cloudbreak Resources Focuses on Saskatchewan Coal and Alberta Potashadmin
July 31, 2008 Filed Under: Coal Mining, Potash Mining
President Blair Naughty reports that Cloudbreak Resources has terminated its agreements with Valhalla Resources in Turkey and Romania, as well as the joint venture agreement the company had with Kokanee Placer in Nevada. The company plans on focusing solely on the numerous Saskatchewan Coal claims it has applied for, as well as the Alberta Potash claims.
Cloudbreak Resources, to date, has applied for 40 townships in Saskatchewan, totaling more than 900,000 acres. 36 of these townships are the northwest of the original Goldsource discovery, and 4 of these townships are to the North. To date, the company has received 4 comfort letters and expects another 15.5 townships to be responded to in the very near future.
Goldsource, which made the original coal discovery in Saskatchewan, reports that its Pasquia drill hole BD08-02 was drilled approximately three kilometers to the northwest of initial discovery hole BD08-03 and encountered a coal intercept of 23.2 meters between 81.6 meters and 104.8 meters. Goldsource hole BD08-04, located approximately 2.5 kilometers south of BD08-01, intersected approximately 8.3 meters of carbonaceous mudstone, minor coal seams and sand partings at the base of the overburden from 28 meters to 36.3 meters.
The company has been informed by the Alberta Government offices that the potash claims applied for (approximately 775,000 acres) may take up to another 6 weeks due to staff shortages, training of new staff, and vacations within the department.
President Blair Naughty states, “We are very pleased with the latest drill hole that Goldsource has released. The board, with direction from Marvin Mitchell, believed the trend was northwest and staked a large parcel of land along that trend. Cloudbreak is now one of the top land holders in the Northwest if all the permits are processed that were applied for.”
The company website is being fully revamped to reflect the recent developments and should be updated fully in the coming weeks. No maps of the coal dispositions can be obtained at this point due to the rules set forth by the Saskatchewan Ministry.
Contacts: Cloudbreak Resources Ltd. Blair Naughty President & Director
Cloudbreak Resources Ltd. Rich Macey (604) 669-0401 (604) 669-0414 (FAX) Email: firstname.lastname@example.org