Cloudbreak Discovery (LSE:CDL) has been awarded a co-funded geophysics grant of up to $269,270 under Western Australia’s EIS to support a MobileMT survey across its 888km² Paterson Project, a package 40km from the Telfer gold‑copper mine.
Cloudbreak, a small cap explorer focused on projects in Western Australia, said the grant covers part of a $438,540 project cost, with the government funding 50% and an additional one‑off payment of up to $50,000 towards the program.
The planned MobileMT programme comprises approximately 2,771 line kilometres at 400m spacing, to be flown by Expert Geophysics using its MobileMT AFMAG heliborne system with interpretation by Russell Mortimer of Southern Geoscience Consultants.
MobileMT maps subsurface resistivity over a broad frequency range and is intended to image deep structure, conductors and resistors beneath significant cover to refine existing Cu‑Au‑Mo targets and highlight new drill priorities.
“The survey represents a significant step forward in systematically unlocking the potential of our 888km² landholding,” Tom Evans, Managing Director.
Cloudbreak said the grant materially reduces shareholder cost and that the company remains fully funded for planned exploration, with the survey scheduled to be flown in the coming months.
