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Prince Silver: Advancing the Large-scale Prince Silver Project in Nevada
Prince Silver (CSE:PRNC,OTC:HWTNF) is a Vancouver-based exploration company advancing the Prince Silver project in southeastern Nevada. In July 2025, the company completed the transformational acquisition of Stampede Metals Corporation and rebranded from Hawthorn Resources to Prince Silver Corp. The flagship Prince project is a district-scale, past-producing silver-gold-zinc-manganese carbonate replacement system, historically mined for silver and base metals in the early to mid-1900s.
Aerial view of the Prince silver projectFully funded and technically refreshed, the company’s near-term priority is to validate and build upon the 129 historic drill holes (over 16,600 m) completed on the property, with the goal of converting the large JORC-compliant exploration target into a maiden NI 43-101 mineral resource.
A drill program is scheduled to begin in early September 2025, targeting the validation of legacy data, step-outs along mineralized trends, and continuity across the deposit’s multiple mantos, veins, and breccia zones. In parallel, the company will undertake metallurgical test work, geophysical refinement, and updated geological modeling to support a modern pit-constrained resource and underpin a longer-term development strategy.
Company Highlights
- Flagship project: 100 percent ownership of the historic Prince silver mine in Lincoln County, Nevada, an open, near-surface silver-gold-zinc carbonate replacement deposit with a 25 to 43 Mt exploration target and strong historic grades.
- The company’s second project, Stampede Gap, is about 15 km north west of the Prince mine. Stampede Gap is a large porphyry copper-gold-molybdenum with an extensive alteration zone that presents a deep seated exploration target.
- Clean corporate reset: Hawthorn Resources completed the Stampede Metals acquisition and re-listed as Prince Silver Corp. on July 11, 2025, issuing 15 million shares for the acquisition and raising ~C$4 million in gross proceeds to fund drilling.
- Fully funded summer drill program: ~6,500-m reverse-circulation set to begin early Sept 2025 to validate historic holes and step out along strike/dip to expand known mineralization and potential resources. .
- Tight share structure: 45.9 million shares outstanding post-financing; Stampede shareholders voluntarily locked-up for 12 months.
- Experienced, hands-on leadership: President Ralph Shearing, plus new directors Robert Wrixon and Darrell Rader, add mine-building, corporate and capital-markets depth to the company’s leadership team.
This Prince Silver profile is part of a paid investor education campaign.*
Click here to connect with Prince Silver (CSE:PRNC) to receive an Investor Presentation
Option to acquire 888km2 Au/Cu project in WA
- The Paterson Project covers 888km2 of granted Exploration tenure, 40km south west of Greatland Gold Plc's (GGP London and ASX) Telfer Gold Copper Mine. Telfer has produced 15Moz of gold and combined with Havieron hosts a total of 10.2Moz Au in resources.
- Drilling last completed in 1987 with multiple significant drilling intercepts including:
- 17m @ 1.6% Cu, 317ppm Mo from 84m (87WDRC2)
- Including 9m @ 2.6% Cu, 456ppm Mo
- 9m @ 2.0% Cu, 0.14g/t Au, 272ppm Mo from 84m (87WDRC6)
- Including 5m @3.1% Cu, 0.20g/t Au, 430ppm Mo
- 11m @ 1.5% Cu, 0.10g/t Au, 181ppm Mo from 83m (87WDRC8)
- Including 7m @ 2.1% Cu, 0.15g/t Au, 250ppm Mo
- 13m @ 1.1% Cu, 0.29g/t Au from 107m (87WDRC14)
- Including 6m @ 2.0% Cu, 0.27g/t Au
- 8m @ 0.7% Cu, 310ppm Mo from 98m (87WDRC7)
- Including 1m @ 3.3% Cu, 0.22g/t Au, 560ppm Mo
- 17m @ 1.6% Cu, 317ppm Mo from 84m (87WDRC2)
- Historic exploration looking for copper not gold
- Significant drilling intercepts are shallow and can be targeted using RC drilling
- Multiple geophysical targets identified which are yet to be drill tested
- Targets associated with magnetic lows and gravity highs
- Mobile MT, a technique utilised by industry players and the Telfer Mine in the Paterson Province, to be used over the Paterson Project area
- The Paterson Project also surrounds the Kintyre Uranium Project owned by global major Cameco Corp. Kintyre hosts a total indicated resource of 53.5Mlb U3O8
Tom Evans, Cloudbreak's MD, commented; "I am excited and delighted we have been able to secure exclusivity on this fantastic opportunity to acquire this asset, in a jurisdiction with significant activity and recent proven success. Located only 40km southwest of the Telfer Gold-Copper Mine operated by Greatland Gold Plc.
Technological advances in geophysics since the 80's have improved greatly with the success of Mobile MT in the Paterson Province, we intend to start off with this geophysical survey, to use as another vector and data layer to refine and rank drill targets not only for copper but for gold as well.
I am excited, for the Company and its shareholders, as we progress this great opportunity and I look forward to updating the market as our exploration programs progress."
Location
The Paterson Project (Figure 1) directly surrounds the Kintyre Uranium Deposit and is located 40km south-south-west of Greatland Gold Plc's Telfer Gold-Copper Mine.
Figure 1: Location Plan
Exploration Completed
The Wanderer Prospect (Figure 2 and 3) was drilled between 1987 and 1990 by CRA (at significantly lower prevailing copper and gold prices) as part of its uranium exploration expenditure across its nearby Kintyre Project. The majority of drilling was only drilled to 100m from the surface, with multiple holes logged as ending in mineralisation. No follow‐up drilling has occurred in the 35 years since then. Forty-two drill holes were drilled at the Wanderer Prospect on E45/5358 tenement.
Multiple significant drilling intercepts include:
- 17m @ 1.6% Cu, 317ppm Mo from 84m (87WDRC2)
- Including 9m @ 2.6% Cu, 456ppm Mo
- 9m @ 2.0% Cu, 0.14g/t Au, 272ppm Mo from 84m (87WDRC6)
- Including 5m @3.1% Cu, 0.20g/t Au, 430ppm Mo
- 11m @ 1.5% Cu, 0.10g/t Au, 181ppm Mo from 83m (87WDRC8)
- Including 7m @ 2.1% Cu, 0.15g/t Au, 250ppm Mo
- 13m @ 1.1% Cu, 0.29g/t Au from 107m (87WDRC14)
- Including 6m @ 2.0% Cu, 0.27g/t Au
- 8m @ 0.7% Cu, 310ppm Mo from 98m (87WDRC7)
- Including 1m @ 3.3% Cu, 0.22g/t Au, 560ppm Mo
Figure 2: Wanderer Prospect Drill Section
Figure 3: Wanderer Prospect- Drill Collar Plan and Mineralised Trend
Deal Terms
Cloudbreak has paid a A$20,000 option fee to secure two months exclusive due diligence across the Paterson Project. If Cloudbreak elects to proceed, it can acquire a 90% interest in the project via the issue of 330,000,000 shares to Mammoth Minerals Ltd (ASX:M79, "Mammoth"). Mammoth is to retain a 10% free carried interest in the Project until the completion of a Definitive Feasibility Study with a positive NPV.
Tenure
The Project consists of three granted exploration licences E45/5358, E45/5391 and E45/6244 covering a land area of 888km2.
The ground is contiguous to the west, of the Cottesloe base-metal project held by Wishbone Gold Plc.
Regional Geology
The Paterson Orogen is a 2,000km long arcuate belt of folded and metamorphosed sedimentary and igneous rocks that range in age from predominantly Palaeoproterozoic to Neoproterozoic with limited outcrops of Archaean rocks.
The eastern margin of the Paterson Orogen is masked by younger Proterozoic to Phanerozoic sedimentary rocks (Officer and Canning Basins) with sedimentary units of the late Proterozoic Savory Basin on-lapping to the southwest. The main outcropping stratigraphic packages across the bulk of the Paterson Project are the lowermost member of the Mesoproterozoic to Neoproterozoic Yeneena Group, the Coolbro Sandstone, and the Paleoproterozoic Rudall Metamorphic Complex.
Local Geology
The Paleoproterozoic Rudall Metamorphic Complex hosts the Central Tenements surrounding the Kintyre Uranium deposit. At and around Kintyre, the prospective Yandagooge Formation outcrops within the Yandagooge Inlier, consisting of a "basement high" of Rudall Metamorphic Complex surrounded by Neoproterozoic sandstone and Permian glacial tillite. The basement sequence has undergone a minimum of four deformation episodes and is unconformably overlain by Neoproterozoic sandstone and conglomerate deposits of the Yeneena Basin, which have seen at least one major deformation episode.
The dominant host-rock to mineralisation at Kintyre is a garnet-rich, chert-banded, calc-silicate magnetite schistose rock, sandwiched between carbonates and shales of the Yandagooge Formation. These are amphibolite facies metamorphosed rocks, later retrogressively metamorphosed to greenschist facies during or prior to the principal mineralisation phase. Late in syn-D3 or during D4 uranium-bearing, hydrothermal fluids were introduced into the system, depositing pitchblende within northeast dipping dilational zones developed in the S3 cleavage.
In the Kintyre area, the Yandagooge Inlier is surrounded by Coolbro Sandstone, which comprises a thick quartz sandstone sequence with intercalated carbonaceous mudstone and shale interbeds (Jackson & Andrew, 1990). The Coolbro Sandstone, which represents the basal formation of the low-grade metamorphic Neoproterozoic Yeneena Supergroup, exhibits a strong slaty cleavage and has been isoclinally folded and deformed around NW trending axes.
The Central Tenements around the Kintyre deposit are predominantly covered by outcropping northwest-southeast trending, northerly dipping, and folded Coolbro sandstone. Aeolian sand covers areas in the west-central and southeast portions of the tenement. It is believed that these areas are directly underlain by an inlier of the Yandagooge Formation Rudall Metamorphics (Jackson & Andrew, 1990). Rudall Metamorphics outcrop in the west-central area and near the south-eastern corner of the tenement. The north eastern edge of the tenement has outcropping northwest-southeast trending, northerly dipping, and folded Broadhurst Formation.
Exploration Potential and Prospectivity
The Paterson Province hosts several major copper and gold operations, including the Nifty copper mine and the world-class Telfer gold mine. More recently, several new copper-gold discoveries have been made at Winu (Rio Tinto) and Havieron (Greatland Resources PLC???).
A review of a compilation of available geophysical data reprocessed using modern techniques highlights multiple anomalies, including a large "bullseye" magnetic anomaly at Wanderer Prospect within the Central Tenements. The Wanderer Copper-Gold Prospect, first discovered by CRA in 1987, reveals the presence of significant copper, gold and molybdenum values in a wide zone of iron‐oxide alteration extending across more than 1 km of strike. In addition, geochemical assemblage (Cu-Au-Mo) is potentially indicative of a porphyry intrusion as the source of mineralisation. Several other targets with low-magnetics/high gravity signatures have been identified.
At a regional scale, the Paterson Province has potential for large intrusive-related copper and gold targets undercover, requiring geophysical methods, such as Mobile MT by Expert Geophysics Limited, that has been successfully used in the Paterson Province as means of primary target identification.
A review of geophysical and structural data (Figure 4), has identified several compelling exploration opportunities around the existing Wanderer copper-gold project.
Figure 4: RTP Magnetics Left and Gravity Right, illustrating numerous coincident magnetic low and gravity high targets
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).
For additional information please contact:
Cloudbreak Discovery PLC | Peter Huljich, ChairmanTom Evans, Managing Director | Tel: +44 207 887 6139Tel: +44 7851 703440 |
Novum Securities (Financial Adviser) | David Coffman / Anastassiya Eley | Tel: +44 7399 9400 |
About Cloudbreak Discovery PLC
Cloudbreak Discovery PLC is a leading natural resource explorer and project generator. Cloudbreak is focused on mineral exploration and energy opportunities with the aim of bringing near-term cashflow and driving shareholder value.
Through its wholly owned but independently operated subsidiaries, the Company will develop its array of mineral assets, whilst continuing to generate new projects with a particular focus on commodities with high intrinsic value.
Cloudbreak's generative model across the mineral sector enables a multi-asset approach to investing in the commodity cycle.
Competent Persons Statement
The Information in this report that relates to exploration results, mineral resources or ore reserves is based on information compiled by Mr Edward Mead, who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Mead is a consultant to Cloudbreak Discovery Plc and employed by Doraleda Pty Ltd. Mr Mead has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the `Australian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves' (the JORC Code). Mr Mead consents to the inclusion of this information in the form and context in which it appears in this report.
Table 1: Significant Assays (>0.3% Cu or 0.3ppm Au)
Hole | From (m) | To (m) | Interval (m) | Cu % | Au | Mo ppm |
87WDRC1 | 25 | 28 | 3 | 0.30% | 0 | 6 |
87WDRC10 | 53 | 54 | 1 | 0.31% | 0.25 | 350 |
87WDRC12 | 111 | 115 | 4 | 0.70% | 0.35 | 18 |
87WDRC13 | 101 | 102 | 1 | 0.34% | 0.07 | 34 |
87WDRC13 | 102 | 103 | 1 | 0.35% | 0.09 | 40 |
87WDRC13 | 105 | 106 | 1 | 1.11% | 0.12 | 18 |
87WDRC13 | 108 | 109 | 1 | 0.45% | 0.04 | 33 |
87WDRC13 | 109 | 110 | 1 | 0.88% | 0.06 | 37 |
87WDRC13 | 110 | 111 | 1 | 0.63% | 0.16 | 43 |
87WDRC13 | 111 | 112 | 1 | 0.83% | 0.09 | 38 |
87WDRC14 | 77 | 78 | 1 | 1.22% | 0.15 | 145 |
87WDRC14 | 107 | 110 | 3 | 0.56% | 0.17 | 74 |
87WDRC14 | 110 | 112 | 2 | 0.25% | 0.65 | 18 |
87WDRC14 | 114 | 115 | 1 | 2.11% | 0.59 | 26 |
87WDRC14 | 115 | 116 | 1 | 1.17% | 0.17 | 29 |
87WDRC14 | 116 | 118 | 2 | 2.68% | 0.28 | 22 |
87WDRC14 | 118 | 120 | 2 | 1.82% | 0.15 | 30 |
87WDRC17 | 0 | 5 | 5 | 0.01% | 0.38 | 21 |
87WDRC2 | 84 | 85 | 1 | 0.53% | 0.02 | 460 |
87WDRC2 | 88 | 89 | 1 | 0.89% | 0.04 | 280 |
87WDRC2 | 89 | 90 | 1 | 1.15% | 0.04 | 1270 |
87WDRC2 | 90 | 91 | 1 | 1.68% | 0.03 | 1000 |
87WDRC2 | 91 | 92 | 1 | 4.00% | 0.09 | 610 |
87WDRC2 | 92 | 93 | 1 | 3.61% | 0.06 | 620 |
87WDRC2 | 93 | 94 | 1 | 6.51% | 0.06 | 220 |
87WDRC2 | 94 | 95 | 1 | 1.20% | 0.01 | 15 |
87WDRC2 | 95 | 97 | 2 | 2.34% | 0.03 | 44 |
87WDRC2 | 97 | 99 | 2 | 0.52% | 0.03 | 40 |
87WDRC2 | 99 | 101 | 2 | 0.32% | 0.01 | 49 |
87WDRC22 | 75 | 80 | 5 | 0.62% | 0.16 | 13 |
87WDRC22 | 80 | 85 | 5 | 0.10% | 0.3 | 9 |
87WDRC24 | 70 | 73 | 3 | 0.33% | 0.04 | 34 |
87WDRC24 | 73 | 77 | 4 | 0.71% | 0.09 | 41 |
87WDRC24 | 77 | 80 | 3 | 0.61% | 0.06 | 30 |
87WDRC26 | 82 | 86 | 4 | 0.68% | 0.09 | 28 |
87WDRC3 | 83 | 84 | 1 | 0.45% | 0.01 | 7 |
87WDRC3 | 85 | 86 | 1 | 0.52% | 0.07 | 140 |
87WDRC3 | 86 | 88 | 2 | 0.42% | 0.03 | 69 |
87WDRC6 | 84 | 85 | 1 | 5.18% | 0.29 | 620 |
87WDRC6 | 85 | 86 | 1 | 2.60% | 0.22 | 720 |
87WDRC6 | 86 | 87 | 1 | 2.56% | 0.21 | 350 |
87WDRC6 | 87 | 88 | 1 | 2.31% | 0.18 | 290 |
87WDRC6 | 88 | 89 | 1 | 3.05% | 0.11 | 169 |
87WDRC6 | 89 | 90 | 1 | 1.01% | 0.1 | 81 |
87WDRC6 | 90 | 91 | 1 | 0.57% | 0.04 | 59 |
87WDRC6 | 91 | 92 | 1 | 0.42% | 0.03 | 42 |
87WDRC6 | 92 | 93 | 1 | 0.72% | 0.04 | 121 |
87WDRC7 | 98 | 103 | 5 | 0.31% | 0.01 | 46 |
87WDRC7 | 103 | 104 | 1 | 3.27% | 0.22 | 560 |
87WDRC7 | 104 | 105 | 1 | 0.71% | 0.08 | 360 |
87WDRC7 | 105 | 106 | 1 | 0.34% | 0.09 | 1330 |
87WDRC8 | 83 | 84 | 1 | 0.88% | 0.11 | 200 |
87WDRC8 | 84 | 85 | 1 | 2.01% | 0.26 | 280 |
87WDRC8 | 85 | 86 | 1 | 2.18% | 0.14 | 178 |
87WDRC8 | 86 | 87 | 1 | 2.02% | 0.15 | 260 |
87WDRC8 | 87 | 88 | 1 | 3.23% | 0.18 | 420 |
87WDRC8 | 88 | 89 | 1 | 2.59% | 0.11 | 210 |
87WDRC8 | 89 | 90 | 1 | 1.81% | 0.08 | 200 |
87WDRC8 | 90 | 92 | 2 | 0.39% | 0.01 | 43 |
87WDRC8 | 92 | 94 | 2 | 0.70% | 0.03 | 77 |
88WDD03 | 89 | 90 | 1 | 0.67% | 0.04 | 53 |
88WDD03 | 90 | 91 | 1 | 0.36% | 0.03 | 40 |
88WDD03 | 190 | 191 | 1 | 0.61% | 0.08 | 78 |
88WDD03 | 191 | 192 | 1 | 0.43% | 0.06 | 87 |
88WDRC27 | 43 | 44 | 1 | 0.19% | 0.99 | 24 |
88WDRC28 | 58 | 62 | 4 | 0.48% | 0 | 11 |
88WDRC36 | 90 | 95 | 5 | 0.32% | 0.02 | 9 |
88WDRC36 | 95 | 100 | 5 | 0.46% | 0.1 | 20 |
Table 2: Collar location and Hole Type
Hole ID | Easting | Northing | RL (m) | Total Depth (m) | Dip | Azimuth | Hole Type |
87WDRC1 | 402140 | 7521450 | 430 | 104 | -60 | 180 | RC |
87WDRC2 | 402180 | 7521450 | 430 | 120 | -60 | 180 | RC |
87WDRC3 | 402220 | 7521450 | 430 | 120 | -60 | 180 | RC |
87WDRC4 | 402200 | 7521410 | 430 | 120 | -60 | 180 | RC |
87WDRC5 | 402170 | 7521410 | 430 | 120 | -60 | 180 | RC |
87WDRC6 | 402160 | 7521450 | 430 | 116 | -60 | 180 | RC |
87WDRC7 | 402180 | 7521470 | 430 | 120 | -60 | 180 | RC |
87WDRC8 | 402200 | 7521450 | 430 | 109 | -60 | 180 | RC |
87WDRC9 | 402260 | 7521450 | 430 | 98 | -60 | 180 | RC |
87WDRC10 | 402060 | 7521460 | 430 | 89 | -60 | 180 | RC |
87WDRC11 | 402030 | 7521480 | 430 | 120 | -60 | 180 | RC |
87WDRC12 | 402010 | 7521440 | 430 | 120 | -60 | 180 | RC |
87WDRC13 | 401250 | 7521520 | 450 | 120 | -90 | 0 | RC |
87WDRC14 | 401250 | 7521480 | 450 | 120 | -90 | 0 | RC |
87WDRC15 | 401210 | 7521520 | 450 | 114 | -90 | 0 | RC |
87WDRC16 | 401250 | 7521560 | 450 | 109 | -90 | 0 | RC |
87WDRC17 | 401290 | 7521520 | 450 | 115 | -90 | 0 | RC |
87WDRC18 | 401330 | 7521490 | 450 | 119 | -90 | 0 | RC |
87WDRC19 | 401170 | 7521600 | 450 | 120 | -90 | 0 | RC |
87WDRC20 | 401210 | 7521560 | 450 | 120 | -90 | 0 | RC |
87WDRC21 | 401250 | 7521440 | 450 | 120 | -90 | 0 | RC |
87WDRC22 | 401642 | 7521465 | 450 | 98 | -60 | 180 | RC |
87WDRC23 | 401658 | 7521465 | 450 | 100 | -60 | 180 | RC |
87WDRC24 | 401675 | 7521465 | 450 | 100 | -60 | 180 | RC |
87WDRC25 | 401700 | 7521465 | 450 | 96 | -60 | 180 | RC |
87WDRC26 | 401662 | 7521493 | 450 | 100 | -60 | 180 | RC |
88WDRC27 | 401245 | 7521605 | 450 | 80 | -60 | 240 | RC |
88WDRC28 | 401280 | 7521600 | 450 | 81 | -60 | 240 | RC |
88WDRC29 | 401220 | 7521690 | 450 | 69 | -60 | 250 | RC |
88WDRC30 | 401140 | 7521760 | 451 | 54 | -60 | 250 | RC |
88WDRC31 | 401135 | 7521800 | 448 | 69 | -60 | 240 | RC |
88WDRC32 | 401250 | 7521750 | 450 | 106 | -90 | 0 | RC |
88WDRC33 | 401250 | 7521700 | 440 | 87 | -60 | 200 | RC |
88WDRC34 | 401250 | 7521335 | 450 | 105 | -90 | 0 | RC |
88WDRC35 | 401950 | 7521360 | 430 | 106 | -90 | 0 | RC |
88WDRC36 | 401950 | 7521285 | 450 | 106 | -90 | 0 | RC |
88WDRC37 | 401950 | 7521425 | 440 | 106 | -90 | 0 | RC |
87WDD01 | 401950 | 7521500 | 415 | 287.7 | -61 | 181 | DD |
87WDD02 | 401985 | 7521555 | 440 | 117 | -70 | 180 | DD |
88WDD03 | 401250 | 7521500 | 420 | 212.7 | -90 | 0 | DD |
88WDD04 | 402180 | 7521480 | 434 | 200.8 | -90 | 0 | DD |
90WDD05 | 401950 | 7521425 | 440 | 409.9 | -90 | 0 | DD |