VANCOUVER, Dec. 18, 2017 /CNW/ - Cameo Resources
Corp. (TSX.V "CRU") (OTC: SIDNF)(the "Company") is
pleased to announce field plans to explore the Whabouchi Regional
Lithium Project in northern Quebec, and the Silver King North silver-gold
project in central British
Columbia. The Company's acquisition of the projects is
subject to the approval of the TSX Venture Exchange, which approval
the Company is in the process of obtaining. Detailed plans for both
programs are being finalized now with field work anticipated to
commence as soon as weather conditions permit.
Whabouchi Regional Lithium Project – Northern Quebec
Cameo's Whabouchi Regional Lithium Project covers more than
19,000 hectares near Nemaska Lithium Inc.'s advanced Whabouchi
lithium deposit. Cameo's optioned Montagne Lake property covers 4,485 hectares and
is located 3 km to the west of Nemaska's Whabouchi lithium deposit. The
Company's optioned Dumont property covers an additional 14,550
hectares 7 km east of the deposit. Quebec's Route du Nord highway crosses both
properties.
"Cameo Resources is very excited to undertake our 2018 work
programs. In conjunction with our partner Clean Commodities
Corp., we are now the largest publicly traded company in terms of
tenure in a district anchored by Nemaska Lithium's prolific
Whabouchi lithium deposit. Our recently announced option agreement
puts Cameo Resources in a unique position to leverage the explosive
growth in the lithium and energy metals sector," stated
Akash Patel, President of the
Company.
Planned work will consist of traverses, mapping and sampling to
identify potential lithium-bearing pegmatites following up on field
work from the summer of 2016 which identified up to 344 ppm
Li2O (equivalent to 160 ppm Li reported by independent
Actlabs in Ancaster,
Ontario) from 182 chip grab samples. The targeted
pegmatites would carry the mineral spodumene akin to the lithium
hosting mineral at Nemaska's
Whabouchi deposit. Should spodumene pegmatite dyke(s) be
discovered, Cameo expects channel sampling and drill testing could
occur by late summer 2018.
Nemaska Lithium Inc.'s nearby Whabouchi deposit is a
feasibility-stage proposed lithium mine described in detail in a
series of technical reports to the standards on Canadian Instrument
43-101, including most recently a Feasibility report dated
May 19, 2016 (see website
http://www.nemaskalithium.com for reports). Although
Nemaska's Whabouchi lithium
deposit demonstrates the exploration potential for lithium in the
area of Cameo's properties, this proximity does not necessarily
indicate similar occurrences will be found on Cameo's
properties.
Silver King North Project – Central
British Columbia
Cameo's Silver King North Project is located within the
high-potential, silver-gold Skeena Arch region of central British
Columbia. The project covers more than 16,273 ha (40,194
acres) and is 15 km south of Houston,
BC. The property is contiguous with the Silver Queen Project
recently drilled by New Nadina Explorations Ltd., assays pending.
In addition to New Nadina, the Silver King North Project also
shares contiguous borders with publicly traded Tasca Resources Ltd.
and is located 12 km west of the past-producing Equity Silver
Mine.
An attachment accompanying this release is available
at http://resource.globenewswire.com/Resource/Download/524f718e-dea6-43d2-aa1c-d1a31ef9a6a5
Cameo plans to initiate a follow-up field program to ground
truth multiple airborne magnetic anomalies interpreted as
prospectively part of a large potential porphyry system on the
Silver King North Project claims. A strong magnetic high
located 10 kms north of New Nadina's Silver Queen Project is a
priority exploration target for Cameo Resources due to its possible
origin as a resurgent intrusive center as reported in past owner's
2012 assessment work report. Cameo is currently selecting
between two qualified field geology companies to provide services
for the inaugural exploration program.
"The Silver King project located north of New Nadina provides
Cameo Resources with district-scale exposure to this exciting area.
Cameo is now among the largest contiguous tenure holders
alongside New Nadina's Silver Queen project. We will be shortly
selecting our geological firm for the field work and anticipate an
exciting 2018 from both our projects," stated Akash Patel, President of Cameo Resources.
An attachment accompanying this release is available
at http://resource.globenewswire.com/Resource/Download/77198ac4-9059-47e7-99c3-6041f174f64d
Qualified Person
The technical information in this
news release has been prepared in accordance with the Canadian
regulatory requirements set out in National Instrument 43-101 and
reviewed and approved by Harrison
Cookenboo, Ph.D., and P.Geo., a Qualified Person and
consultant to the Cameo Resources Corp.
About Cameo Resources Corp.
Cameo Resources Corp. is
focused on enhancing shareholder value through astute
acquisitioning of exceptional projects in perceived undervalued
situations.
The transaction is subject to TSX approval.
On behalf of the board of directors,
CAMEO RESOURCES CORP.
"Akash
Patel"
Akash Patel
President
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Cameo Resources Corp.