Cameo Cobalt Corp. Awarded Gochager Copper-Cobalt-Nickel Project Exploration Permit
May 29 2018 - 8:30AM
Cameo Cobalt Corp. (TSX-Venture:CRU) (OTC:CRUUF)
(FWB:SY7D) (the “
Company” or “
Cameo
Cobalt”) is pleased to announce that the Ministry of
Environment, SK has awarded the Company the necessary Permits to
conduct mineral exploration activities at the Company’s Gochager
Copper-Cobalt-Nickel Project.
The Company plans to mobilize drill equipment and personnel to
Missinipe, SK starting the week of May 28, 2018. Cameo Cobalt
anticipates diamond drilling will commence the week of June 4,
2018.
Recently, Cameo Cobalt consultants were successful in
identifying several historic drill casings at the Gochager Lake
property and specifically drill casings directly over top the
Gochager Lake deposit. Forty plus drill casings were identified and
recorded. Utilizing historic plan maps and modern photo imagery the
Company has re-constructed the historic drilling plan map and has
confirmed the location of historic drillhole I-12. Historic
drillhole I-12 returned an assay interval consisting of 0.57%Ni,
0.12%Cu / 294.1m inclusive of higher-grade intervals of 1.04%Ni,
0.22%Cu / 34.3m and 2.36%Ni, 0.35%Cu, 0.14%Co / 9.7m.
Available historic data reports the assaying of Cobalt; however,
the historic records are very incomplete. Cameo Cobalt plans to
intersect the above mentioned higher-grade mineralized intercepts
with drillholes drilled in an orientation to confirm the
Copper-Cobalt-Nickel mineralization and to better reflect the true
thickness of these intervals.
Gochager Lake copper-cobalt-nickel Project
The project, which consists of four claims covering 3,759
hectares, is located in Northern Saskatchewan approximately 75
kilometres north of the town of La Ronge. Historical exploration
has identified a semi-massive and massive Ni-Cu deposit with
significantly elevated levels of cobalt, a vital component in the
manufacture of the latest generation of lithium ion batteries.
The Gochager Lake Copper-Cobalt-Nickel project has reported
grades of up to 3.92% Nickel, 0.70% Copper and 2.86% Cobalt as
reported by the Saskatchewan government (Mineral Deposit Index #
0880). Historical resource estimates (non-National Instrument
43-101 compliant) were generated in 1968 and 1990. The 1968
historic resource for the Gochager Lake deposit calculated 4.3
million tons grading 0.30% Ni and 0.08% Cu. J.S. Steel, reported in
1990, that vertical and longitudinal sections were constructed from
the existing data and a historic resource with reasonably
well-defined limits was defined containing 1.77 million tonnes at
0.735% Nickel-equivalent.
CAMEO RESOURCES CORP. “Akash Patel”
Akash PatelPresident
For more information:Email: lucasbirdsall@gmail.comPhone: (778)
549-6714www.cameocobalt.com
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.
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