Diamond drilling to start next week.
Cameo Cobalt Corp. Awarded Gochager Copper-Cobalt-Nickel Project Exploration Permit
VANCOUVER, British Columbia, May 29, 2018 (GLOBE NEWSWIRE) -- 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 Patel
President
For more information:
Email: lucasbirdsall@gmail.com
Phone: (778) 549-6714
www.cameocobalt.com
