VANCOUVER, British Columbia, June 11, 2018 (GLOBE NEWSWIRE) — Cameo Resources Corp. (TSX Venture:CRU) (OTC:CRUUF) (FWB:SY7N) (the “Company” or “Cameo Cobalt”) is very pleased to announce that spring drilling has commenced on the Company’s Gochager Lake Copper-Cobalt-Nickel property. Final drill positions were solidified late last week and drilling officially started the afternoon of Friday, June 8th.
CEO, Akash Patel states, “Cameo is very much excited to kick off the Gochager Lake Spring exploration campaign. Cameo Cobalt’s crew on the ground will complete approximately 750 metres of diamond drilling activities over a three-week drilling campaign. The initial drillholes of the proposed drill program are designed to confirm and better delineate the massive sulphide, high-grade Ni and associated Co mineralization in the historical drill holes.”
The Company looks forward to providing additional drilling updates in the coming weeks.
Ian Fraser, BSc., P.Geo., is a qualified person as defined in National Instrument 43-101. He has reviewed and is responsible for the technical information presented in this news release.
Gochager Lake Copper-Cobalt-Nickel Project
The project, which consists of four claims covering 3,759 hectares, is located in northern Saskatchewan approximately 75 km 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-NI43-101 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 1,770,000 tonnes at 0.735% nickel-equivalent.
CAMEO COBALT CORP.
“ Akash Patel”