Vancouver, British Columbia – APRIL 9, 2018 – Cameo Resources Corp. (TSX Venture: CRU) (OTC: CRUUF) (FWB: SY7D) (the “Company” or “Cameo Resources”) is pleased to announce it is finalizing spring exploration initiatives for the newly acquired Gochager Lake Copper-Cobalt-Nickel project. The Company plans to initiate the 2018 spring exploration campaign in early May. Cameo’s spring campaign will for the first time establish a comprehensive record of Cobalt mineralization occurring with and in association with the historic Nickel-Copper mineral resource occurring at the Gochager Lake property. Furthermore; the company plans to establish geophysical and geochemical signatures associated with the disseminated, semi-massive and massive mineralization defining the Gochager Lake deposit.
The late spring – early summer exploration program will consist of:
- A 4-drillhole 1,500m drilling program designed to confirm the presence of, extent of Cobalt mineralization associated with the Gochager Lake deposit.
- Follow-up Borehole EM (electromagnetic) probing of drillholes will define the associated EM signature in hole, and probe off hole and below the proposed drilling for additional Gochager-type disseminated, semi-massive and massive mineralization.
- An IP survey is proposed over the Gochager Lake deposit to determine the associated IP signature, plus to determine the orientation of the Gochager Lake deposit in 3D.
- A B-horizon soil geochemical survey immediately over top the Gochager Lake deposit will define the deposit’s associated geochemical signature.
Consulting geologist Ian Fraser states, “Cameo Resources is the beneficiary of a known mineral deposit occurring at the Gochager Lake property. The Gochager Lake deposit is known to come to surface and establishing with modern technology, geophysical and geochemical signatures associated with the deposit, provides the company with an exploration methodology that can be applied in the immediate vicinity of the Gochager Lake deposit and throughout the Gochager Lake property to find additional Copper-Cobalt-Nickel mineralization / deposits”.
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.
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.
CAMEO RESOURCES CORP.
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