Cameo Cobalt Corp’s Whabouchi Regional Lithium Project covers more than 19,000 hectares near Nemaska Lithium Inc.’s advanced Whabouchi lithium deposit. Cameo Cobalt Corp. 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 Cobalt Corp. 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 Cobalt Corp. 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 Cobalt Corp. 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 Cobalt Corp. properties, this proximity does not necessarily indicate similar occurrences will be found onCameo Cobalt Corp. properties.