REPEAT: Cameo Cobalt Corp. Intersects Mineralization At Depth
June 25 2018 - 7:30AM
Cameo Cobalt Corp. (TSX Venture:CRU)
(OTC:CRUUF) (FWB:SY7N) (the “
Company” or
“
Cameo Cobalt”) is very pleased to announce that
the Company has completed 725.42 meters of diamond drilling on the
Gochager Lake Copper-Cobalt-Nickel Project. The first batch of high
priority samples has been delivered to an accredited laboratory in
Saskatoon, Saskatchewan for assaying.
Both completed drillholes GL18001 and GL18002 were designed to
test sections of reported higher grade nickel-copper-cobalt
mineralization occurring in historic drillhole I-12 drilled in
1966.
Drillhole GL18001 intersected multiple zones of semi-massive to
massive sulphide mineralization hosted within a very well
mineralized gabbro.
Drillhole GL18002 drilled from the same section as drillhole
GL18001 was designed to test a zone of massive sulphide
mineralization in historic drillhole I-12 at a vertical depth of
290 meters. The drillhole did not intersect massive sulphide
mineralization at this depth; but did however, encounter gabbro
hosted massive sulphide mineralization higher up in the drillhole,
suggestive of possible continuation of the massive sulphides
encountered in drillhole GL18001.
Ian Fraser, consulting geologist states, “The two-hole drill
program was very successful in confirming the reported massive
sulphide mineralization in parts of historic drillhole I-12; but
equally as important; the inclined drillholes have delineated the
extent of the disseminated – interstitial mineralization occurring
within the host gabbro. Historically, the Gochager Lake deposit was
delineated mostly with vertical drillholes in what appears to be a
very steeply dipping mineralized system. Encountering multiple
zones of massive sulphide mineralization in drillholes GL18001 and
GL18002 and intersecting mineralized gabbro at a depth 100 meters
below the last reported intersection in historic drillhole I-12,
has opened-up the Gochager Lake deposit for the potential to
delineate more massive sulphide mineralization at depth and along
strike within what appears to be a very significant mineralized
system.”
Cameo Cobalt looks forward to reporting assay results in the
coming weeks.
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 gabbro hosted Nickel-Copper deposit with elevated
levels of Cobalt; however, the Cobalt values within the deposit
were not consistently reported. Cobalt is 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, 0.7% copper and 2.86% cobalt as
reported by the Saskatchewan government (Mineral deposit index No.
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.
Qualified Person
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 COBALT CORP.“ Akash Patel”
For more information contact:(778) 549-6714Or Email:
lucasbirdsall@gmail.com www.cameocobalt.com
Reader Advisory This news release contains certain
“forward-looking information” within the meaning of applicable
securities law. Forward-looking information is frequently
characterized by words such as “plan”, “expect”, “project”,
“intend”, “believe”, “anticipate”, “estimate” and other similar
words, or statements that certain events or conditions “may” or
“will” occur. In particular, forward-looking information in this
press release includes, but is not limited to, statements with
respect to the Company’s proposed acquisition, exploration program
and the expectations for the cobalt industry. Although we believe
that the expectations reflected in the forward-looking information
are reasonable, there can be no assurance that such expectations
will prove to be correct. We cannot guarantee future results,
performance or achievements. Consequently, there is no
representation that the actual results achieved will be the same,
in whole or in part, as those set out in the forward-looking
information.
Forward-looking information is based on the opinions and
estimates of management at the date the statements are made, and
are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ
materially from those anticipated in the forward-looking
information. Some of the risks and other factors that could cause
the results to differ materially from those expressed in the
forward-looking information include, but are not limited to:
general economic conditions in Canada and globally; industry
conditions, including governmental regulation and environmental
regulation; failure to obtain industry partner and other third
party consents and approvals, if and when required; the
availability of capital on acceptable terms; the need to obtain
required approvals from regulatory authorities; stock market
volatility; liabilities inherent in water disposal facility
operations; competition for, among other things, skilled personnel
and supplies; incorrect assessments of the value of acquisitions;
geological, technical, processing and transportation problems;
changes in tax laws and incentive programs; failure to realize the
anticipated benefits of acquisitions and dispositions; and the
other factors. Readers are cautioned that this list of risk factors
should not be construed as exhaustive.
The forward-looking information contained in this news release
is expressly qualified by this cautionary statement. We undertake
no duty to update any of the forward-looking information to conform
such information to actual results or to changes in our
expectations except as otherwise required by applicable securities
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forward-looking information.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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