REPEAT: Cameo Cobalt Initiates Phase I Work Program on Big Mac Gold Project
29 August 2018 - 11:00PM
Cameo Cobalt Corp. (TSX Venture: CRU) (OTC: CRUUF) (FWB:
SY7N) (the “
Company” or
“
Cameo Cobalt”) is pleased to announce it has
engaged Ridgeline Exploration Services Ltd. (“Ridgeline”) out of
Kelowna, BC, to complete a Phase I work program on the Company’s
recently acquired Big Mac Gold Project (See Cameo Cobalt’s news
release dated August 27, 2018). The 2018 program will consist
of an airborne magnetic survey utilizing the companies GEM Systems
GSMP-35A magnetometer. A total of 500 line-km is currently planned
for the 9,263.88 Ha property and will provide survey coverage over
historic showings including the Forest 13 and Tic 8 Minfile
occurrences where historic rock samples returned as high as 9%
Copper and 4.6% Zinc (AR: 20562). Phase I aims to identify magnetic
targets within the Big Mac property that will be followed up on
with ground-based work during a Phase II program.
The Big Mac Gold Project shares more than 30 kilometres of
contiguous claim boundaries on the east and west sides of Aben
Resources Ltd.'s Forrest Kerr gold project. The Big Mac Gold
Project is approximately 8 kilometres south of Aben Resources’
(“Aben”) drill hole FK18-10, which reported four separate
high-grade zones with the best zone returning an interval of 38.7
g/t Au over 10.0 metres including 62.4 grams per tonne gold over
6.0 m starting at 114 metres downhole (see Aben Resources news
release dated August 9, 2018). Drill hole FK18-10 was Aben’s first
drill hole of the 2018 exploration season. The Big Mac Gold Project
is also located just north of properties owned by Garibaldi
Resources Ltd. and Colorado Resources Ltd.
Cameo Cobalt is also pleased to announce the appointment of Mr.
Chris Paul to its Board of Directors. Currently, Mr. Paul serves as
Vice President of Exploration for Golden Ridge Resources Ltd.
(“Golden Ridge”). He has overseen all aspects of Golden Ridge’s
exploration on the Hank Property since 2016 and continues to manage
and oversee the ongoing diamond drilling programs on the Hank. Mr.
Paul was fundamental in Golden Ridge’s recent drill discovery of
the Williams Cu-Au Porphyry, which intersected 327m of 0.31% Cu,
0.35 g/t Au and 1.94 g/t Ag in HNK-18-001 (See Golden Ridge’s news
release dated August 14, 2018) Mr. Paul holds a B.Sc. in Geology
from Simon Fraser University and a Diploma of Technology in Mining
from the British Columbia Institute of Technology. Mr. Paul has
worked on all scales of exploration throughout British Columbia and
the Yukon Territories and is also a co-founder of Ridgeline
Exploration Services Ltd.
About the Big Mac Gold
ProjectThe Big Mac Gold Project consists of 12 mineral
claims structured into three tenure blocks. The project comprises a
total of 9,264 hectares (about 22,881 acres). The project offers
close proximity to the Eskay Creek access road and the newly
constructed Alta Gas McLymont hydro-power facility.
The Big Mac Gold Project is the largest claim package contiguous
with Aben Resources' Forrest Kerr gold project which recently
disclosed drill results indicating multiple high-grade zones
including 62.4 g/t gold over 6.0m within 38.7 g/t gold over 10.0m
at its Forrest Kerr project (see Aben Resources news release dated
August 9, 2018).
The specific location of the Big Mac Gold Project is notable as
it not only surrounds much of Aben Resources’ Forrest Kerr gold
project, but it also contains significant tenure held in the past
by Barrick Gold. Aben Resources recently provided an update
announcing discovery of a "south boundary" mineralized zone
1.5km south of north boundary zone at its Forrest Kerr project in
BC's golden triangle (see Aben Resources news release dated August
23, 2018).
The Barrick Gold area is of interest to the Big Mac Gold Project
as it is situated in a comparable environment to the Carcass Creek
and Boundary zones recently drilled by Aben Resources, being both
situated east of the Forrest Kerr fault structure and mapped within
Hazelton group volcanics, specifically the Hazelton group
volcanics. The target environment at the Big Mac Gold Project is
the volcanic settings (Stuhini group and Hazelton group volcanics)
known to host mineralization elsewhere in the immediate area.
Receding glaciation within the Golden Triangle has opened new
exploration opportunities and physical access not previously
available under historic exploration activity. Additional regional
activity has yielded encouraging drill results including Golden
Ridge Resources announcement of a copper-gold porphyry discovery on
its Hank Property intersecting 327m with grades of 0.31% Cu, 0.35
g/t Au, 1.94 g/t Ag.
The Big Mac Gold Project claims map can be found by following
the below URL link:
https://cameocobalt.com/wp-content/uploads/2018/08/Cameo_Big_Mac.pdf
Qualified PersonsHarrison Cookenboo,
Ph.D., P.Geo., is a qualified person as defined in National
Instrument 43-101. He has reviewed and is responsible for the
technical information in this news release.
The Company has also granted 750,000 options to a director of
the Company.
CAMEO COBALT CORP. “ Akash Patel”
For more information contact:(778) 549-6714
Or 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
legislation. Readers are cautioned not to place undue reliance on
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.
Cameo Industries (TSXV:CRU)
Historical Stock Chart
From Jun 2024 to Jul 2024
Cameo Industries (TSXV:CRU)
Historical Stock Chart
From Jul 2023 to Jul 2024