Cameo Cobalt Contractor Prepares to Mobilize on Big Mac Gold Project
31 August 2018 - 5:00PM
Cameo Cobalt Corp. (TSX Venture: CRU) (OTC: CRUUF) (FWB:
SY7N) (the “
Company” or
“
Cameo Cobalt”) is pleased to announce that
Ridgeline Exploration Services Inc. (“Ridgeline”) is preparing to
mobilize on the Company’s recently acquired Big Mac Gold Project
(the “Property”) (See Cameo Cobalt’s news release dated August 29,
2018). Ridgeline, based out of Kelowna, BC, has been engaged to
conduct a Phase I work program consisting of over 500 line-km of
airborne magnetic surveying of the Company’s 9,263.88 Ha Big Mac
Property
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 (approximately22,881 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. 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. High grade gold mineralization on the Forest Kerr
project is associated with second and third order fault splays
which branch off of the principal Forest Kerr Fault, an important
regional structure interpreted as the main conduit for gold bearing
hydrothermal fluids on the Forest Kerr property.
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 announced the discovery of
a "South Boundary" mineralized zone, approximately 1.5km south of
the North Boundary Zone on its Forrest Kerr project in British
Columbia's Golden Triangle district (see Aben Resources news
release dated August 23, 2018).
The zone encompassing the historic Barrick Gold tenures is of
particular importance to the Big Mac Gold Project as it is situated
on trend with easterly branching fault splays which host the gold
mineralization at the Forest Kerr project. The geology of the zone
is comparable to the Carcass Creek and Boundary zones recently
drilled by Aben Resources, both of which are hosted within Hazelton
group volcanics cut by easterly splays of the Forrest Kerr Fault
structure..
Receding glaciers within the Golden Triangle continue to open up
new exploration opportunities and mineralized geological exposures,
which were not previously accessible during historic exploration
programs. Receding glaciers and new infrastructure in the district,
including the paved Highway 37 and the high voltage Northwest
Transmission Line, has sparked a rush of recent activity in the
district, yielding encouraging exploration results including Golden
Ridge Resources 2018 discovery of a copper-gold porphyry on its
nearby Hank Property, which intersected 327m 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
The Company also announces that Charnjit (Johnny) Singh Jagpal
has resigned as a director of Cameo Cobalt Corp., effective August
31, 2018. The Company would like to sincerely thank Mr. Jagpal for
his service and wishes him the best of luck with his future
endeavours.
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.
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
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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
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anticipated benefits of acquisitions and dispositions; and the
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The forward-looking information contained in this news release
is expressly qualified by this cautionary statement. We undertake
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such information to actual results or to changes in our
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