VANCOUVER, British Columbia, March 13, 2018 (GLOBE NEWSWIRE) — Cameo Resources Corp. (TSX Venture:CRU) (OTC:CRUUF) (FWB:SY7D) (the “Company” or “Cameo Resources”) is pleased to announce it has engaged the services of Mr. Ian Fraser P.Geo. (IF Consulting Inc.). Mr. Fraser has extensive experience with Cameo’s newly acquired Gochager Lake Copper-Cobalt-Nickel project and has assembled a comprehensive exploration roadmap for the 2018 exploration season. In 2017, Mr. Fraser provided historic data compilation and preliminary NI 43-101 Technical Report writing for the Gochager Lake Copper-Cobalt-Nickel project.
Mr. Fraser is presently reviewing applicable historical data from the Gochager Lake Copper-Cobalt-Nickel project. Cameo’s 2018 exploration program will include the sourcing of diamond drilling services and drilling several drillholes into the historic Nickel-Copper resource to evaluate the associated Cobalt, known to occur with the Nickel-Copper mineralization. The Company plans to also perform down-hole electromagnetic (EM) surveys with the hopes of further defining massive sulphide targets occurring within and potentially beyond the historic resource boundaries.
Mr. Fraser states, “We are tremendously excited for the first time, to leverage modern geophysical and drilling techniques on the Gochager Lake Copper-Cobalt-Nickel project. Historical drill holes on the Gochager Lake project have never been properly assayed for the associated Cobalt mineralization. Historical drillhole intercepts and sections in the Technical Report reference drillhole I-12, and a drillhole intercept of 2.356%Ni, 0.348%Cu, 0.142%Co / 9.7m at downhole depth 282.9-292.6m. This type of grade is indicative of potentially massive sulphide and provides Cameo Resources with an excellent exploration target to pursue. Understanding the associated Cobalt mineralization at the Gochager Lake deposit and potentially an EM signature will establish an exploration methodology to use going forward. For all these reasons, the 2018 exploration season will prove to be an intriguing venture for Cameo Resources.”
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 Property 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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