Cameo Cobalt Commissions NI 43-101 Report on Big Mac Gold Project
TSX VENTURE: CRU
VANCOUVER, British Columbia, Dec. 17, 2018 (GLOBE NEWSWIRE) -- Cameo Cobalt Corp. (TSX Venture: CRU) (OTC: CRUUF) (FWB: SY7N) (the “Company” or “Cameo Cobalt”) is pleased to announce that it has commissioned a NI 43-101 report for its Big Mac 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 also located just north of properties owned by Garibaldi Resources Ltd. and Colorado Resources Ltd. The Company expects to receive a completed NI 43-101 report in early 2019, which will be subsequently filed on SEDAR, as well as with the TSX Venture (“TSXV”).
Big Mac Gold Project
The 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 6.0 m within 38.7 g/t gold over 10.0 m at its Forrest Kerr project (see Aben Resources news release dated Aug. 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 1.5 kilometres south of their north boundary zone at its Forrest Kerr project in B.C.'s golden triangle (see Aben Resources news release dated Aug. 23, 2018). Cameo completed a helicopter-borne magnetic survey using a towed-bird system in early September 2018 comprising 901 line kms at 150 m spacing over the Property, which has helped define potentially prospective structures.
The Barrick area is of interest to the Big Mac gold project as it is situated in a comparable environment with 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. 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.
Additional regional activity has yielded encouraging drill results including Golden Ridge Resources announcement of a copper-gold porphyry discovery on its Hank property intersecting 327 m with grades of 0.31 per cent copper, 0.35 gram per tonne gold and 1.94 g/t silver.
The company also announces that Mr. Robert Meister has resigned as a director of Cameo Cobalt, effective December 14, 2018. The company would like to sincerely thank Mr. Meister for his services to date and wishes him the best of luck with his future endeavours.
Dr. Harrison 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 presented in this news release.
CAMEO COBALT CORP.
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