VANCOUVER, British Columbia, Feb. 11, 2019 (GLOBE NEWSWIRE) — Cameo Cobalt Corp. (TSX Venture: CRU) (OTC: CRUUF) (FWB: SY7N) (the “Company” or “Cameo”) is pleased to announce that further to its December 17, 2018 news release, the Company has completed a technical report to the standards of Canadian National Instrument 43-101 (“NI 43-101”) for its Big Mac gold project. The Big Mac NI 43-101 report has been filed on SEDAR and is also available for viewing on the Cameo website.
Big Mac Gold Project
As described in the NI 43-101 report, the Big Mac gold project is in British Columbia’s prolific golden triangle, covering 9171 hectares in two separate claims blocks. The Big Mac East Block (larger of the two blocks) is located between the past-producing Eskay Creek gold and silver mine (16 kms southeast), and Aben Resources’ 2018 drilling (9 kms to the north) which reportedly intersected multiple high-grade gold zones, including 38.7 grams per tonne gold over 10.0 metres (see Aben Resources’ news release dated August 9, 2018).
The Big Mac West Block is located approximately 3 to 4 kms to the west of the East Block, across the Forrest Kerr Creek valley. As many as twenty mineral showings and prospects from the B.C. government’s MINFILE website occur between the Big Mac East and West Blocks.
Cameo completed a helicopter-borne magnetic survey over the property in September 2018, comprising 773 line kilometres at 150-metre spacing. Interpretation of the airborne magnetic data identifies a strong magnetic anomaly stretching more than five kilometers in a generally north-northeast trend within the Big Mac East Block, as well as cross faults extending from the regionally significant north-south Forrest Kerr fault. This strong magnetic anomaly occurs within Hazelton Group basalts, mapped as Eskay rift fill by government geologists.
Akash Patel, Chief Executive Officer and a director of Cameo Cobalt, stated: “Cameo chose to commission a National Instrument 43-101 report for its Big Mac gold project as a result of the high potential of the project, as well as encouraging drill results from regional activity. The Company completed the helicopter-borne magnetic surveys, which defined several important structures branching east off the regional-scale Forest Kerr fault structure.
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 in this news release.
CAMEO COBALT CORP.
For more information contact:
Or Email: email@example.com
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.
ResourceNews.com, The Place for Latest Resource Industry News