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Cameo Resources Signs LOI to Acquire 51% Interest in The Katoro Gold Property Tanzania
March 13, 2025 – TheNewswire - SURREY, British Columbia – Cameo Resources Inc. (CSE: MEO) (“Cameo” or the “Company”) is pleased to announce that it has entered
About this update from Cameo Resources Inc
[{"type":"text","content":"March 13, 2025 – TheNewswire - SURREY, British Columbia – Cameo Resources Inc. (CSE: MEO) (“Cameo” or the “Company”) is pleased to announce that it has entered into an arms-length binding letter of intent (the “LOI”) with 1154308 B.C. Ltd., pursuant to which, and subject to the terms and conditions contained therein, it would enter into an Option Agreement (the “Agreement”) to acquire a 51% right, title, and interest in the Katoro Gold Properties (the “Properties”), located in the Geita region of Tanzania (the “Acquisition”). Highlights of the Katoro Property: 12.52 km roadaccessible Properties, approximately 170 km southwest of Mwanza city, 63 km southwest of Geita Region. Located within the Sukumaland Greenstone Belt (SGB”) home for the Buckreef mine along the same strike within Katoro, within the Lake Victoria Goldfields in north-west Tanzania. Regional geophysical and structural settings suggesting an exploration potential for significant gold mineralization within the project areas. Souhail Abi-Farrage, President & CEO of Cameo, commented: \"Entering into this LOI is a solid opportunity for Cameo. The Property has two complementary exploration upsides, with an established epi-mesothermal zone of higher-grade gold mineralization in quartz veins from surface that Cameo can look to exploit almost immediately, and a much broader under-explored potential for a buried porphyry. We are excited to see the commencement of work on this property.\" The Katoro Gold Properties The Properties cover 12.52 square kilometers situated within the prospective Sukumaland Greenstone Belt within the Lake Victoria Goldfield (LVGF) (Figure 1). One of the most important mining sites in Africa, Tanzania’s LVGF holds several multi-million-ounce gold deposits and has ongoing operations by some of the largest gold companies in the world. The concessions have been mined by artisanal miners for some time, evidenced by the multiple shallow pits and trenches showing iron carbonate altered mafic volcanics (basalts) and quartz feldspar porphyry intrusions. Gold is associated with grey quartz veins and stringers that exhibit a pinch and swell characteristic, parallel to the fabric of east-west shear zones. The concessions occur within a broader area that has seen exploration and mining activities by several companies including, TRX Gold C...