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Cameo Cobalt Corp. Enters Into LOI To Acquire Large Scale Land Package In Chile’s Carrizal Alto Historic Cobalt Producing Region
VANCOUVER, British Columbia, June 07, 2018 (GLOBE NEWSWIRE) -- Cameo Resources Corp. (TSX Venture:CRU) (OTC:CRUUF) (FWB:SY7D) (the “Company” or “Cameo Cobalt”)
About this update from Quebec Rare Earth Elements Corp
[{"type":"text","content":" VANCOUVER, British Columbia, June 07, 2018 (GLOBE NEWSWIRE) -- Cameo Resources Corp. (TSX Venture:CRU) (OTC:CRUUF) (FWB:SY7D) (the “Company” or “Cameo Cobalt”) is very pleased to announce that the Company has entered into a letter of intent (the “LOI”) to acquire a large scale land package in Chile’s Carrizal Alto’s historic cobalt region, located 100 kilometers north of the La Cobaltera District. Cameo Cobalt’s flagship Chilean project is situated adjacent to Genlith Inc.’s (“Genlith”) subsidiary, Chilean Cobalt Corp, as per Genlith’s April 11 new release (Click Here). Genlith Inc. is a Pennsylvania based holding company focused on energy storage and critical battery materials and reports that cobalt production occurred on their Carrizal Alto and La Cobaltera projects from 1844 thru 1944, mostly for military applications ceasing at the end of World War II. Cameo’s CEO, Akash Patel states, “Cameo is excited to option the priority exploration properties adjacent to Genlith’s reported historical cobalt production at Carrizal Alto. We will immediately begin due diligence, and intend to follow up with exploration to define cobalt mineralization on our new mining concessions.” About the Carrizal Alto Cobalt Project The area acquired is in Carrizal Alto’s historic cobalt producing region and is located 100 kilometers north of the La Cobaltera District. Project Highlights: 456 hectares in Carrizal Alto district, Chile; Adjacent to historic operating site that has Chilean government production data with high-grade cobalt, as reported by Genlith Inc. (www.genlith.com); The Chilean National Service of Geology and Mining, Sernageomin, performed preliminary work on the La Cobaltera and Carrizal Alto areas in 2008. A November 2017 report by Chile’s Corporation for the Promotion of Production (“CORFO”) states that the San Juan District has cobalt mineralization in veins and mantos (hydrothermal bedded deposits). The report identifies the land package Cameo Cobalt has secured as within one of the main areas of cobalt mineral potential in Chile. In the San Juan-Carrizal district, primary cobalt mineralization occurs as cobaltite, a cobalt sulfo-arsenide. At surface, cobalt occurs as a secondary oxidized mineral, erythrite, a cobalt arsenate. Mineralization occurs mainly in veins and mantos with average cobalt concentrat...