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Cameo Cobalt Intersects 117.7 Meter Fully Mineralized Zone Including 1.95% Nickel, 0.14% Cobalt and 0.22% Copper Over 2.70 Meters at The Gochager Lake Project
VANCOUVER, British Columbia, July 25, 2018 (GLOBE NEWSWIRE) -- Cameo Cobalt Corp. (TSX Venture:CRU) (OTC:CRUUF) (FWB:SY7N) (the “Company” or “Cameo Cobalt”) is
About this update from Quebec Rare Earth Elements Corp
[{"type":"text","content":" VANCOUVER, British Columbia, July 25, 2018 (GLOBE NEWSWIRE) -- Cameo Cobalt Corp. (TSX Venture:CRU) (OTC:CRUUF) (FWB:SY7N) (the “Company” or “Cameo Cobalt”) is pleased to announce assays for Drillhole GL18001 has confirmed the presence of massive sulphide mineralization with high-grade Nickel and Cobalt values within a 117.7 meter mineralized interval. Cameo recently completed 725.4 meters of drilling in two drillholes, GL18001 and GL18002, at the Gochager Lake project, SK. Both drillholes were designed to test Nickel, Cobalt and Copper mineralization reported in historic drillhole I-12 drilled in 1966. Drillhole I-12 had reported high-grade Nickel and Cobalt intersections occurring within a mineralized zone that assayed 0.57% Nickel, 0.12% Copper over 290.5 meters. Assaying for Cobalt in drillhole I-12 was inconsistent. Composite grade intervals for GL18001: GL18001 Composite Grade Intervals Drillhole # From (m) To (m) Interval (m) Ni % Co % Cu % NiEq % GL18001 108.0 225.7 117.7 0.26 0.02 0.07 0.40 including 108.0 198.0 90.0 0.31 0.02 0.08 0.45 including 108.0 129.4 21.4 0.54 0.04 0.11 0.80 including 115.6 129.4 13.8 0.65 0.05 0.12 0.96 including 126.7 129.4 2.7 1.95 0.14 0.22 2.77 including 147.0 153.4 6.4 0.42 0.03 0.11 0.62 Including 147.5 150.0 2.5 0.68 0.05 0.18 1.02 including 173.0 188.0 15.0 0.43 0.03 0.16 0.66 *The intervals reported are not true widths**NiEq (Nickel Equivalent) was derived utilizing Nickel, Cobalt and Copper prices July 17, 2018; $6.10/lb, $31.53/lb and $2.74/lb respectively (USD) and calculation assumes 100% recovery Drillhole GL18001 was drilled south of and towards vertical drillhole I-12 at an inclination of -70°. 63% of the samples within the 117.7m interval assayed >1000 ppm Nickel. Within the 117.7m interval, disseminated to interstitial pyrrhotite (dominant) / chalcopyrite mineralization is consistent and locally occurs as zones of net-textured to semi-massive to locally massive mineralization. Mineralization is hosted in a Gabbro that locally shows evidence of shearing; notably, sections of intense foliation, along with localized shear zones and numerous quartz veins hosting massive pyrrhotite that typically assayed >10,000 ppm Nickel. The massive sulphide intersection at 126.7-129.4m is evidence that within the broad zone of mineralization, intervals of massive sulph...