Business
Cameo Cobalt to Acquire Big Mac Gold Project in British Columbia's Golden Triangle; Adjacent to Aben Resources Ltd.
VANCOUVER, British Columbia, Aug. 27, 2018 (GLOBE NEWSWIRE) -- Cameo Cobalt Corp. (TSX Venture: CRU) (OTC: CRUUF) (FWB: SY7N) (the “Company” or “Cameo Cobalt”)
About this update from Quebec Rare Earth Elements Corp
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 27, 2018 (GLOBE NEWSWIRE) -- Cameo Cobalt Corp. (TSX Venture: CRU) (OTC: CRUUF) (FWB: SY7N) (the “Company” or “Cameo Cobalt”) is pleased to announce it has entered into a share purchase agreement (the “Share Purchase Agreement”) to acquire Forrest Kerr Resources Inc. (“Forrest”), a privately-held British Columbia corporation which holds the Big Mac gold property, a large and prospective exploration project located in British Columbia's Golden Triangle. 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. Project Highlights Claims are contiguous with Aben Resources in the Golden Triangle; Positions Cameo Cobalt in the Golden Triangle; Known skarn-style mineralization on western property containing historic rock grab samples of up to 2.9 grams per tonne(g/t) gold (Minfile No. 104B367) and 9.0% copper (Minfile No. 104B493); and Eastern claim block overlie Hazelton volcanics/volcanoclastics. Akash Patel, CEO of Cameo states, “the acquisition of the Big Mac Gold Project gives Cameo access to a strategic land package located in British Columbia’s prolific Golden Triangle. The project is adjacent to Aben Resources and located immediately north of projects owned by Garibaldi Resources Ltd. and Colorado Resources Ltd. Given the success of this year’s exploration season, management is of the belief these mineral claims would be virtually impossible to assemble using traditional staking means. Cameo is working to engage a supplier with extensive regional experience to perform a late season work program. The Company plans to execute upon these contracts in the coming weeks, with the objective of identifying actionable targets for upcoming exploration initiatives. Cameo wishes to convey to its loyal shareholders that the Company is continuing to pursue its energy metals focus. However, the Company will always consider new opportunities to increase shareholder value.” About the Big Mac Gold ProjectThe 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 proje...