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Cameo Cobalt Samples 11.28% Cu and 0.13% Co at Flagship Chilean Carrizal Alto Project

VANCOUVER, British Columbia, Dec. 06, 2018 (GLOBE NEWSWIRE) -- Cameo Cobalt Corp. (TSX Venture: CRU) (OTC: CRUUF) (FWB: SY7N) (the “Company” or “Cameo Cobalt”) is pleased to announce that further to its news release dated October 4, 2018, the Company has received Cu assay and multi-element geochem results from its Carrizal Alto (“Carrizal”) hard rock sampling program. Cameo Cobalt is extremely encouraged by the initial sample results, which are bolstered by strong support from the Chilean Ministry of Mines pertaining to the development of the company's flagship energy metals assets.

The samples were collected during the initial site visit on October 11, 2018 by Cameo Cobalt personnel, and a consulting Chilean geologist (P.Geo) familiar with the area

The Company is currently collaborating with Ridgeline Exploration Services Inc., as well as its Chilean geological team, to formulate a detailed year-round exploration program focusing on its Chilean cobalt projects. Cameo Cobalt expects to commence a comprehensive work program on its Carrizal Cobalt project during the second quarter of 2019.

All rock samples were transported under strict chain of custody to the MS Analytical Laboratories in Vancouver, B.C. Each sample was crushed to 70 per cent passing two millimetres then a 250-gram split is taken and pulverized to 85 per cent passing 75 microns, subject to a four-acid digestion, and then analyzed by ICP-AES/MS for a 39-element package.  Cu was assayed for potential ore grade results.

Sample ID ICF-6Cu
Cu
%
0.01
IMS-117
Au
ppm
0.001
IMS-117
Co
ppm
0.1
Carrizal 1 - 0.182 391.7
Carrizal 2 2.602 0.108 145.7
Carrizal 3 1.453 0.327 106.8
Carrizal 4 1.793 2.224 310.5
Carrizal 5 11.278 0.734 225.9
Carrizal 6 1.778 0.04 1304.0
Carrizal 7 1.875 0.131 239.7
Carrizal 8 5.77 0.506 583.6

Rock samples are selected surface grab samples and are not necessarily representative of the mineralization hosted on the property.

Akash Patel, CEO of Cameo Cobalt stated: “The Company is pleased to report its initial Carrizal sample assays to the market. Cameo will continue to advance its Carrizal Cobalt project and hone in on the cobalt mineralization.”

Carrizal Cobalt Project

The area acquired is in Carrizal Alto's historic cobalt-producing region and is located 100 kilometres 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.

The Company’s Carrizal Cobalt Project is situated in part adjacent to Genlith Inc.'s Carrizal Alto Project (see Genlith's news release dated April 11th). Genlith Inc. is a Pennsylvania-based holding company focused on energy storage and critical battery materials.

/EIN News/ -- Genlith has reported that cobalt production occurred on its Carrizal Alto projects from 1844 through 1944, mostly for military applications ceasing at the end of the Second World War. Genlith’s Carrizal Alto development plans include expedited drilling and dimensioning programs on high-grade past producing mines with the objective of providing a clear path to full-scale production. This information is not necessarily indicative of the mineralization on Cameo’s property. Cameo personnel have not verified this information from Glenlith’s Carrizal Alto Project.

The Company’s Carrizal Cobalt claims map can be found by following the below URL link:

https://cameocobalt.com/wp-content/uploads/2018/09/CRU-Carrizal-Map.pdf

Samples were collected from the “La Ganadora II” claim adjacent to the south of Glenlith’s Carrizal Alto Project.

Qualified person

Dr. 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 presented in this news release.

CAMEO COBALT CORP.
“Akash Patel”

For more information contact:
(778) 549-6714

Or Email: lucasbirdsall@gmail.com
www.cameocobalt.com

Reader Advisory

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.

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