About Cameo Cobalt Corp.
Cameo Cobalt has three significant assets: the Carrizal and Montreal cobalt projects in Chile, as well as the Big Mac gold project located in BC’s prolific Golden Triangle. The Company has commitment to ethical energy metals exploration in the Southern hemisphere. Cameo Cobalt believes that the electric vehicle revolution is still in its infancy, yet cobalt production remains in a deficit position.
CARRIZAL COBALT PROJECT
• Chile’s CarrizalAlto’s historic cobalt region, located 100 kilometresnorth of the La Cobalteradistrict.
• Cameo Cobalt’s flagship Chilean project is situated adjacent to GenlithInc.’s subsidiary, Chilean Cobalt Corp., as per Genlith’sApril 11 news release.
• 456 hectares in CarrizalAlto district, Chile;
• Adjacent to historic operating site that has Chilean government production data with high-grade cobalt, as reported by GenlithInc.
MONTREAL COBALT PROJECT
• Consists of 16 mineral claims and comprises a total of 4,500 hectares.
• Comprises a total of 4,500 hectares. The Company’s Montreal Cobalt Project is less than 2 kilometres away from the past producing Merceditasmine.
• The acquisition has entrenched Cameo Cobalt in two of the three historic cobalt-producing regions of Chile.
• Cameo Cobalt holds an option to acquire a 100% undivided, unencumbered legal and beneficial interest in the Montreal Cobalt Project, located 15 km southwest of Santiago in the past producing Metropolitan Region of Chile.
BIG MAC GOLD PROJECT
• Consists of 12 mineral claims structured into three tenure blocks. • The district-scale project comprises a total of approximately 9,264 hectares (about 22,881 acres)
• Offers close proximity to the Essay Creek access road and the newly constructed Alta Gas McLymonthydro-power facility.
• Represents the largest claim package contiguous with AbenResources’ Forrest Kerr gold project which recently disclosed drill results indicating multiple high-grade zones including 62.4 g/t gold over 6.0m within 38.7 g/t gold over 10.0m at its Forrest Kerr project
Recent Press On CRUUF
Cameo Closes Acquisition of Max Mine and Mill, Willa Property
VANCOUVER, British Columbia, March 06, 2019 (GLOBE NEWSWIRE) — Cameo Cobalt Corp. (TSX Venture: CRU) (OTC: CRUUF) (FWB: SY7N) (the “Company” or “Cameo”) is pleased to announce that further to its news release dated January 14, 2019, the Company has received final TSX Venture Exchange approval for the purchase of mining assets in an arm’s length transaction from MX Gold Corp. (the “Vendor”) for a combination of cash, common shares of the Company and the grant of a 50% net profit interest in the two mining properties going forward, as follows:
- FortyTwo Metals Share Purchase Agreement dated January 11, 2019, whereby the Company has agreed to purchase from the Vendor all of the issued and outstanding shares of the Vendor’s wholly-owned subsidiary, FortyTwo Metals Inc. (“FortyTwo”), for aggregate consideration of $578,982.76 consisting of $53,982 to renew certain mineral claims of the MAX Property owned by FortyTwo, $150,000 in cash and 5,000,000 common shares of the Company at a deemed issue price of $0.075 per share. The Company has also agreed to grant a 50% net profit interest on gross cash income from the MAX Property to the Vendor (less all expenses incurred to produce such income which is payable only once the Company has recouped from net profits its capital investment in the MAX Property and all pre-production costs). FortyTwo holds the past producing MAX molybdenum mine and mill located in British Columbia and a CDN$730,000 reclamation bond for the MAX Property held with the British Columbia Ministry of Mines. FortyTwo is also subject to certain legacy liabilities associated with prior operations.
- Willa Property Purchase, Sale and Assignment Agreement dated January 11, 2019, whereby the Company has agreed to purchase from the Vendor the Willa Property in British Columbia for a purchase price of CDN$1 and the assumption of certain legacy obligations associated with the Willa Property, including a net smelter royalty, advance royalty payments, and the requirement to retransfer the property back to the original optionors if the property is not in commercial production on or prior to September 28, 2020 with the underlying mineral claims in good standing for a period of not less than three years. The Company has also agreed to grant a 50% net profit interest on gross cash income from the Willa Property to the Vendor (less all expenses incurred to produce such income which is payable only once the Company has recouped from net profits its capital investment in the Willa Property and all pre-production costs).
The principal assets covered by this transaction are now 100% owned by Cameo. Akash Patel, Chief Executive Officer and a Director of Cameo, stated: “The acquisition of the past producing MAX molybdenum mine and mill, as well as the Willa property, are watershed purchases for Cameo. The Company now holds claim to a turnkey mine and mill complex, which will act as a material catalyst for corporate development and growth.”Read the full article here.
Read the full article here.
Big acquisition news, unreal short-term technicals, and a chart that looks ready to burst drives me to believe that CRUUF could be your next breakout play and a cobalt alert that packs tremendous upside potential.
I’ve handed over the pertinent details. Now it’s your turn to do your part and research CRUUF as Monday morning’s bell will be here before you know it!
I’ll be in touch over the weekend. Have a good one and talk soon.
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