The Richview Pine Project is focused on the western margin of the Coldwell Complex, one of the largest alkaline complexes in North America
Cameo Industries Corp. (CSE: CRU) (OTC: CRUUF) (FWB: SY7N) (the “Company” or “Cameo”) is pleased to announce the acquisition (the “Acquisition”) of two platinum-group metals (“PGM”) projects, approximately 27,500 hectares in size, in the Thunder Bay Mining District of Ontario. These two newly acquired PGM projects are referred to as the Richview Pine (“Richview Pine Project”) and Sammy Ridgeline (“Sammy Ridgeline Project”) properties (collectively the “Properties”). The Properties are along trend and in close proximity to active PGM-focused exploration projects owned by Clean Air Metals Inc. (TSX-V:AIR) and Generation Mining Ltd. (TSX:GENM).
The Richview Pine Project is approximately 5,000 hectares in size and divided into four properties (Figure 1), located approximately 30 km west of Marathon, Ontario and adjacent to Generation Mining’s Marathon Palladium Project several kilometres to the east. The adjacent Marathon Palladium Project contains an open-pit Measured and Indicated Resource of 179.25 million tonnes at 0.56 g/t Pd, 0.18 g/t Pt, 0.20% Cu, 0.07 g/t Au, 1.6 g/t Ag (1.24 g/t PdEq) resulting in 3.24 Moz contained Pd, 1.06 Moz contained Pt, 796 Mlb copper, 0.39 Moz contained Au, and 9.34 Moz contained Ag (7,130,000 PdEq ounces) using an NSR cut-off value of C$13/tonne (reference: NI 43-101 Technical Report, Updated Mineral Resource Estimate, and Preliminary Economic Assessment of the Marathon Deposit for Generation Mining prepared by P&E Mining Consultants with an effective date of January 6, 2020, filed on SEDAR under Generation Mining Ltd.). Readers are cautioned that mineralization and mineral resource estimates on adjacent and/or nearby properties are not necessarily indicative of mineralization on the Richview Pine Project (please refer to additional cautionary statements below).
The Richview Pine Project is focused on the western margin of the Coldwell Complex, one of the largest alkaline complexes in North America, which hosts and/or is associated with the platinum-palladium mineralization in the Marathon Palladium deposit. The geology of the Richview Pine Project consists of felsic-mafic volcanic rocks, sedimentary rock assemblages, and gnessic tonalites, which are crosscut by mafic intrusions. Based on past geological work, similar trending faults that intersect the Marathon Palladium Project and the Coldwell Complex may also intersect the Richview Pine Project, and Cameo intends to investigate these potential faults further as part of its upcoming exploration programs.
Source: Company Press Release