Cameo Industries Corp. announced the acquisition of two platinum-group metals 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 and Sammy Ridgeline properties. The properties are along trend and in close proximity to active PGM-focused exploration projects owned by Clean Air Metals Inc. and Generation Mining Ltd.
Richview Pine Project is approximately 5,000 hectares in size and divided into four properties, located approximately 30 kilometers (km) west of Marathon, Ontario, and adjacent to Generation Mining’s Marathon Palladium Project several kilometers (km) to the east.
The adjacent Marathon Palladium Project contains an open-pit measured and indicated resource of more than 179 million metric tons (mt) at 0.56 g/mt palladium (Pd), 0.18 g/mt platinum (Pt), 0.20% copper (Cu), 0.07 g/mt gold (Au), 1.6 g/mt silver (Ag), or 1.24 g/mt Pd equivalent (PdEq) resulting in 3.24 million oz contained Pd, 1.06 million oz contained Pt, 796 million lb Cu, 390,000 oz contained Au, and 9.34 million oz contained Ag (7.13 million oz PdEq) using an NSR cut-off value of C$13/mt. 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.
