Cameo identifies 80 drill targets at Katoro

Executive Summary

• Cameo Resources Inc. has received a final technical report for its 100%-owned Katoro gold property in Tanzania, identifying five distinct mineralized zones based on drone-mounted magnetic and induced polarization (IP) data.
• The report generated 80 high-priority drill targets, with the company planning an immediate phased drilling campaign starting with 10 to 15 holes to evaluate the first two zones.
• Drilling is expected to commence as early as February, following the selection of a contractor, with the goal of fast-tracking exploration based on high prospectivity indicators similar to nearby major mines.

Key Details

• Geophysical Findings: Integrated interpretation identified five distinct mineralized zones at varying depths (surface to ~100 meters). These zones extend beyond current project boundaries, suggesting additional exploration potential.
• Geological Characteristics: Zones show three significant trends aligned with magnetic lineaments (faults/shear zones), notably an east-west trend mirroring the Tembo gold deposit.
• Mineralization Indicators: Prospective zones exhibit moderate to high chargeability values (up to 250 mV/V) and low-intermediate resistivity (10–700 meters), indicative of disseminated sulphides and gold mineralization within Precambrian rocks and quartz veins.
• Drill Targets: A total of 80 drill holes were proposed based on the technical report.
• Immediate Action Plan: The company is designing a 10- to 15-drill-hole program to evaluate the first two of the five identified mineralized zones.
• Timeline: Bids have been solicited from qualified drilling contractors in Tanzania; a contract is expected to be locked in shortly, with drilling anticipated to begin as early as February.
• Property Details: The Katoro property covers 19.58 square kilometers in the Sukumaland goldfields, Lake Victoria goldfields, North Tanzania. It is located near the Tembo gold mine (~7 km northeast) and the Buckreef gold mine (~15 km northeast).

Notable Quotes

• "The company's goal of targeting mineralization and fast-tracking a drill campaign is now close to completion with 80 priority drill targets having been generated in only four months on the property. The team has proven their commitment by quickly delivering on this first ever drilling of the Katoro property using modern science as a guide. The results from the technical report indicate the high prospectivity for gold mineralization to be discovered on the Katoro property and the company is extremely encouraged as they continue to see similarities between the Katoro property and the Tembo gold mine approximately seven km northeast and the Buckreef gold mine approximately 15 km northeast." — Brian Thurston, PGeo, Technical Adviser