Cameo Resources samples average 12.26 g/t Au at Katoro

Executive Summary

• Cameo Resources Inc. released assay results from samples collected during a site visit to its Katoro gold properties in Tanzania, reporting an average grade of 12.26 g/t Au from alluvial material.
• The company is conducting a high-resolution drone magnetic survey to delineate structural controls for gold mineralization, with approximately 230 line kilometers of data acquisition underway.
• The Katoro property is situated within the prospective Lake Victoria goldfield, surrounded by active artisanal and small-to-medium-scale mining operations yielding high-grade gold.

Key Details

• Sample Results (Alluvial Material): Multiple samples taken from active artisanal mining pits on the property ranged from 1.63 g/t Au to 34.2 g/t Au, averaging 12.26 g/t Au. Samples consisted of grey mottled quartz vein with moderate fracturing and strong iron-oxide staining.
• Comparative Hard Rock Sample: Quartz vein material sampled from an active hard rock mine located 5 km from the property assayed 9.85 g/t Au.
• Surrounding Operations Assays: Samples taken from a hard rock operation less than 200 meters from the property boundary returned assays ranging from 12.58 g/t Au to 238.74 g/t Au, averaging 108.83 g/t Au.
• Nearby Development: An operation 500 meters from the property boundary is developing an open pit (approx. 200m x 150m), a custom milling/processing plant, and a leach pad.
• Geophysical Survey: Cameo engaged HETAMIS Mineral Services Ltd. for a high-resolution drone magnetic survey covering the Katoro properties.
  • Scope: Approximately 230 line kilometers with 35 line kilometers of tie lines.
  • Equipment: MagArrow II drone-mounted magnetometer.
  • Methodology: Systematic grid with 50m line spacing, oriented north-south perpendicular to the east-west regional structural trend.
  • Objective: Generate total magnetic intensity (TMI), vertical derivative, and reduced-to-equator (RTE) maps to identify shear zones, faults, and structural intersections controlling gold mineralization.
• Property Details: The Katoro properties cover 12.52 square kilometers in the Geita region of the Lake Victoria goldfields (LVGF). The area is characterized by iron carbonate altered mafic volcanics and quartz feldspar porphyry intrusions, with gold associated with grey quartz veins parallel to east-west shear zones.
• Regulatory Status: A Qualified Person (QP), Brian Thurston, PGeo, visited the property in June and is currently completing a National Instrument 43-101-compliant report.

Notable Quotes

• "The Katoro property is uniquely situated in the centre of many currently active gold operations. Multiple privately run mills are in operation exploiting gold rich structures less than 100 metres from surface, and small- to medium-scale mining and processing operations are located as close as 200 metres from the company's property boundary. The high gold values from the Katoro property are not surprising to see the based on all the activity surrounding the claims. It will be exciting to see the results of the fast-tracked geophysical work currently being undertaken to help delineate the mineralization potential of this highly prospective property." — Brian Thurston, PGeo