An explorer, with significant projects in cobalt, gold, copper, silver and lithium has acquired a new copper-cobalt-nickel property in northern Canada.
Cameo Resources Corp has announced that it has entered into an agreement to acquire 100% of the Gochager Lake Nickel-Copper-Cobalt project from the U.S company, Lithium Corp.
Consisting of four claims covering 3,759 hectares, the project is located in northern Saskatchewan approximately 75 km north of the town of La Ronge.
Historical exploration has identified semi-massive and massive Ni-Cu occurrences with significantly elevated levels of cobalt, a vital component in the manufacture of the latest generation of lithium ion batteries.
The acquisition, and growth of its portfolio in lithium exploration, comes as the demand for lithium ion batteries will only continue to rise through the increase in production of electric vehicles.
Akash Patel, President of Cameo states, “Cobalt prices are trading at 10-year highs, as demand continues to surge and very little supplementary supply to compensate has emerged. The demand for battery metals appears to be at the beginning of long-term bullish cycle,”
“Cameo continues to tactically position itself for the enviable stampede to secure sustainable energy metal deposits. Recently, Apple Inc. announced it is in negations to purchase cobalt directly from miners with sustainable supply chains and legitimate extraction practices. Cobalt is a critical ingredient in lithium-ion batteries that power Apple’s iPhones, iPads, Apple Watch, and MacBooks. The Company is very much excited to have secured a cobalt project with such a high degree potential to capitalize on this megatrend.”