Vancouver, September 07, 2022 – Camino Corp. (TSXV: COR) (OTC: CAMZF) (WKN: A116E1) (“Camino” or the “Company”) is pleased to announce the final results of the 2022 drilling campaign at its Los Chapitos copper project (“Los Chapitos”). Camino achieved its exploration goal to successfully drill new satellite copper discoveries 1.4 to 2.2 km north of its main zone of copper mineralization (see Figure 1 and Table 1). The campaign consisted of 1,513 meters of diamond drilling and identified several new satellite areas for follow-up copper and silver exploration drilling. Camino’s exploration strategy at Los Chapitos is to drill for additional copper oxide tonnage that could support a copper heap-leach mine (see Video Series, Part 1). The copper intercepts highlighted below represent a new high-grade copper satellite discovery at Los Chapitos.
The Company believes that Los Chapitos is approaching the minimum tonnage required to support a small-scale mining operation, and that these latest results indicate the potential for additional copper tonnage. With a land package of 220 square kilometers, the Company plans to continue its drilling efforts with its overall strategy to determine the size potential of an envisioned copper mine, as new drilling permits become available.
Highlights:
Lourdes Mineralized Zone
- 55.5m @ 0.93% Cu from surface, including 7.5m @ 2.58% Cu in DCH-97
- 65.2m @ 0.70% Cu from surface, including 31m @ 1.23% Cu in DCH-80
- 19.5m @ 1.34% Cu from 55m depth, including 7.4m @ 2.32% Cu in DCH-89
- 5.1m @ 1.32% Cu from 29m depth in DCH-92
- 22.6m @ 0.64% Cu from 73m depth in DCH-96
Condori Mineralized Zone
- 28m @ 0.41% Cu, including 14.4m @ 0.60% Cu in DCH-83
- Trace gold (Au) anomalies grading from 6 ppb to 141 ppb Au
Figure 1. Plan map of mineralization zones at Los Chapitos, Peru
“The Lourdes satellite discovery has multiple drillhole intercepts of high-grade copper from surface,” said Jay Chmelauskas, CEO of Camino Corp. “This satellite deposit will add oxide tonnage to the resources previously drilled at the Adriana Zone. Our drilling campaign has demonstrated an extensive copper system at Los Chapitos and our efficacy to intercept new copper mineralization on substantial step-out exploration holes. Our exploration will focus on these mineralized structures and at identifying lithological units that can host bulk tonnage copper deposits adjacent to them.”
Jose Bassan, Chief Geologist at Camino said, “the high-grade copper mineralization discovered at Lourdes is controlled by two cross-cutting faults and it is the new North-South fault system that is opening a new corridor for follow-up drilling at Lourdes and more exploration. In addition, the copper intercepts at Condori, combined with the alteration and lithology sequence, support follow-up exploration.”
Table 1. Summary of Drill Results August 2022, Los Chapitos Copper Project, Peru
Figure 2. Site Map of 2022 Drilling Campaign, Los Chapitos, Peru
Figure 3. Location Map of the Los Chapitos Copper Project, Peru
Lourdes Copper Mineralization
A new satellite discovery was made during the 2022 drilling campaign at Los Chapitos. The Lourdes discovery is supported by the following drillhole intercepts:
- 55.5m @ 0.93% Cu from surface, including 7.5m @ 2.58% Cu in DCH-97
- 65.2m @ 0.70% Cu from surface, including 31m @ 1.23% Cu in DCH-80
- 19.5m @ 1.34% Cu from 55m depth, including 7.4m @ 2.32% Cu in DCH-89
- 5.1m @ 1.32% Cu from 29m depth in DCH-92
- 22.6m @ 0.64% Cu from 73m depth in DCH-96
The Lourdes mineralized zone covers an area of 30 to 40 meters wide, striking in a north-south direction by 100 meters, and extends to depths of 70 meters (see Figures 4 and 5). Mineralization remains open along strike and at depth. The mineralization observed in drill core is soluble oxides of malachite, chrysocolla, brochantite, tenorite, pitch limonite, and occasional sulphides consisting of chalcocite, chalcopyrite, bornite, and covellite (see Photo 1 and Video Series 3). Camino plans to begin solubility testing on select intervals of copper mineralization to determine amenability to heap-leaching.
Photo 1. Mineralization at Lourdes, Los Chapitos, Peru
Mineralization controlled by major fault structures plays an important role at Lourdes. The main copper-bearing Diva fault that trends north-west is intersected by a north-south trending fault that provides copper feeders to the receptive Chocolate Formation host rock. Camino is exploring for lithology within the volcanic sequence at Los Chapitos to host bulk tonnage copper deposits.
Figure 4. Cross section of copper mineralization at Lourdes Zone, Los Chapitos
Figure 5. Longitudinal section of copper mineralization at Lourdes Zone, Los Chapitos
Condori Copper Mineralization
Copper mineralization at Condori was confirmed in two fault structures located on the periphery of a broad 1.0 km by 1.0 km hydrothermal alteration system (see Photo 2). Drill holes DCH-083, intercepted 28m @ 0.41% Cu, including 14.4m @ 0.60% Cu (see Figure 6). Camino believes that this copper mineralization, along with the broad halo of hydrothermal alteration, provides the potential for primary sulfide mineralization at depth as a target for follow-up drilling.
Photo 2. Artisanal mining exposes copper oxides in fault structures at Condori, Los Chapitos
Figure 6. Copper mineralization at Condori Zone, Los Chapitos
Sampling and Assay Procedures
During this campaign, 18 drillholes were completed. Core has been logged and sampled at the Company’s facilities in the town of Chala, 15 km from the project. Industry standard chain of custody and QA/QC practices are followed with samples sent to Lima where they are analyzed by ICP-MS at ALS Chemex Labs’ facility. The Camino geological team complied with the written internal QA/QC procedures, where the insertion of blank samples, certified international standards (pulps) and duplicates, met the objectives and acceptable results.
About Camino Minerals Corporation
Camino is a discovery and development stage copper exploration company. The Company is focused on advancing its high-grade Los Chapitos copper project located in Peru through to resource delineation and to add new discoveries. Camino is also permitting the Maria Cecilia copper porphyry project towards a planned exploration drilling program. In addition, the Company has increased its land position at its copper and silver Plata Dorada project. The Company seeks to acquire a portfolio of advanced copper assets that have the potential to deliver copper into an electrifying copper intensive global economy. For more information, please refer to Camino’s website at www.caminocorp.com.
Jose Bassan MAusIMM (CP) 227922, MSc. Geologist, a Qualified Person as defined by NI 43-101, has reviewed and approved the technical contents of this document. Mr. Bassan has reviewed and verified relevant data supporting the technical disclosure, including sampling and analytical test data.
| ON BEHALF OF THE BOARD | For further information, please contact: |
| /S/ “Jay Chmelauskas” | Camino Investor Relations |
| President and CEO | info@caminocorp.com |
| Tel: (604) 493-2058 |
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements: Certain disclosures in this release constitute forward-looking information. In making the forward-looking disclosures in this release, the Company has applied certain factors and assumptions that are based on the Company’s current beliefs as well as assumptions made by and information currently available to the Company. Forward-looking information in the release includes the potential development of a heap-leach mine, the results of additional exploration drilling, and the prospectivity of the oxidized and sulphide copper exposed at the Lourdes-Condori Zones. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release is subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information. Such risk factors include, among others, that actual results of the Company’s exploration activities will be different than those expected by management, that the Company will be unable to obtain or will experience delays in obtaining any required approvals and the state of equity and commodity markets. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
