In early 2024, Camino’s step-out drilling campaign explored for new zones of oxide copper mineralization with a total of 2,225.7 metres consisting of 15 drillholes to depths of ~150 metres (see news release dated April 11, 2024). Drillholes targeted new areas more than 2 km from the known copper mineralization in the Adriana copper zone. The program was designed to test for buried copper stratabound mantos located near the copper-controlling structures like the Diva Fault Trend and was successful at identifying or extending two new high-grade copper areas at the Diana and Lourdes zones.
The 2024 exploration goals are focused on the structural corridor: the Estancia fault, Lagunillas, Atajo, and the Diva trends, to understand a Riedel system, mainly in the secondary structures, where they could be enriched by copper mineralization.
In June 2023, Camino announced that it has entered into a definitive agreement with Nittetsu Mining Co., Ltd., to further develop the Los Chapitos copper project, with exploration activities commencing immediately after the signing of the agreement. Under the terms of the agreement, Nittetsu can earn a 35% interest in the Project by making payments and expenditures totalling CAD $10,100,000 over three years. Proceeds will be applied towards exploration, infill drilling, and metallurgical and engineering studies. After successful completion of the earn-in period, the Project will become a Joint Venture, whereby Camino will hold a 65% interest, remain operator of the Project, and retain 50% of the production off-take.
In June 2023, Camino received approval of the Evaluation of the Environmental Impact Study (EIA) for the Los Chapitos, expanding the area permitted for exploration to 6,012.50 hectares. The expanded permit allows for significant copper exploration over new areas of known copper mineralization with exploration partner Nittetsu Mining. The company can now target exploration drilling at the Lagunillas, Diva, and part of the Atajo copper mineralized structural trends that cumulatively extend over 20 km.
In the second half of 2023, together with its project partner Nittetsu, Camino conducted a mapping campaign and a drone geophysics survey that focused on copper mineralized structures next to porous geological strata that could host bulk manto-style copper mineralization for follow-up exploration drilling. This program resulted in the identification of the La Estancia fault that extends for 12 kilometers in a northwest direction. Camino has previously made copper discoveries on either side of this structure, drilling significant copper intercepts along secondary fault structures such as at Adriana, Lourdes, and Atajo. This fault is defined as a “Escama Gruesa” (thick flake), the implication in the understanding of the metallogenic processes in the Los Chapitos Mining District has allowed us to recognize the great exploratory potential of the 22,000 hectares of the project in which we have the possibility of finding Iron Oxide-Copper-Gold (IOCG), and Jurassic Stratabound deposits, a geological context that allows us to compare ourselves to the Punta del Cobre / Candelaria Mining District in Chile.
In 2022, a diamond drilling program consisting of 18 drill holes and 1,514 meters was carried out in the Lourdes – Condori zone, continuing with the geological evaluation of the northern sector of the Diva trend. During this campaign Camino’s geological team generated a successful exploration plan that allowed the discovery of the Lourdes body (see news release dated September 7, 2022).
In 2021, Following up on the success of the 2020 drilling program consisting of 9 drill holes and 2,358 meters, Camino expanded exploration targets along the 10 km Diva Trend. Drill targeting focussed on large alteration anomalies to the north of the 2020 drill program as well as to the south to target large geochemical anomalies. During the 2021 drilling program, consisting of 5 drill holes and 1,368.45 m, the Camino team developed a diamond drilling program in the Lidia zone, where the 3 drillholes drilled cut a style of stratabound Cu-Ag mineralization that intercepted up to 0.34% copper and 0.36 ppm gold (see news release dated December 14, 2021). To the south, the company targeted copper oxide outcrops, flow breccia outcrops, and geochemical and geophysical anomalies that are controlled by the Diva Trend.
