Vancouver, October 6, 2020 – Camino Corp. (TSXV: COR) (OTCQB: CAMZF) (WKN: A116E1) (“Camino” or the “Company”) is pleased to announce that drilling has started on its Los Chapitos copper project located in Southern Peru’s Arequipa Department.
Diamond Drillhole DCH-066 collared on the 2nd of October is the first drill hole of a planned 3,000 meter program that adds to the 19,161 meters already drilled on the project in 2017 and 2018. The hole is designed to test near surface oxide mineralization on the Carlotta target (See attached picture) and deep high-grade sulphide mineralization on the Diva Fault.
“Our first drill hole at the Carlotta outcrop, is located 400 m south of the discovery made at the Adriana outcrop in 2017. The two outcrops look similar and show oxidized copper hosted in Chocolate Formation volcanics,” said Jay Chmelauskas, President & CEO of Camino. “We will also be testing a potential new discovery at Diva West, an area of undrilled copper mineralization, hosted in the same Chocolate Formation and located several hundreds of meters to the west of the main mineralized Diva Structure. We are working towards expanding mineralization to define a maiden resource on and along the Diva structure, and at the same time begin to determine the potential size of the Los Chapitos IOCG system.”
“At Chapitos we have been actively incorporating new geochemical and mapping information into our models to improve our understanding of the geology,” said Owen Miller, the Company’s Exploration Manager in Peru. “The current drill campaign reflects this work and new target areas have been highlighted at Diva West that may redefine our geological interpretation for the whole Los Chapitos Project.”
Figure 1. Planned drillholes, previous drilling and alteration
(Previous drilling see NI 43-101 Report April 3, 2018)
- Adriana Infill – previous drilling focused on the Adriana Zone as can be seen in Figure 1. Mineralization can be roughly grouped into a) shallow oxide mantos and b) deeper high grade sulphide mineralization associated with the Diva Fault.
There is considerable upside to extend and connect previously defined mineralized bodies in both categories, with the eventual goal of producing a maiden resource.
- Diva West – to date very little drilling and sampling has been undertaken to the west of the Diva Fault, except along the Atajo mineralized trend. While regional mapping suggests the underlying geology was less prospective intrusive, Camino has a new interpretation.
Camino’s July 2020 mapping and sampling program has delineated large areas of favourable Chocolate Formation andesite and silica breccia to the west of Adriana that extends over 1 sq km. Historic sampling of the silica breccia returned values of up to 2-3% Cu and recorded 24 m @ 0.56% Cu along a road cut (“Olga”) 300 meters to the North West (for further details see NI 43.101 Report April 3, 2018).
The same mapping and sampling program returned values in sub-crop of up to 2.1% Cu and 45 g/t Ag approximately 100m south of the Olga road cut.
This entire undrilled and under-sampled package has been called the “Diva West Zone” and is planned to be diamond drill tested for the first time with this program.
- South-East Extension – previous drilling, mapping and sampling shows that the Chapitos mineralization extends to the South East following the Diva Fault. It does however seem to become more structurally controlled. There are three holes planned to test the continuity of the mineralization, and these holes will be prioritized around drilling at Diva West.”
Figure 2. Carlotta Target – Drillhole DCH-066
The drill hole is targeting near surface oxide copper mineralization that outcrops all way the from the rig, downslope approximately 150 metres out of the frame to the Diva Fault.
Core is being logged and sampled at the company’s facilities in the town of Chala 15 km from the project. Samples are sent to Lima to be analysed by ALS Chemex with the first results expected the last week of October.
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, towards potential resource delineation and new discoveries. 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.caminominerals.com.
Owen D. W Miller, Ph.D FAusIMM(CP) a Qualified Person as defined by NI 43-101, has reviewed and approved the scientific and technical information contained in this news release. Mr. Miller has reviewed and verified all data, including sampling and analytical data, in respect of all such scientific and technical information.
|ON BEHALF OF THE BOARD||For further information, please contact:|
|/S/ “Jay Chmelauskas”||Camino Investor Relations|
|President and CEOfirstname.lastname@example.org|
|Tel: (604) 608-4513|
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 prospectivity of the project for future exploration, defining new mantos, new areas of discovery and drilling planned on the Los Chapitos copper project and that actual results of exploration and engineering activities are consistent with management’s expectations. 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.
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.