Camino Minerals Corporation (“Camino” or the “Company”) (COR: TSX-V) is pleased to report results for the first diamond drill hole completed as part of the 2018 drill program on the Adriana Zone (“Adriana”) at its Los Chapitos Project (“Chapitos”), located in southern Peru.
Select drill highlights are:
- DCH-058 intersected 0.37% copper over 18.50 meters, including 0.53% copper over 6.10 meters.
DCH-058 was drilled 100 meters to the northwest of holes DCH-32 and DCH-34, which were on the westernmost section drilled in 2017. Hole DCH-58 is also northwest of the Adriana discovery outcrop, and was drilled below the ridge which features no copper mineralization on surface.
The hole confirmed that the mineralization and stratigraphy are continuing down dip as predicted, and in particular, is similar to the intersections in hole DCH-32 on the adjacent section (0.21% copper over 29.2 meters, Section 190 – Pad 1). A follow-up drill hole will be completed to drill below hole DCH-58 and test for thicker intervals of high grade mineralization similar as to those seen in holes DCH-34 (0.85% copper over 95 meters, Section 190 – Pad 1), DCH-19 (0.97% copper over 42 meters, Section 230 – Pad 2A), and DCH-12 (0.93% copper over 96.5 meters, Section 230 – Pad 2A). The Adriana Zone remains open for expansion in all directions as shown on the updated set of plans and sections which are available on the Company website at www.caminominerals.com.
Kenneth McNaughton, President and CEO, said, “The significance of this intersection is greater than what it may appear. It confirms the system can be extended into areas where there is little or no surface expression. It also means the exploration potential of the project is much higher than what we saw when we started work in 2017.
“Our initial work had targeted areas with outcropping mineralization, then expanded those zones through geophysics, trenching and drilling and now reveal what we believe are largely continuous zones of mineralization that remain open for expansion.
“With the completion of the successful soil survey in early 2018 along the Diva Structure, which revealed anomalous copper geochemistry along the six kilometer-long trend, this low cost method proved that geochemical sampling is an effective prospecting tool in an IOCG setting and will be used to evaluate the rest of the property.”
The copper mineralization is potentially more pervasive than outcrop would suggest so Camino has staked additional claims and increased the size of the project by 20% to over 14,000 hectares. A property-wide geochemical sampling program is now being planned with two primary objectives: (1) identify new zones of previously unrecognized mineralization and (2) to prioritize exploration over the entire property.
Meanwhile diamond drilling continues with a total of four additional holes having been completed testing for southeast extensions of the Adriana Zone. Surface work on the Maria geochemical anomaly has exposed the continuation of the Diva Structure cutting across a large area which appears to host favorable lithologies that have been highly altered and brecciated. The zone will need to be properly mapped and sampled prior to drilling.
Kenneth C. McNaughton, M.A.Sc., P.Eng., is the Qualified Person (QP) responsible for the Chapitos project.
Updated drill sections and summary presentation are presented separately and can be found on the company website at www.caminominerals.com.
Table 1: Selected Diamond Drill Results, (1,2)
| Hole
Number |
Pad #
Dip/Azimuth (degrees) |
From
(meters) |
To
(meters) |
Interval (meters) | Total Copper (%) |
Soluble Copper (%) |
| Adriana Zone | ||||||
| DCH-058 | Pad – 5 | 18.50 | 27.50 | 9.00 | 0.21 | 0.06 |
| -60/220 | 135.50 | 154.00 | 18.50 | 0.37 | 0.28 | |
| Incl. | 138.00 | 144.10 | 6.10 | 0.53 | 0.42 | |
| 190.00 | 200.00 | 10.00 | 0.21 | 0.12 | ||
(1)True thickness to be determined.
(2)All samples were submitted for preparation and analysis by ALS Chemex at its facilities in Lima, Peru. All samples were analyzed using multi-digestion with ICP finish and select samples were analyzed for gold using fire assay with AA finish. Samples over 1% copper were reanalyzed using four acid digestion with an ore grade ICP finish. Mineralized samples were analyzed for soluble copper by sequential leaching where they are first agitated at room temperature in a 5% sulphuric acid solution with the copper content measured by AA. The tails from the acid leach are then agitated in a 10% sodium cyanide solution with an AA finish to determine the amount of copper contained in secondary sulphides such as chalcocite and bornite. One in 20 samples was blank, one in 20 was a standard sample, and one in 20 samples had a sample cut from assay rejects assayed as a field duplicate at ALS Chemex in Lima, Peru.
About Camino Minerals Corporation
Camino is a discovery-oriented mineral exploration company. The Company is focused on the acquisition and development of high-grade copper and precious metal projects. For more information, please refer to Camino’s website at www.caminominerals.com.
For further information and investor inquiries, contact:
Ken McNaughton
President and Chief Executive Officer
Phone (604) 566-8778
info@caminominerals.com
http://www.caminominerals.com
Cautionary Note Regarding Forward-Looking Statements and Information
This News Release contains “forward-looking information” and “forward looking statements” within the meaning of applicable Canadian and United States securities legislation. Statements contained herein that are not based on historical or current fact, including without limitation statements containing the words “anticipates,” “believes,” “may,” “continues,” “estimates,” “expects,” and “will” and words of similar import, constitute “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking information may include, but is not limited to, information with respect to our planned exploration activities, the adequacy of our financial resources, the estimation of mineral reserves and resources, the results of future exploration and drilling. Wherever possible, words such as “plans”, “expects”, “projects”, “assumes”, “budget”, “strategy”, “scheduled”, “estimates”, “forecasts”, “anticipates”, “believes”, “intends”, “targets” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative forms of any of these terms and similar expressions, have been used to identify forward-looking statements and information.
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