Vancouver, November 24, 2020 – Camino Corp. (TSXV: COR) (OTCQB: CAMZF) (WKN: A116E1) (“Camino” or the “Company”) is pleased to announce results from the next four holes (DCH-67, 68, 69, and 70) in its 2020 campaign on its Los Chapitos copper project located in Southern Peru’s Arequipa Department that commenced on October 2, 2020. There are four more additional drillholes that are pending assay results. Summary for all holes to date are presented in Table 1.
|HOLE ID||FROM (m)||TO (m)||WIDTH (m)
(not true width)
|GRADE (% Cu)|
|DCH – 066||10||101.2||92.1||0.52|
|DCH-068||No Significant Results|
|DCH-070||No Significant Results|
Table 1: Drill Intercepts for Holes DCH-066 to DCH-70
“The objective our drilling campaign has been to delineate copper oxide mineralization closer to surface and to make new discoveries. Our recent results have intercepted additional copper (Cu) mineralization by fence drilling at our Carlotta outcrop, including an additional 41 metres @ 0.29% Cu, from previously reported 92.1 metres @ 0.52% Cu, in hole DCH – 066 cutting through the Diva Fault. We also intersected near surface 15.5 meters @ 0.36% Cu intercepting the Diva Fault at the front of our Adriana outcrop along the Diva Trend in hole DDH-069. In order to meet a suitable mining tonnage and establish an oxide mining resource, we are also pursuing new discoveries within the Los Chapitos IOCG system. Future drilling will target oxide outcrops to the North (Photos 1 & 2) at Olga, Lourdes, and Condori,” said Jay Chmelauskas, CEO of Camino. “Drill hole DDH-070 was designed to intercept copper mineralisation near surface, and also test the Diva West area for a new discovery on the west of the Diva Fault. Drilling into Diva West intercepted highly altered and mineralized rock with sulphides estimated at up to 10%. However, our assays did not confirm our expectation of copper sulphides in the drilling intercepts. The Diva West volcanics do remain prospective based on oxide copper sampling at Olga (24m @ 0.56 % Cu) and a rockchip sample hosting 2.2% Cu and 49ppm Ag. The remaining holes in the drilling campaign test both the Diva Fault oxide mineralization and Diva West Zone.”
Figure 1: Section Locations and Interpreted Extents of the Diva West Sulphide Zone.
Figure 2: Section A-A’ “Carlotta” (Holes DCH-66, 67 and 68) showing near surface oxide mineralization (1) and deep mineralization on the Diva Fault (2).
Figure 3: Section B-B’ (DCH-069) with near surface oxide mineralization (1).
The “Diva West Sulphide Zone”
The following section for DCH-70 provides a summary of our current understanding of the Adriana/Diva mineralization.
Figure 4: Section C-C’ (DCH-70) showing near surface oxide mantos (1), the Diva Fault and associated mineralization (2), “Diva West Sulphide Zone” (3) and Olga Zone 200 meters to the west (4) (off section).
1. Near Surface Oxide manto mineralization.
2. “High Grade” mineralization associated with the Diva Fault extending to depth.
3. The “Diva West Sulphide Zone”. After drilling through overlying silica breccia DCH-70 intercepted a zone of previously unsuspected intense chlorite and argillic alteration from 148m to 221m with estimated 5% sulphides.
4. The “Olga Zone”. Historic sampling identified 24m at 0.56% Cu in a road cut approximately 200m to the west of the “Diva West Sulphide Zone”.
The presence of this mineralization to the west of the Diva Fault prompted us to test the extent of this new sulphide mineralized zone for copper sulphides by drilling past the Diva Fault and into the sulphide zone.
Holes DCH-71 to 74 have also drilled into the “Diva West Sulphide Zone” (as it is now known) and intercepted similar sulphide mineralization over similar widths, although results are still pending.
A provisional interpretation of the extent and trend of the Diva West Sulphide Zone is shown in Figure 4. Although subject to reinterpretation as further results come in, work to date indicates that the mineralized zone averages about 100m wide and extends NW-SE some 400m and is open at both ends.
“The Diva West Sulphide Zone represents a significant area of altered rock that shows classic IOCG-style alteration including potassic alteration, magnetite, and mushketovite” said Dr. Owen Miller, the Company’s Exploration Manager in Peru. “As we head North West along the Diva Trend, we find local miners have historically exploited high grade copper oxide mineralization in these same rocks and also see significant magnetic anomalies in the geophysical data. All the signs are there that we are on the trail of a major IOCG system.”
The Diva Trend, Lourdes, and Condori
Figure 5 shows the key features that lead the Company to believe that there is a large discovery to be made at Chapitos.
(a) The Diva Fault System extending almost 5 kilometers to the North West from Adriana to the Northern limit of the concession.
(b) Large alteration zones visible on satellite imagery are now mapped and sampled. The two main zones at Lourdes and Condori show favourable volcanic host rocks, potassic alteration, magnetite and outcropping oxide copper mineralization (see Photo 1 & 2).
Photo 1 & 2: Historical Workings at Lourdes NW Alteration Zone
(c) Geophysics show discrete magnetic anomalies on the Diva Trend and also adjacent to the large Lourdes alteration zone.
Figure 5: Diva Trend Targets.
Over the coming months the company plans to complete further geophysics (extending the magnetic survey to the North West with targeted IP surveys on the most prospective areas), more detailed mapping and sampling, and applying for drill permits on these new target areas.
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. Further results are pending.
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 has commenced field studies 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.caminominerals.com.
Owen D. W Miller, Ph.D FAusIMM(CP) a Qualified Person as defined by NI 43-101, has reviewed and approved the technical contents of this document.
|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, results of the balance of the current drilling program, on the interpretation of existing exploration 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.