Vancouver, December 11, 2023 – Camino Minerals Corporation (TSXV: COR) (OTC: CAMZF) (WKN: A116E1) (“Camino” or the “Company”) is pleased to announce that it has entered into a contract with Geotecnica Y Construcciones Del Peru S.A.C. (“GCP”), to complete 2,000 meters of core drilling at its Los Chapitos Copper Project (“Los Chapitos” or the “Project”) in Peru. GCP is a Peruvian drilling company with a successful track record of drilling programs in Peru since 2011. The drilling rig will mobilize to Los Chapitos on December 18th, with the drilling campaign expected to commence on December 22, 2023. The upcoming campaign is fully funded through a CAD$1.5 million earn-in payment by Camino’s exploration partner at Los Chapitos, Nittetsu Mining Co., Ltd. (see news release dated November 23, 2023).
“The commencement of drilling in December at Los Chapitos sets a strong start to our planned exploration programs in Peru through 2024,” said Jay Chmelauskas, President and CEO of Camino. “The Los Chapitos copper property is thought to be part of a major IOCG copper system, and this drilling program is designed to grow the project by making new discoveries and potentially expanding known copper mineralized zones.”
The drilling campaign will focus on targeting additional copper oxide targets and potential copper sulphide mineralization. This campaign will generally focus on copper mineralization targets along the Diva Structural Fault that extends for over 8km, which is one of several mineralized trends at Los Chapitos (see Figure 1 and Figure 2).
Figure 1. Copper mineralization targets along the Diva Structural Fault at Los Chapitos, Peru.
Figure 2. Fault structures controlling copper mineralization at Los Chapitos, Peru.
Camino is a discovery and development stage copper exploration company. Camino is focused on advancing its high-grade Los Chapitos copper project located in Peru through to resource delineation and to add new discoveries. Camino has also permitted the Maria Cecilia copper porphyry project for a planned exploration drilling program. In addition, Camino has increased its land position at its copper and silver Plata Dorada project. Camino 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 A. Bassan, FAusIMM (CP) 227922, MSc. Geologist, an independent geologist and a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, 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
|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 prospectivity of future exploration work at Los Chapitos and Maria Cecilia and the receipt of necessary authorizations and approvals. 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 may be different than those expected by management, that the Company may be unable to obtain or will experience delays in obtaining any required authorizations and 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.