Vancouver, September 21, 2020 – Camino Corp. (TSXV: COR) (OTCQB: CAMZF) (WKN: A116E1) (“Camino” or the “Company”) is pleased to announce that it is initiating field work on its 100% owned Plata Dorada high grade copper and silver (Cu and Ag) project located 158 kilometers east of the city of Cuzco (the “Plata Dorada Project”).
The Cu and Ag mineralization at Plata Dorada is structurally controlled and consists of polymetallic quartz sulphide veins averaging 0.5 to 1.5m wide. Mineralization is dominated by Cu and Ag with historic sampling ranging from 0.3 to 8.7% Cu, and 70 g/t to over 1500 g/t Ag. Gold (Au) is present in trace amounts. There are two zones of veins with multiple vein sets on the property with distinct orientations: North West and North-North-East. Dips are between 45o to 82o and individual strike lengths are in excess of 100 m. One of the main goals of this program is to identify potential extensions under cover.
“Drilling will begin next week at our Los Chapitos copper discovery in Arequipa. However, we continue to advance Camino as a platform for copper and precious metal discoveries in Peru. Our basis for exploring at Plata Dorada envisions the project as a potential very low capex, high grade copper and silver project similar to the Cozamin mine operated in Mexico by mid-tier copper company Capstone Mining,” said Jay Chmelauskas, President & CEO of Camino. “Cozamin was built for capital expenditures of $50 million and has produced $450 million in cash flow over its life, and still operates today. Plata Dorada is an example of opportunities with high risk exploration and high reward that we are seeking to secure and advance in Peru. The project is held by our wholly-owned precious and base metals focussed subsidiary, Minquest Peru S.A.C. When we inevitably get a strong copper market supported by the electrification of the global economy, we plan to have Camino positioned with a strong portfolio of assets including Los Chapitos and Plata Dorada.”
Plata Dorada consists of 6 contiguous concessions totalling 2100 Ha. Apart from small scale artisanal mining going back as far as Colonial times there has been no systematic exploitation or exploration of the concessions. The project can be accessed all year round on paved highway and all-weather dirt roads.
Local geology comprises predominantly continental sediments ranging from NeoProterozoic to Lower Paleozoic in age, the latter being in part weakly metamorphosed by Tertiary granitic and andesitic intrusions.
The veins have been described as mesothermal orogenic veins of the same type found at the classic mesothermal vein deposits districts: the Motherlode District, Mexico; Zacatecas District, California; Coeur d’Alene District, Idaho; Cassiar District, BC Archean lode gold deposits are found in Ontario, Quebec and Manitoba, and the Golden Mile Kalgoorile in Australia.
The potential quantity and grade of mineralization described herein is conceptual in nature as there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
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.
About Camino Corp.
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 precious metals and 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.
|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 Chapitos Project and Plata Dorada Project for future exploration, drilling planned on the Chapitos Project in September 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, delays due to the COVID-19 global pandemic, 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.