Camino Minerals Corporation (COR: TSX-V) (“Camino” or the “Company”) is pleased to announce that it has received the required permits from the Ministry of Environment and Natural Resources (SecretarÃa de Medio Ambiente y Recursos Naturales) to begin a 6,500 metre diamond drill program at its 100% owned Rodeo Gold Project, located 160 kilometres north of the city of Durango, in Durango State, Mexico. Drilling is planned to start on or around June 15, 2011.
The Rodeo Gold Project covers 13,099 hectares (51 square miles) and is accessed by paved highway. From 2004 to 2007, Canplats Resources Corp. (“Canplats”) drilled a total of 3,449 metres in 25 holes at Rodeo. However, Canplats only tested 600 metres of the 5-kilometre long epithermal system, with only two holes exceeding a depth of 200 metres, before concentrating its activity on the Camino Rojo discovery. Despite the limited amount of drilling, a reverse circulation drill program by Canplats in 2004 confirmed the presence of near-surface gold mineralization, hosted in quartz rich structures, over significant intervals: hole BR-06 returned 5.5 g/t Au and 12.5 g/t Ag over 28 metres.
Camino’s 17-hole, 6,500 metre diamond drill campaign will test 4 kilometres of the known epithermal system. The limited drilling to date and the new Induced Polarization (“I.P.”) survey (see news release dated March 7, 2011) indicates good potential for high-grade gold mineralization in veins and breccias along strike and to depth. Updated images, showing some of the I.P. survey results and the proposed drill plan, can be viewed at Camino’s web site: www.caminominerals.com
Exploration update
In addition to the upcoming drill program at Rodeo, field crews are being mobilized to the Los Volcanes concession, which is part of Camino’s 100% owned Maijoma claim group, to commence an “I.P.” survey totaling 36 line-kilometres. The Maijoma claim group, acquired by Canplats in 2007 through staking by Perry Durning and Bud Hillemeyer, is located 65 kilometres southeast of Ojinaga, in northeast Chihuahua State, and is over 83,900 hectares (324 sq. miles) in size. The Los Volcanes concession covers nearly 19,000 hectares (73 sq. miles). The target area consists of quartz-alunite alteration that is over 5 kilometres in length and is situated along the Maijoma fault. Camino’s concessions cover 45 kilometres of the Maijoma fault, which can be observed for over 100 kilometres. Camino plans to generate drill targets at Los Volcanes that could be tested later on in the year.
About Camino Minerals Corporation
Camino is a new, well-funded mineral exploration company that was formed in connection with Goldcorp’s C$300-million acquisition of Canplats. Camino is led by Canplats’ former management and is focused on precious and base metal projects located in Mexico. For more information on Camino’s properties and associated agreement terms, please refer to the Company’s website at www.caminominerals.com
The technical information contained in this news release has been reviewed and approved by Richard Dufresne, P.Geo., Camino’s V.P., Exploration, a “Qualified Person” as defined under National Instrument 43-101.
For further information, contact:
Corporate Information:
Camino Minerals Corporation
R.E. Gordon Davis
Chairman and C.E.O.
Direct: (604) 629-8292
Investor Inquiries:
Blaine Monaghan
V.P., Corporate Development
Direct: (604) 629-8294
Toll-Free: (866) 338-0047
info@caminominerals.com
www.caminominerals.com To receive Camino’s news releases, contact Blaine Monaghan, V.P., Corporate Development, at info@caminominerals.com or (866) 338-0047.
Neither the 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
Statements contained in this news release that are not historical fact are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995 and forward-looking information under the provisions of Canadian securities laws (collectively, “forward-looking statements”). Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties include, but are not limited to, the company’s ability to raise sufficient capital to fund exploration, changes in economic conditions or financial markets, changes in prices for the company’s mineral products or increases in input costs, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments in Mexico, technological and operational difficulties or inability to obtain permits encountered in connection with exploration and development activities, labour relations matters, and changing foreign exchange rates, all of which are described more fully in Camino’s filings on SEDAR. The company undertakes no obligation to publicly update or otherwise revise any forward-looking statements, whether as a result of new information, future events or other factors, except as required by law. Readers are cautioned not to place undue reliance on forward-looking statements.
