Camino Is Granted Drilling Permit for 200 Drill Pads with up to 908 Drill Holes or 445,000m of Drilling over 3.6 Years
Edmonton, Alberta--(Newsfile Corp. - June 7, 2019) - Camino Minerals Corp. (TSXV: COR) (OTCQB: CAMZF) (WKN: A116E1) ("Camino" or the "Company") is pleased to announce that the Peruvian Ministry of Energy and Mines (MINEM) has approved the company's EIA (Estudio de Impacto Ambiental) permit, which allows for expansion of drilling activities along the Diva Trend, at the 22,000-hectare Chapitos Copper-Gold project, near Chala, Southern Peru. Drilling is expected to commence during the latter half of 2019.
CEO John Williamson commented, "Camino is excited to have received the EIA permit to continue drilling the Diva Trend copper mineralization along strike and down dip allowing for potential expansion of the mineralized footprint. The permit will allow the company to better locate drill collars in optimum locations to both test the Diva structure and other structural and stratigraphic copper opportunities while potentially minimizing drill costs."
DIVA TREND EIA DRILL PAD PERMIT
The 200-drill pad permit allows for a maximum of 908 drill holes or 445,200 m of drilling over a 3.6-year period. The 2019 drill program has been designed after compilation of the company's previous drilling, extensive geophysical and geochemical datasets, and bedrock mapping results on the property. The drilling will further define and potentially expand on the copper mineralized zones at Adriana, Katty, and Vicky, but also include drilling designed to evaluate the potential for additional zones of copper mineralization along the Diva Trend. This will enable the Company to further its understanding of the geology and mineralization as it works towards gathering information for a future resource estimation effort.
2019 EXPLORATION PROGRAM
The 2019 exploration program is ongoing and includes detailed geological mapping and structural analysis, chip/channel and trench sampling, road building, all in preparation for geophysics and drilling. The program has been specifically designed to further define the mineralization on the Diva trend and examine the new Lourdes and Lidia zones to identify possible drill targets for the 2019 program.
At the northwest extension of the Diva Trend is the Lourdes zone, an ~800 m long copper-in-soil anomaly that is coincident with individual rock samples, that although selective in nature assayed up to 6.91 % Cu (see January 18th press release). Given the strong continuity of the mineralizing system along the Diva Trend the company anticipates additional permits or amendments to be considered.
The recently discovered 3 km by 4 km Cu-Au Lidia Zone (see March 28th press release) mineralization is hosted in quartz stockwork veins and brecciation within a monzonite stock. The zone is defined by a large copper-in-soil anomaly with grades up to 4764 ppm and 238 rock samples that collectively average 0.20 g/t gold and 0.75% copper, with individual samples, although selective in nature returning values of up to 11.1g/t Au and 23.4% Cu. Based on these very strong results, in Q3-2019 the Company will submit a drill permit application for the Lidia zone.
The exploration program will also include follow-up work on the Atajo Trend where exploratory drilling intersected 0.83 % copper over 16.3 metres, including 2.09 % copper over 5.0 metres. The style of mineralization and geological setting at Atajo is very similar to the Diva Trend, therefore as our understanding of the Diva Trend mineralizing system has evolved, we are now able to apply that knowledge to the Atajo Trend.
Figure 1: EIA 200-drill-pad permit location map on contoured soil data.
To view an enhanced version of Figure 1, please visit:
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.
ON BEHALF OF THE BOARD
/S/ "John Williamson"
President and CEO
For Further information, please contact:
Jeremy Yaseniuk, Director
Tel: (604) 773-1467
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.
This news release may contain certain "forward looking statements". Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45379