Camino Corp. Positive Metallurgical Results Support Mine Development Concept, to Proceed with Discovery Drilling
Vancouver, British Columbia--(Newsfile Corp. - May 14, 2020) - Camino Corp. (TSXV: COR) (OTC PINK: CAMZF) (WKN: A116E1) (“Camino” or the “Company”) is pleased to announce the results of metallurgical results completed by SGS Minerals S.A., in Santiago, Chile, for its Los Chapitos copper discovery located in Peru. A series of metallurgical tests were performed that included sequential leaching, bottle roll, column, flotation and bond work index tests. The Company continues exploration activities to target additional mantos, on multiple malachite mineralized copper outcrops identified across the property.
“At Camino Corp, we are pursuing an initial development concept for Los Chapitos envisioned as a low-capital, high-grade, open-pit SX/EW operation.” said Jay Chmelauskas, President and CEO of Camino. “Our average copper recoveries in oxides and mixed sulphide mineralization from the metallurgical test program are consistent with results that would support a leaching operation, and we plan to pursue this potential option with further engineering, drilling and optimization studies. The flotation tests also support the ability to concentrate our high-grade sulphide copper mineralization intersected at depth, which has positive implications for any future major sulphide resource.”
“Soil and rock geochemistry completed in 2019 and our highly successful greenfield drilling campaigns in 2017 and 2018 demonstrate that there is extensive copper mineralization across our 22,000 Hectare (220 sq. km) property.” said Camino’s Lima based Exploration Manager, Dr. Owen Miller. “Los Chapitos exhibits various similarities, such as albitic alteration and breccia textures, to several major copper deposits in Chile. The shear extent of alteration and mineralization leads us to believe that new drilling has the potential to delineate a major copper deposit.”
Open-Pit SX/EW Heap-Leach Testing
Column leach tests were carried out to determine the amenability to adopt low-capital solvent extraction and electrowinning (SX/EW) in connection with any future copper mine development, similar to the dozens of open-pit copper mine operations within the Peruvian and Chilean copper belts. Oxidized and secondary sulphide mineralization composites were collected to depths of approximately 300 metres to represent an open-pit scenario. Three columns were tested to leach oxides with average recoveries of 74% from a head grade of 0.80% Cu. Bottle roll tests on oxide composites resulted with recoveries of 73% to 76% Cu. One column was tested for mixed ore (45% sulphide) and inoculated with ferro-bacillus bacteria to encourage bio-oxidation of secondary sulphides. The mixed column demonstrated copper extraction of 59.1% from a composite grade of approximately 1.57% Cu. Acid consumption was 3.7 kg acid/kg Cu for oxides and 5.5 kg acid/kg Cu for the mixed composite. The column tests were performed over 90 days and provide initial results to carry out future optimization and engineering studies.
Sulphide Flotation Testing
Flotation tests were carried out on representative sulphide composite samples grading on average 2.22% Cu to determine the amenability for producing copper concentrate processed from high-grade copper sulphides encountered at depths of 152 to 386 metres. High-grade copper intercepts over widths of 4.5 to 12.0 metres grading 3% to 5% Cu have been intersected through the Diva Fault structure, which extends up to 7 km and is open at depth. The flotation results indicate that 27% Cu concentrate was achieved with an overall 85% Cu recovery after rougher and cleaner stages, and 22% Cu concentrate was achieved with an overall Cu recovery of 88% after rougher, cleaner, and scavenger stages.
Bond Work Index results were on average 19.33, 21.26 and 17.41 kwh/t for oxide, mixed and sulphide samples, respectively. The testing indicate that samples are categorized as hard rock.
The Company has been reviewing the initial 61 greenfields exploratory drill holes totalling 17,684 metres completed along two high-grade copper geological structures on the property, the Atajo and Diva trends, that extend up to 8 km and 7 km, respectively. The Company has mapped over a dozen zones of copper manto mineralization extending outwards from these fault structures, that may support the Company’s development objective of a bulk tonnage mining operation. The exploration campaign planned for 2020 will include a magnetic telluric survey in order to look below the oxidized mantos targets, to see whether a much larger copper mineralized system exists analogous to other major bulk tonnage IOCG mantos deposits like Mantos Blancos or El Soldado in Chile.
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 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
/S/ “Jay Chmelauskas”
President and CEO
For further information, please contact:
Camino Investor Relations
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, resource delineation, open-pit or underground mining potential, satisfactory metallurgical recoveries, development and production on 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.
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