Camino's First Drillhole Intercepts near Surface 92.1m @ 0.52% Cu (including 20.8m @ 0.97% Cu) on its Los Chapitos Property
Vancouver, British Columbia--(Newsfile Corp. - October 26, 2020) - Camino Corp. (TSXV: COR) (OTC Pink: CAMZF) (WKN: A116E1) ("Camino" or the "Company") is pleased to announce the results from the first drillhole in the 2020, 3000m campaign on its Los Chapitos copper project located in Southern Peru's Arequipa Department. Drillhole DCH-066 intercepted 92.1m @ 0.52% Copper ("Cu") including 20.8m @ 0.97% Cu). The diamond drillhole was collared at the Carlotta outcrop that was identified as another copper mantos-style oxide exposure located approximately 400 metres south of the Adriana discovery outcrop that was drilled in 2017. Diamond drillhole DCH-066 was collared on October 2nd and hit copper mineralization at 10m, which continued to a depth of 101.2m (see Table 1).
"We are finding new near surface oxidized copper mineralization at Los Chapitos," said Jay Chmelauskas, President & CEO. "Adding to the 19,161m already drilled, our exploration continues to identify previously undrilled mineralized formations at Chapitos, such as the Carlotta outcrop. The current intercept and exploration focus is targeted to expand and bring to surface copper mineralization along the Diva Trend. We also see the potential to make new discoveries and want to determine the full potential of the Chapitos system. Drilling has commenced at our Diva West (yellow Silica Breccia area, Figure 1). prospect to determine whether mineralization extends beyond and to the west of our current discovery. Diva West is an entirely new area of exploration for our team."
"We have completed significant corporate and technical milestones in 2020 to develop Camino into a copper company platform. Our current drill program results and discovery potential at Los Chapitos and Plata Dorada are the foundations to advance Camino into 2021," said Chmelauskas.
Photo 1. Select HQ Core (Diameter 63.5mm) from DCH-66 Interval 70-75m. Malachite, chrysocolla, and other copper oxides as disseminations and fracture coatings in Chocolate Formation andesite. (This core is not representative of all Los Chapitos Core)
To view an enhanced version of Photo 1, please visit:
"Our team is pleased with the results of drillhole DCH-066 to test the continuity of outcropping oxide copper mineralization in the Carlotta Zone. We are testing other near surface oxide targets, and we will also test the depth of sulphide mineralization along the Diva Structure," said Dr. Owen Miller, the Company's Exploration Manager in Peru. "We have completed extensive geological mapping along the Diva Trend and to the West and North of the previously drilled areas. We are now planning additional geophysics to guide our exploration in potential new areas of discovery such as Diva West. Drilling this year will continue to be focussed on expanding mineralization along the Diva Trend and potential new discoveries at Diva West."
|HOLE ID||EASTING||NORTHING||AZIMUTH||DIP||LENGTH (M)||FROM||TO||WIDTH||GRADE (% Cu)|
|DCH - 066||574477||8266611||225||-50||301.2||10||101.2||92.1||0.52|
|DCH - 066||68.5||89.3||20.8||0.97|
Table 1. Drillhole DCH - 066 Total Copper Intercepts
The Company has completed a series of commercial and technical milestones this year leading up to the start of exploration drilling in Peru in October. These milestones include:
- Preliminary copper leaching metallurgical results (see press release here)
- New field mapping, block model, geochemical and geological interpretation studies (see press release here)
- Completion of 100% ownership interest in Los Chapitos (see press release here)
- Commencement of exploration studies at Camino's second project - 100% owned Copper and Silver, Plata Dorada project (see press release here)
- Start of exploration drilling at Los Chapitos (see press release here)
Figure 1. DCH-066 location, planned drillholes, previous drilling and alteration.
To view an enhanced version of Figure 1, please visit:
Core is being logged and sampled at the company's facilities in the town of Chala 15 km from the project. Industry standard chain of custody and QA/QC practices are followed with samples being sent to Lima where they are analyzed by ICP-MS ALS at Chemex's facility. Further results are pending.
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 has commenced field studies at its copper and silver Plata Dorada project. 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, defining new mantos, and drilling planned 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/66894