TSX Venture Symbol: COR
VANCOUVER , Aug. 22, 2017 /CNW/ - Camino Minerals Corporation ("Camino" or the "Company") (COR:TSX-V) is pleased to report results for three diamond drill holes completed on the Ariana Zone and four holes on the Katty Zone at its Los Chapitos Project ("Chapitos"), located in southern Peru.
Select drill highlights for the Adriana Zone include:
- DCH-012 intersected 0.93% copper over 96.5 meters, including 2.03% copper over 19.5 meters and 5.01% copper over 4.5 meters;
- DCH-019 intersected 0.97% copper over 42.0 meters, including 3.31% copper over 7.5 meters.
Select drill highlights for the Katty Zone include:
- DCH-010 intersected 0.70% copper over 43.5 meters, including 1.85% copper over 5.6 meters;
- DCH-014 intersected 1.20% copper over 21.4 meters, including 2.70% copper over 7.9 meters.
Holes DCH-012, DCH-016, and DCH-019 are the first holes completed from Pad 2A to drill perpendicular to the initial holes which were drilled from Pad 1. These holes confirm the presence of the previously reported high grade copper mineralization, including hole CHR-002 which intersected 1.30% copper over 106 meters, including 2.12% copper over 38 meters. The results of the diamond drilling suggest two ore controls are present in the deeper mineralization. First, the Diva Fault appears to be the re-activation of an earlier, structurally controlled breccia which was cemented with copper sulphides. Grades in this mineralized breccia range up to 8.30% copper over 1.5 meters. This mineralization is interpreted to be the steeply dipping feeder zone for the Adriana copper system. It has so far been traced for over 400 meters along strike, over 350 meters down dip, and is open along strike and at depth.
Second, copper also forms magnetite replacement zones spreading out into specific beds within the andesitic volcanics. This style of mineralization has so far been intersected up to 150 meters away from the feeder system. All three holes from Pad 2A ended in a hypabyssal volcanic which contained finely disseminated magnetite, minor pyrite, and locally anomalous copper values.
At the Katty Zone, holes DCH-010, and DCH-014 confirm the presence of a shallow zone of high grade copper oxide mineralization that is plunging to the south east. The mineralization has so far been intersected in an area measuring 75 meters long, up to 75 meters wide, and to depths of 100 meters below surface. The copper oxide mineralization is found in structurally controlled breccias and transitions into sulphide mineralization at depth. The zone is open along trend to the south east and at depth.
Work continues on the project with two drills active, both currently working at the Adriana Zone, with additional drilling planned for the Katty Zone. Through the end of the year, the Company expects to complete an additional 8,000 to 10,000 meters of definition and step-out drilling at the Adriana Zone; 2,000 to 3,000 meters at the Katty Zone; and preliminary drill programs at both the Vicky Zone, 2 kilometers south east of Katty, and the Atajo Zone, located on a separate trend 6 kilometers to the south west. An amendment to the existing exploration permit has been filed for the proposed drilling at the Vicky Zone. A separate permit application has been filed for the initial drill program at the Atajo Zone. The Company expects both will be approved in time to allow drilling in the fourth quarter of this year.
Kenneth C. McNaughton , M.A.Sc., P.Eng., is the Qualified Person (QP) responsible for the Chapitos project.
Updated drill sections and summary presentation can be found on the company website at www.caminominerals.com.
Diamond Drill Results, (1,2) " data-reactid="29">Table 1: Selected Diamond Drill Results, (1,2)
| Hole Number | Dip/
Azimuth (degrees) | From (meters) | To (meters) | Interval
(meters) | Total
Copper
(%) | Acid
Soluble
Copper
(%) |
| Adriana Zone |
| DCH-012 | -56/229 | 158.50 | 163.00 | 4.50 | 0.44 | 0.09 |
|
| 175.00 | 271.50 | 96.50 | 0.93 | 0.19 |
| Incl. |
| 197.50 | 217.00 | 19.50 | 2.03 | 0.32 |
| and |
| 245.50 | 250.00 | 4.50 | 5.01 | 0.31 |
|
|
|
|
|
|
|
| DCH-016 | -65/229 | 98.50 | 101.50 | 3.00 | 0.29 | 0.22 |
|
| 141.00 | 153.00 | 12.00 | 0.55 | 0.43 |
| Incl. |
| 145.50 | 148.50 | 3.00 | 1.23 | 1.12 |
|
| 187.00 | 199.50 | 12.50 | 0.17 | 0.15 |
|
| 297.50 | 306.00 | 8.50 | 0.75 | 0.21 |
|
|
|
|
|
|
|
| DCH-019 | -45/229 | 186.50 | 201.50 | 15.00 | 0.24 | 0.08 |
|
| 201.50 | 243.50 | 42.00 | 0.97 | 0.17 |
| Incl. |
| 222.50 | 230.00 | 7.50 | 3.31 | 0.10 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Katty Zone |
| DCH-010 | -50/68 | 16.10 | 21.45 | 5.35 | 0.81 | 0.61 |
|
| 31.00 | 36.70 | 5.70 | 0.51 | 0.34 |
|
| 82.30 | 125.80 | 43.50 | 0.70 | 0.54 |
| Incl. |
| 120.25 | 125.80 | 5.55 | 1.85 | 1.45 |
|
| 130.00 | 142.80 | 12.80 | 0.25 | 0.19 |
|
|
|
|
|
|
|
| DCH-013 | -55/221 | 36.50 | 45.75 | 9.25 | 0.67 | 0.23 |
|
|
|
|
|
|
|
| DCH-014 | -60/68 | 17.65 | 39.00 | 21.35 | 1.20 | 1.04 |
| Incl. |
| 17.65 | 25.50 | 7.85 | 2.70 | 2.46 |
|
| 123.50 | 141.70 | 18.20 | 0.50 | 0.15 |
|
|
|
|
|
|
|
| DCH-015 | -50/250 |
| NSV |
|
|
|
| (1) | True thickness to be determined. |
| (2) | All samples were submitted for preparation and analysis by ALS Chemex at its facilities in Lima, Peru. All samples were analyzed using multi-digestion with ICP finish and fire assay with AA finish for gold. Samples over 1% copper were reanalyzed using four acid digestion with an ore grade ICP finish. Mineralized samples were analyzed for acid soluble copper by being agitated at room temperature in a 5% sulphuric acid solution with the copper content measured by AA. One in 20 samples was blank, one in 20 was a standard sample, and one in 20 samples had a sample cut from assay rejects assayed as a field duplicate at ALS Chemex in Lima, Peru. |
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.
Cautionary Note Regarding Forward-Looking Statements and Information
This News Release contains "forward-looking information" and "forward looking statements" within the meaning of applicable Canadian and United States securities legislation. Statements contained herein that are not based on historical or current fact, including without limitation statements containing the words "anticipates," "believes," "may," "continues," "estimates," "expects," and "will" and words of similar import, constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking information may include, but is not limited to, information with respect to our planned exploration activities, the adequacy of our financial resources, the estimation of mineral reserves and resources, the results of future exploration and drilling. Wherever possible, words such as "plans", "expects", "projects", "assumes", "budget", "strategy", "scheduled", "estimates", "forecasts", "anticipates", "believes", "intends", "targets" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative forms of any of these terms and similar expressions, have been used to identify forward-looking statements and information.
Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by the forward-looking information, including, without limitation, those risks identified in the Company's annual disclosure materials, filed with the securities regulatory authorities in Canada and available at www.sedar.com. Readers are encouraged to read these materials. Prospective investors should not place undue reliance on forward-looking information.
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.
SOURCE Camino Minerals Corporation
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