TSX Venture Symbol: COR
VANCOUVER , July 11, 2017 /CNW/ - Camino Minerals Corporation ("Camino" or the "Company") (COR:TSX-V) is pleased to report results for diamond drill holes DCH-002 and DCH-004 completed at its Los Chapitos Project ("Chapitos"), located in southern Peru. Both drill holes were designed to test for extensions of the mineralization on the same drill section as hole DCH-001.
Selected drill highlights include:
- DCH-002 intersected 0.62% copper over 55.5 meters, including 2.00% copper over 9.00 meters;
- DCH-004 intersected 0.70% copper over 86.5 meters, including 1.11% copper over 15.0 meters and 1.42% copper over 15 meters; and
- DCH-004 also intersected 0.84% copper over 88.5 meters, including 2.12% copper over 16.5 meters.
Drill holes DCH-002 and DCH-004 intersected numerous intervals of oxide and sulphide mineralization, which had combined total lengths of 123 meters averaging 0.57% copper and 289.5 meters averaging 0.62% copper, respectively. Hole DCH-002 intersected the surface oxide mineralization and several narrow bands of magnetite rich volcanics before passing through the Diva Fault at 411 meters. Below the fault, the lithology changed to barren magnetite and hematite rich andesitic intrusive. Hole DCH-004 intersected four broad bands of mineralization as deep as 589 meters before being stopped in the Diva Fault; the same fault within which hole DCH-001 was stopped. This first drill section defined by holes DCH-001, DCH-002 and DCH-004 shows that the Adriana Zone is made up of multiple bands of copper mineralization extending from surface to depths in excess of 450 meters. The Adriana Zone mineralization is open in all directions with additional drilling being planned to establish the orientation and thickness of the bands of mineralization.
There have been 7 diamond drill holes completed to date at the Adriana Zone. Assays are pending for the remaining four completed drill holes, which targeted the surface oxide mineralization below the discovery outcrop. The drill has been moved to the next pad as part of the plan to drill a series of fans of holes along the strike of the Diva Fault. These drill fans will better define the location of the Diva Fault and test the IP chargeability anomaly, located immediately to the south.
The second diamond drill continues to work at the Katty Zone where four holes have been completed to date. Assays are pending for this drilling and will be reported when available. Elsewhere on the project, additional geophysical work has been completed, which significantly expanded the magnetic survey as well as extended the IP coverage two kilometers to the southeast from the Adriana/Katty grid across to the Pilar and Vicky zones. This information is being modeled and will be used for planning additional drilling.
An updated drill section and summary presentation can be found on the company website at www.caminominerals.com.
Diamond Drill Results, (1,2) " data-reactid="23">Table 1: Selected Diamond Drill Results, (1,2)
| Hole No. | Dip/
Azimuth | From (meters) | To (meters) | Interval
(meters) | Total
Copper
(%) | Acid
Soluble
Copper
(%) |
Comments |
| Adriana Zone |
| DCH-002 |
| 32.00 | 68.00 | 36.00 | 0.54 | 0.35 |
|
| Incl. |
| 41.00 | 57.50 | 16.50 | 0.91 | 0.64 |
|
|
| 89.00 | 113.00 | 24.00 | 0.56 | 0.23 |
|
| Incl. |
| 92.00 | 98.00 | 6.00 | 0.99 | 0.39 |
|
|
| 168.50 | 224.00 | 55.50 | 0.62 | 0.24 |
|
| Incl. |
| 185.00 | 194.00 | 9.00 | 2.00 | 0.60 |
|
|
| 314.00 | 321.50 | 7.50 | 0.42 | 0.17 |
|
|
|
|
|
|
|
|
|
| DCH-004 |
| 3.00 | 57.00 | 54.00 | 0.40 | 0.32 |
|
|
| 239.50 | 326.00 | 86.50 | 0.70 | 0.48 |
|
| Incl. |
| 266.00 | 281.00 | 15.00 | 1.11 | 0.60 |
|
| and |
| 291.50 | 306.50 | 15.00 | 1.42 | 1.25 |
|
|
| 418.50 | 507.00 | 88.50 | 0.84 | 0.19 |
|
| Incl. |
| 445.50 | 484.50 | 39.00 | 1.46 | 0.28 |
|
| or |
| 454.50 | 471.00 | 16.50 | 2.12 | 0.21 |
|
|
| 528.00 | 588.50 | 60.50 | 0.38 | 0.02 |
|
| (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. |
Kenneth C. McNaughton , M.A.Sc., P.Eng., is the Qualified Person (QP) responsible for the Chapitos project.
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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