TSX Venture Symbol: COR
VANCOUVER , July 20, 2017 /CNW/ - Camino Minerals Corporation ("Camino" or the "Company") (COR:TSX-V) is pleased to report results for diamond drill holes DCH-003 and DCH-005 completed on the Katty Zone at its Los Chapitos Project ("Chapitos"), located in southern Peru. Both holes were designed to test the down dip extension of copper oxide mineralization found in outcrop. These drill results show that the Chapitos project has potential to host multiple zones of significant copper oxide and sulphide mineralization.
Selected drill highlights include:
- DCH-005 intersected 0.72% copper over 27.2 meters, including 1.16% copper over 9.00 meters.
Hole DCH-005 intersected the zone at 69.5 meters while hole DCH-003 intersected it at 248.0 meters indicating the zone is dipping moderately to the north. The current interpretation suggests the higher grade portion of the zone is raking to the southeast.
Step-out drilling will continue at the Katty Zone where four additional holes have been completed, and at the Adriana Zone where an additional five holes have been completed. Assays are pending for these outstanding drill holes and will be reported when available. Geophysical modeling of the expanded survey grids continues with an aim of finalizing drill targets to test the Pilar and Vicky areas located two kilometers to the southeast of the Katty Zone. Permit applications have been filed for a separate drill program on the Atajo Zone, located on the western side of the property.
An updated drill section and summary presentation can be found on the company website at www.caminominerals.com.
| Table 1: Selected Diamond Drill Results, (1,2) |
| Hole Number | Dip/
Azimuth (degrees) | From (meters) | To (meters) | Interval
(meters) | Total
Copper
(%) | Acid
Soluble Copper
(%) |
| Katty Zone |
| DCH-003 | -67/13 | 213.80 | 223.90 | 10.10 | 0.24 | 0.03 |
|
| 248.00 | 255.00 | 7.00 | 0.38 | 0.01 |
|
| 285.20 | 303.60 | 18.40 | 0.24 | 0.01 |
|
|
|
|
|
|
|
| DCH-005 | -52/13 | 69.50 | 96.70 | 27.20 | 0.72 | 0.62 |
|
| 72.50 | 81.50 | 9.00 | 1.16 | 1.00 |
| (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. |
The Company also wishes to announce the resignation of Mr. Joe Ovsenek from the Board of Directors. The Board wishes to thanks Mr Ovsenek for his all support and guidance over the past two years.
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.
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SOURCE Camino Minerals Corporation
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