TSX Venture Symbol: COR
VANCOUVER , Aug. 15, 2017 /CNW/ - Camino Minerals Corporation ("Camino" or the "Company") (COR:TSX-V) is pleased to report results for the next four diamond drill holes completed on the Adriana Zone at its Los Chapitos Project ("Chapitos"), located in southern Peru. This drilling was designed to test below the copper oxide mineralization found in outcrop. All of the drill holes intersected multiple zones of copper oxide and sulphide mineralization starting at or near surface.
Selected drill highlights include:
- DCH-006 intersected 0.65% copper over 52.5 meters, including 1.15% copper over 16.5 meters;
- DCH-008 intersected 0.84% copper over 20.9 meters, including 2.14% copper over 4.4 meters, and 1.01% copper over 15.0 meters, including 1.99% copper over 3.0 meters;
- DCH-009 intersected 0.51% copper over 39.0 meters, including 1.17%copper over 7.5 meters.
Holes DCH-006, DCH-008, DCH-009, and DCH-011 were completed from Pad 1 along with previously released results for holes DCH-001, DCH-002, and DCH-004. All reported intervals are based on a nominal 0.30% copper cutoff.
This drilling confirms that the mineralization found on surface at Adriana measures at least 250 meters long, is up to 150 meters wide, and extends to a depth of at least 200 meters. It ranges in grade from 0.10% copper up to 4.75% copper, and is open at depth, to the west, and to the south. This portion of the Adriana Zone appears to be controlled by north-south trending structures that are dipping steeply to the west. Additional drilling is underway to test for extensions to this mineralization.
Drilling continues testing the deeper oxide/sulphide mineralization intersected earlier in the program. A fan of four holes (DCH-012, DCH-016, DCH-019, and DCH-022) oriented at azimuth 230 degrees has been completed from Pad 2A, with two more holes being completed up-dip from these. Drilling has started on a second fan of holes from Pad 2A oriented at azimuth 205 degrees (DCH-024). Additional fans of drill holes are planned to test the over 400 meters of currently defined strike length of this mineralization, which remains open along strike and at depth.
To date, 25 diamond drill holes have been completed totaling 6,975 meters, which includes 14 holes at Adriana totaling 4,725 meters, and 11 holes at Katty totaling 2,250 meters. Assays are pending for seven holes at Adriana and eight holes at Katty and will be released when available.
Work continues on the project with two drills active, both currently working at the Adriana 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.
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-006 | -55/90 | 10.00 | 14.50 | 4.50 | 0.59 | 0.52 |
|
| 23.50 | 76.00 | 52.50 | 0.65 | 0.52 |
| Incl. |
| 43.00 | 59.50 | 16.50 | 1.15 | 1.00 |
|
| 80.50 | 118.00 | 37.50 | 0.38 | 0.23 |
| Incl. |
| 92.50 | 95.50 | 3.00 | 2.05 | 1.15 |
|
| 137.50 | 158.50 | 21.00 | 0.44 | 0.26 |
|
| 158.50 | 173.92 | 15.42 | 0.26 | 0.13 |
|
| 374.70 | 379.80 | 5.10 | 0.29 | 0.25 |
|
|
|
|
|
|
|
| DCH-008 | -75/90 | 8.50 | 14.50 | 6.00 | 0.45 | 0.35 |
|
| 28.00 | 55.00 | 27.00 | 0.64 | 0.42 |
| Incl. |
| 38.50 | 49.00 | 10.50 | 0.98 | 0.65 |
|
| 64.00 | 86.50 | 22.50 | 0.25 | 0.16 |
|
| 139.00 | 159.90 | 20.90 | 0.84 | 0.37 |
| Incl. |
| 155.50 | 159.90 | 4.40 | 2.14 | 0.32 |
|
| 173.50 | 188.50 | 15.00 | 1.01 | 0.19 |
| Incl. |
| 182.50 | 185.50 | 3.00 | 1.99 | 0.14 |
|
|
|
|
|
|
|
| DCH-009 | -59/43 | 44.00 | 83.00 | 39.00 | 0.51 | 0.29 |
| Incl. |
| 69.50 | 77.00 | 7.50 | 1.17 | 0.54 |
|
| 95.00 | 99.50 | 4.50 | 0.72 | 0.56 |
|
| 110.00 | 132.50 | 22.50 | 0.61 | 0.43 |
| Incl. |
| 111.50 | 119.00 | 7.50 | 1.28 | 0.93 |
|
| 167.00 | 176.00 | 9.00 | 0.51 | 0.30 |
|
|
|
|
|
|
|
| DCH-011 | -45/43 | 16.00 | 50.50 | 34.50 | 0.41 | 0.29 |
|
| 61.00 | 74.50 | 13.50 | 0.62 | 0.43 |
|
| 91.00 | 101.50 | 10.50 | 0.72 | 0.52 |
| (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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