TSX Venture Symbol: COR
VANCOUVER , June 7, 2017 /CNW/ - Camino Minerals Corporation ("Camino" or the "Company") (COR:TSX-V) is pleased to report results for the first diamond drill hole completed at its Los Chapitos Project ("Chapitos"), located in southern Peru. Hole DCH-001 was designed to twin CHR-002 on the Adriana Zone which intersected 106 meters averaging 1.30% copper.
Selected drill highlights from hole DCH-001 include:
- 0.73% copper over 55.0 meters, including 1.21% copper over 28.3 meters;
- 0.72% copper over 168.5 meters, including 1.63% copper over 27.0 meters, and;
- 0.94% copper over 3.8 meters at the end of the hole.
Hole DCH-001 intersected numerous intervals of oxide and sulphide mineralization which had a combined total length of 316 meters averaging 0.63% copper. Diamond drilling appears to have recovered the oxide mineralization better than RC drilling, as noted by the interval from 5.7 to 61 meters. Copper oxide mineralization was found throughout the hole, including in the magnetite rich zones. Most of the deeper intersections averaging greater than 1% copper were generally sulphide mineralization. The comparable diamond drill interval to the high grade intersection of hole CHR-002 was well brecciated and resulted in it being mostly oxide mineralization containing reduced copper values.
DCH-001 was stopped in a fault zone at 386 meters. Chalcopyrite was observed at the bottom of the hole with the last 3.8 meters averaging 0.94% copper. The Company plans to drill additional holes from another location that will be approximately perpendicular to the fault. These will better define the location of the fault and test the IP chargeability anomaly, located immediately to the south.
An updated drill section and summary presentation can be found on the company website at www.caminominerals.com.
The Phase 2 drill program commenced in mid-May, and will now total at least 3,000 meters of diamond drilling. As reported, the first drill is set up to test the Adriana Zone and the second drill is set up to test the Katty Zone, located one kilometer southeast of the Adriana Zone. Drill results will be released as they become available.
Table 1: Selected Diamond Drill Results, (1,2)
| Hole No. | Dip/
Azimuth | From (meters) | To (meters) | Interval
(meters) | Total
Copper
(%) | Acid
Soluble
Copper
(g/t) | Comments |
| Adriana Zone |
| DCH-001 | -62/135 | 5.7 | 61.0 | 55.3 | 0.73 | 0.50 |
|
| Incl. |
| 32.7 | 61.0 | 28.3 | 1.21 | 0.82 |
|
|
| 85.5 | 118.5 | 33.0 | 0.40 | 0.24 |
|
|
| 128.5 | 184.0 | 55.5 | 0.37 | 0.21 |
|
|
| 190.0 | 358.5 | 168.5 | 0.72 | 0.25 |
|
| Incl. |
| 191.5 | 200.5 | 9.0 | 1.15 | .07 |
|
| Incl. |
| 237.0 | 246.0 | 9.0 | 1.29 | 0.22 |
|
| Incl. |
| 330.0 | 357.0 | 27.0 | 1.63 | 0.13 |
|
|
| 383.0 | 286.8 | 3.8 | 0.94 | .01 | End of Hole |
| (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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