TSX Venture Symbol: COR
VANCOUVER , Dec. 6, 2017 /CNW/ - Camino Minerals Corporation ("Camino" or the "Company") (COR:TSX-V) is pleased to report results for the first eight diamond drill holes completed on the Atajo Zone ("Atajo") at its Los Chapitos Project ("Chapitos"), located in southern Peru.
Select drill highlights are:
- DCH-041 intersected 0.75% copper over 17.80 meters, including 2.15% copper over 3.00 meters;
- DCH-046 intersected 0.83% copper over 16.30 meters, including 2.09% copper over 5.00 meters.
Drill holes DCH-041 through DCH-046 were drilled to test for mineralization below the central and northern portions of the Atajo Zone. All six of these holes intersected a broad zone of a coarse tectonic breccia that was locally cemented with copper oxide mineralization grading up to 6.31% copper over 1.0 meters. The zone has been intruded by late stage dikes which are barren of any mineralization. This style of mineralization is very similar to the Katty Zone, located 2 kilometers southeast of Adriana. Holes DCH-047 and DCH-050 tested the southern extension of Atajo and intersected the tectonic breccia but did not contain any significant copper values. Hole DCH-047 intersected a parallel zone with low grade values which had been located as part of the mapping program.
The drilling at Atajo has successfully outlined two mineral trends within the tectonic breccia that measures approximately 250 meters long, varies from 12 to 50 meters wide, and is open to the north and at depth. Future work contemplates the completion of an IP geophysical survey and additional drilling to further delineate the existing mineralization and potentially locate its source.
Elsewhere on the project, one drill has continued working at Adriana where it has completed one fan of step out drill holes to the southeast, and is in the process of completing a second fan of holes. The second drill was moved to the Vicky Zone, located 4 kilometers southeast of Adriana, where it has been drilling two regional holes testing several surface showings and their associated geophysical targets. Assays for this drilling will be released when available. To date, the Company has completed over 15,000 meters of diamond drilling at Chapitos since work began in May of this year.
Analytical procedures for soluble copper have been revised to now include a sequential leach first for oxide copper and then for secondary sulphide minerals such as chalcocite and bornite. Both oxide and secondary sulphide mineralization are potentially recoverable in a copper heap leach operation. The Company has completed reanalysis of a select amount of samples from earlier drilling. Where secondary sulphides were present, the amount of soluble copper increased substantially. Camino will re-analyze all of the mineralized intervals from holes DCH-001 through DCH-040 over the coming months and report the revised soluble copper values when the analysis has been completed.
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 | Pad # Dip/Azimuth (degrees) | From (meters) | To (meters) | Interval
(meters) | Total
Copper
(%) | Soluble
Copper
(%) |
| Atajo Zone |
| DCH-041 | AT-01 | 28.50 | 46.30 | 17.80 | 0.75 | 0.58 |
| Incl. | -45/270 | 40.30 | 43.30 | 3.00 | 2.15 | 1.87 |
|
| 137.60 | 145.50 | 7.90 | 0.32 | 0.27 |
|
|
|
|
|
|
|
| DCH-042 | AT-02 | 66.60 | 76.20 | 9.60 | 0.45 | 0.33 |
| -45/90 | 107.70 | 117.50 | 9.80 | 0.21 | 0.10 |
|
|
|
|
|
|
|
| DCH-043 | AT-01 | 45.15 | 55.40 | 10.25 | 0.53 | 0.35 |
| -45/300 | 106.50 | 119.70 | 13.20 | 0.55 | 0.39 |
| Incl. |
| 106.50 | 110.70 | 4.20 | 1.08 | 0.87 |
|
|
|
|
|
|
|
| DCH-044 | AT-02 | 61.10 | 64.10 | 3.00 | 1.02 | 0.82 |
| -60/90 |
|
|
|
|
|
|
|
|
|
|
|
|
| DCH-045 | AT-02 | 85.30 | 98.15 | 12.85 | 0.89 | 0.67 |
| Incl. | -45/45 | 85.30 | 89.70 | 4.40 | 2.24 | 1.71 |
|
|
|
|
|
|
|
| DCH-046 | AT-01 | 48.40 | 64.70 | 16.30 | 0.83 | 0.64 |
| Incl. | -45/225 | 51.20 | 56.20 | 5.00 | 2.09 | 1.68 |
|
| 78.90 | 80.25 | 1.35 | 2.02 | 1.89 |
|
|
|
|
|
|
|
| DCH-047 | AT-03 | 88.50 | 89.10 | 0.60 | 2.98 | 2.66 |
| -45/260 | 157.00 | 167.10 | 10.10 | 0.19 | 0.07 |
|
|
|
|
|
|
|
| DCH-050 | AT-04 |
| NSV |
|
|
|
| -45/80 |
|
|
|
|
|
|
|
| (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 select samples were analyzed for gold using fire assay with AA finish. Samples over 1% copper were reanalyzed using four acid digestion with an ore grade ICP finish. Mineralized samples were analyzed for soluble copper by a sequential leaching. The samples are first agitated at room temperature in a 5% sulphuric acid solution with the copper content measured by AA. The tails from the acid leach are then agitated in a 10% sodium cyanide solution with an AA finish to determine the amount of copper contained in secondary sulphides such as chalcocite and bornite. 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
View original content: http://www.newswire.ca/en/releases/archive/December2017/06/c4440.html