TSX Venture Symbol: COR
OTCQB Symbol: CAMZF
VANCOUVER, Jan. 30, 2018 /CNW/ - Camino Minerals
Corporation ("Camino" or the "Company") (COR: TSX-V) is pleased to
report results for the final three diamond drill holes completed as
part of the 2017 drill program on the Adriana Zone ("Adriana") at
its Los Chapitos Project ("Chapitos"), located in southern
Peru.
Select drill highlights are:
- DCH-054 intersected 0.54% copper over 32.50 meters, including
1.26% copper over 7.30 meters;
- DCH-056 intersected 0.40% copper over 59.50 meters, including
1.68% copper over 7.60 meters.
Holes DCH-054, DCH-056, and DCH-057 were drilled as step out
holes targeting the shallow oxide copper mineralization on the
southeast extension of Adriana. These holes intersected
oxide mineralization further north than expected which was
likely the result of the increased brecciation related to the
Carlotta cross structure [see slide 13 of accompanying
presentation]. Hole DCH-054 was extended to depth and
intersected the Diva Structure about 100 meters southeast from
holes DCH-048, and DCH-049. This intersection was relatively deep
in a tuffaceous horizon and is interpreted to be similar to the
intersection in hole DCH-016 [see slide 16 of accompanying
presentation] which undercut over 200 meters of high grade
mineralization. The Adriana Zone now measures over 600 meters
along trend, up to 200 meters north from the Diva Structure, over
350 meters deep and is open in both directions along trend and to
depth.
At the Vicky Zone, hole DCH-051 tested a peripheral target to
the south of the main zone, and hole DCH-055 targeted a strong
geophysical anomaly but was stopped in a fault zone well short of
the anomaly. Neither hole intersected any significant
mineralization. Additional drilling is planned for this
zone.
Proposed work for 2018 will include additional step out drilling
to test the extensions of the Adriana Zone to the northwest and
southeast towards the Katty Zone. Ground crews completed two
lines of soil sampling as a test across the Adriana Zone which
yielded encouraging results, and as a result the soil survey is
being expanded to cover the entire 6 kilometer long trend centered
on the Adriana and Katty Zones. Scoping level metallurgical
studies will be completed on samples from the Adriana and Katty,
and finally, permit applications will be filed so that sufficient
drilling can be completed to support an initial resource
estimation.
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
(%)
|
Adriana
Zone
|
|
|
|
|
|
|
|
DCH-054
|
Pad - 4
|
65.25
|
74.00
|
8.75
|
0.42
|
0.36
|
|
-67.5/175
|
85.50
|
118.00
|
32.50
|
0.54
|
0.45
|
Incl.
|
|
101.70
|
109.00
|
7.30
|
1.26
|
1.17
|
|
|
360.00
|
370.50
|
10.50
|
0.84
|
0.76
|
Incl.
|
|
361.50
|
364.50
|
3.00
|
2.25
|
2.14
|
|
|
561.00
|
562.50
|
1.50
|
1.14
|
0.22
|
|
|
568.10
|
571.00
|
2.90
|
0.59
|
0.05
|
|
|
|
|
|
|
|
DCH-056
|
Pad - 4
|
79.50
|
139.00
|
59.50
|
0.40
|
0.37
|
Incl.
|
-55/175
|
130.60
|
135.20
|
4.60
|
1.68
|
1.60
|
|
|
|
|
|
|
|
DCH-057
|
Pad - 4
|
71.50
|
82.00
|
10.50
|
0.22
|
0.17
|
|
-55/152
|
231.00
|
240.00
|
9.00
|
0.30
|
0.19
|
|
|
|
|
|
|
|
(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 sequential leaching where they 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