TSX Venture Symbol: COR
OTCQB Symbol:
CAMZF
Frankfurt: XC01
VANCOUVER, June 14, 2018 /CNW/ - Camino Minerals Corporation
("Camino" or the "Company") (TSX: COR) is pleased to report results
for the final three step out diamond drill holes completed on the
Katty Zone ("Katty") and Adriana
Zone ("Adriana") at its Los Chapitos copper project
("Chapitos"), located in southern Peru. This drilling has now
shown that Katty and Adriana are related and form a single system
that is over 1,500 meters long. These zones are part of the
larger Diva Structural system which has been traced on surface for
over six kilometers.
Selected drill highlights are:
- DCH-064 intersected 0.74% Cu over 12.50 meters, including 1.26%
Cu over 3.00 meters;
- DCH-065 intersected 1.34% Cu over 7.60 meters, including 2.02%
Cu over 4.50 meters.
Holes DCH-063 and DCH-064 were drilled as step out holes in
Katty testing the thickness of the high grade copper oxide
mineralization found near the collars of the 2017 drilling.
Both holes intersected mineralization starting from surface and
showed that the Katty mineralization is associated with a structure
which is parallel to the Diva Structure. As with
Adriana, the mineralization at Katty is both structurally
controlled and extends locally into the surrounding
volcanics. It is relatively shallow and currently measures
over 200 meters long, up to 40 meters wide, and over 150 meters
deep. Interpretation using the ground magnetic survey shows
that this structure forms the northern limit of Adriana and may
extend much further to the southeast and the northwest.
Hole DCH-065 tested beneath hole DCH-058, both of which are
located 100 meters northwest of last year's drilling. The
high grade copper mineralization DCH-065 is interpreted to be
related to a mineralized splay extending from the Diva Structure at
depth. This drilling confirms that Adriana remains open to
the northwest where it dives under barren cap rock. Results
from the soil geochemistry survey indicates potential for the zone
to continue another 300 to 500 meters to the northwest.
Kenneth McNaughton, President and
CEO, said, "Our work to date has shown that Chapitos was likely
formed under the same conditions as Mina
Justa which is located 100 kilometers to the
northwest. We are observing the same multiple episodes of
alteration, a complex structural history, and copper mineralization
being introduced on a regional scale. The fact that both
Adriana and Katty have very little surface exposure suggests that
any one of the numerous anomalies being defined by the ongoing soil
geochemical program has potential to host other significant
deposits of copper mineralization. Our prospecting and
geochemical studies are focused on the definition of new target
areas and will continue over the next couple of months. "
Field crews have started work on the regional soil sampling
program and have completed over 75 line kilometers of sampling to
date. Analysis is being done on site using a portable XRF,
with about 5% of the samples also being sent to the lab for
subsequent ICP confirmation analysis. The results for this
work will be reported when the program 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 a 3D video of the Adriana and Katty
geology solids 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
(%)
|
Katty
Zone
|
DCH-063
|
Kat - 3
|
2.50
|
13.30
|
10.80
|
0.80
|
0.71
|
Incl.
|
-45/218
|
2.50
|
7.00
|
4.50
|
1.35
|
1.24
|
|
|
|
|
|
|
|
DCH-064
|
Kat – 3
|
1.30
|
13.80
|
12.50
|
0.74
|
0.70
|
Incl.
|
-60/218
|
1.30
|
4.30
|
3.00
|
1.26
|
1.24
|
|
|
|
|
|
|
|
Adriana
Zone
|
DCH-065
|
Pad - 5
|
49.00
|
56.60
|
7.60
|
1.34
|
1.19
|
Incl.
|
-82.5/220
|
50.50
|
55.00
|
4.50
|
2.02
|
1.86
|
|
|
250.00
|
254.50
|
4.50
|
0.42
|
0.02
|
|
|
|
|
|
|
|
(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",
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certain actions, events or results "may", "could", "would", "might"
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Forward-looking information is subject to a variety of known and
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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