Camino Corp. to Proceed with Resource Delineation Studies at its Los Chapitos Copper Discovery in Peru
Vancouver, British Columbia--(Newsfile Corp. - May 26, 2020) - Camino Corp. (TSXV: COR) (OTCQB: CAMZF) (WKN: A116E1) ("Camino" or the "Company") is pleased to announce the commencement of resource delineation studies for its Los Chapitos copper discovery located in Peru. Initial internal studies will be focussed on several copper mantos that have been identified through drilling and mapping along the 7 km Diva trend. It is anticipated that geostatistical derived grade shells and potential tonnages will be developed to help guide future drilling targets at the project. Solubility ratios will be analysed to define oxides, mixed (transition), and sulphide mineralization. The intent of the exercise is to provide a first phase resource quantification, that if successful, will provide the basis to develop a NI 43-101 compliant resource that would incorporate additional drilling planned at the project.
"We have 58 drillholes with copper mineralization out of our maiden 61 hole drill program. Many of these drillholes are showing the geometry for a potential bulk tonnage manto style deposit," said Jay Chmelauskas, President & CEO. "We will start to delineate potential tonnage and grade models around these copper intersections to guide our efforts to expand the identified mineralization, and to potentially make new discoveries on other manto targets across the property and at depth."
Resource delineation will initially be focussed in the Area of Pad 1, Pad 2A and Pad 4 (see Plan Map). The selected drill pads are located approximately 150 metres east of the interpreted Diva fault structure (see Section Pad 1, Section Pad 2A and Section Pad 4). Select drillholes collared in this location, DCH-034, DCH-012 and DCH-036, encountered significant copper mineralization across structure drilled toward the Diva Fault. These four holes provide the simple geometry of a potential bulk-tonnage manto. However, over two dozen drillholes have been drilled in this area that will form the basis of the study. Drillhole DCH-001 collared on Pad 1, had significant copper mineralization extend along structure parallel to the Diva fault indicating mineralization continuity between drill Pad 1 and Pad 2A located approximately 180 metres apart. A total of 58 out of 61 exploratory drillholes encountered copper mineralization from the initial 17,684 metre campaigns completed in 2017 and 2018. All significant drillhole intersections, are summarized in the Company's Los Chapitos NI 43-101 Technical Report (April 2018).
Significant copper intercept highlights (not true thickness) for Pad 1, Pad 2A and Pad 4 include:
DCH-001 55.3m @ 0.73% Cu AND 33.0 @ 0.40% AND 55.5m @ 0.37% Cu AND
(along structure) 168.5m @ 0.72% Cu
with Total Soluble Copper 89%, 70%, 73% and 64%, respectively
DCH-034 95.0m @ 0.85% Cu including 6.2m @ 3.16% Cu
with Total Soluble Copper 88% and 95%, respectively
DCH-012 96.5m @ 0.93% Cu including 4.5m @ 5.01% Cu
with Total Soluble Copper 74% and 87%, respectively
DCH-036 91.0m @ 0.76% Cu including 28.5m @ 1.42% Cu
with Total Soluble Copper 92% and 96%, respectively
Detailed drill holes summaries are included below.
Camino is currently compiling channel samples and chip samples completed in 2019 to also form the basis of the resource delineation study. The Company has contracted a consultant to complete QAQC procedures of the Camino database with approximately 13,500 samples so that data can be systematically analysed for further studies.
"There are copper showings all over the property with very high values ranging up to 23% Cu. Although many of these are isolated grab samples around 40% of our surface sampling is either trenches or channel chip samples and they are also well mineralized. We believe these coherent zones of surface mineralization may be the expression of bulk sub-surface mineralization - "mantos" in other words," said Camino's Lima based Exploration Manager, Dr. Owen Miller.
Mario Rossi, MSc, Min.Eng., will perform the resource delineation studies. Mario is a resource and reserve specialist that has worked in over 100 different mining projects around the world and has particular experience with copper projects in Northern Chile and Peru. Mario is a Stanford graduate and is the co-author of the book "Mineral Resource Estimation" (2014).
Drillhole Summary to Represent Manto Mineralization
All 61 drillholes from the Los Chapitos project are summarized in Los Chapitos NI 43-101 Technical Report (April 2018)
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Plan Map
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Section Pad 1
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Section Pad 2A
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Section Pad 4
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About Camino Minerals Corporation
Camino is a discovery and development stage copper exploration company. The Company is focused on advancing its high-grade Los Chapitos copper project, located in Peru, towards potential resource delineation and new discoveries. The Company seeks to acquire a portfolio of advanced copper assets that have the potential to deliver copper into an electrifying copper intensive global economy. For more information, please refer to Camino's website at www.caminominerals.com.
Owen D. W Miller, Ph.D FAusIMM(CP) a Qualified Person as defined by NI 43-101, has reviewed and approved the technical contents of this document.
ON BEHALF OF THE BOARD
/S/ "Jay Chmelauskas"
President and CEO
For further information, please contact:
Camino Investor Relations
info@caminominerals.com
Tel: (604) 608-4513
Cautionary Note Regarding Forward Looking Statements: Certain disclosures in this release constitute forward-looking information. In making the forward-looking disclosures in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company. Forward-looking information in the release includes the prospectivity of the project for future exploration, resource delineation, open-pit or underground mining potential, development and production on the Los Chapitos copper project and that actual results of exploration and engineering activities are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release is subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information. Such risk factors include, among others, that actual results of the Company's exploration activities will be different than those expected by management, that the Company will be unable to obtain or will experience delays in obtaining any required approvals and the state of equity and commodity markets. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Neither 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.
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