Camino Minerals provides update for the Los Chapitos project
TSX Venture Symbol: COR
VANCOUVER, March 14, 2017 /CNW/ - Camino Minerals Corporation ("Camino" or the "Company") (COR: TSX-V) is pleased to report on permitting and exploration activities at its Los Chapitos project ("Chapitos"), located in southern Peru, including receipt of the exploration permit for the Phase 1 Reverse Circulation ("RC") drill program.
The Company has received the Authorization to Initiate the Phase 1 drill program from Ministry of Energy and Mines.The review of the permit application was completed in less than 6 months, reflecting the many positive aspects of the project, a dedicated effort by Camino staff, and government initiatives to make the review process more effective.
A track mounted RC drill has been contracted and will mobilize to site shortly.The initial program is expected to be completed in 2 to 3 weeks and will total between 2,500 and 3,000 meters of drilling, in 10 holes.The drill holes are planned to range in depth from 150 to 350 meters.Mineralization at the Adriana and Katty Zones will be the principle targets of this program.Assays will be released as they become available.
Ongoing field studies have confirmed certain of the controls on the mineralization at Adriana and have expanded the known exposure for the Katty Zone.A new area, called the Vicky Zone, is located about 2 kilometers along trend to the south east of Katty.It comprises a series of 0.2 to 0.5 meter wide structures that contain copper values ranging from 0.5% to plus 5.0%.This mineralization overlies a subsurface rectangular magnetic anomaly that measures 200 meters by 400 meters and continues to depth.The Vicky zone is still being evaluated and may be included as part of the Phase 1 program.A summary presentation can be found on the company website at www.caminominerals.com.
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.
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SOURCECamino Minerals Corporation
To view the original version on PR Newswire, visit: http://www.newswire.ca/en/releases/archive/March2017/14/c7642.html