TSX Venture Symbol: COR
VANCOUVER, April 25, 2017 /CNW/ - Camino Minerals
Corporation ("Camino" or the "Company") (COR: TSX-V) is pleased to
report results for the remaining three RC drill holes completed at
its Los Chapitos Project ("Chapitos"), located in southern
Peru. All three holes extended the oxide mineralization along
strike or at depth. Hole CHR-004, intersected the same
magnetite rich zone as in hole CHR-002; however, reached the
maximum depth limits of the drill while still in the magnetite rich
zone and did not test the projected horizon of the host rocks for
the sulphide mineralization in hole CHR-002.
Selected drill highlights from the outstanding three RC drill
holes at the Adriana Zone include:
- Hole CHR-003 intersected 0.64% copper over 32 meters, including
1.50% copper over 10 meters; and
- Hole CHR-005 intersected 0.86% copper over 44 meters, including
1.85% copper over 16 meters.
Holes CHR-003 and CHR-005 were successful in testing for
extensions of the surface oxide mineralization intersected in hole
CHR-001. A second intersection in CHR-005, between 140 and
184 meters, was dominantly sulphide mineralization, and correlates
with a low grade oxide zone in hole CHR-001.
Hole CHR-004 was an 80 meter step out to hole CHR-002 and
successfully intersected the southern extension of the oxide
mineralization starting at 90 meters down the hole. The hole
intersected the magnetite rich zone starting at 260 meters;
however, the maximum depth limit of the drill was reached at 360
meters while still in the magnetite rich zone. The current
geological interpretation indicates that hole CHR-004 ended above
the host rocks of the sulphide mineralization. The high grade
mineralization in hole CHR-002, was intersected below the magnetite
rich zone.
All of the RC drill holes experienced significant deviations
with drill cutting returns averaging 70% over the full length of
the holes. As a result, the decision was made to contract a
diamond drill to complete the Phase 1 program, which is scheduled
to begin in early May. Additional diamond drilling will be
planned to test for extensions of the Adriana mineralization and to
complete the initial test of the high grade Katty Zone, located one kilometer southeast of
Adriana.
A summary presentation, including drill plans and sections, can
be found on the company website at www.caminominerals.com.
Table 1: Selected Reverse Circulation Drill Results,
(1,2)
Hole
No.
|
Dip/
Azimuth
|
From
(meters)
|
To
(meters)
|
Interval
(meters)
|
Total
Copper
(%)
|
Acid
Soluble
Copper
(g/t)
|
Comments
|
Adriana
Zone
|
CHR-003
|
-50/45
|
58
|
90
|
32
|
0.64
|
0.50
|
|
Incl.
|
|
76
|
86
|
10
|
1.50
|
1.26
|
|
|
|
114
|
124
|
10
|
0.61
|
0.45
|
|
|
|
160
|
194
|
34
|
0.16
|
0.10
|
Ave. Silver = 10.40
gpt
|
|
|
|
|
|
|
|
|
CHR-004
|
-50/135
|
90
|
114
|
24
|
0.36
|
0.13
|
|
|
|
|
|
|
|
|
|
CHR-005
|
-68/90
|
28
|
68
|
40
|
0.45
|
0.33
|
|
Incl.
|
|
40
|
56
|
16
|
0.66
|
0.54
|
|
|
|
140
|
184
|
44
|
0.86
|
0.19
|
Sulphides
|
Incl.
|
|
140
|
156
|
16
|
1.85
|
0.37
|
Ave. Silver = 9.75
gpt
|
(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 fire assay with AA finish for
gold. Samples over 1% copper were reanalyzed using four acid
digestion with an ore grade ICP finish. Mineralized samples were
analyzed for acid soluble copper by being agitated at room
temperature in a 5% sulphuric acid solution with the copper content
measured by AA. 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.
Reverse circulation cuttings were collected for each 2 meter
interval, split in a standard 3 tier Jones splitter producing two
1/8 splits; one sent for assay, and one retained for possible
future analysis.
|
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
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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