Oct 07, 2011
Camino Minerals Corporation (COR: TSX-V) ("Camino" or the "Company") is pleased to announce that it has successfully completed its diamond drilling campaign on its 100% owned Rodeo Gold Project, located in Durango State, Mexico. Early results have returned 5.99 g/t Au and 7.94 g/t Ag over 31.2 metres from hole RO-11-001. This intersection is part of a 207.3 metre long interval grading 1.06 g/t Au and 12.94 g/t Ag. Hole RO-11-001 twinned reverse circulation hole BR-06, drilled by Canplats Resources Corp. ("Canplats") in 2004, which returned 5.43 g/t Au and 13.27 g/t Ag over 30 metres. Please see the table below for significant Au and Ag assay results received to date.
Hole RO-11-001 is located within a near-surface mineralized zone previously identified by reverse circulation drilling. The core recovered from this hole allowed the Company to identify the different veining phases and breccias carrying the mineralization. Results from hole RO-11-001 also show that higher silver values can sometimes be observed in the absence of higher gold values.
The diamond drill program, totaling 6238.2 metres in 29 holes, finished earlier this week and tested a north, north-west trending 5-kilometre long epithermal system. Additional assay results from the 19 remaining holes are pending and will be reported once they have been received and interpreted. An updated drill plan will be available at Camino's web site: www.caminominerals.com
The Rodeo Gold Project, located 160 kilometres north of the city of Durango, in Durango State, Mexico, covers 13,099 hectares (51 sq. miles) and is accessed by paved highway. From 2004 to 2007, Canplats drilled a total of 3,449 metres in 25 holes at Rodeo. However, Canplats only tested 600 metres of the 5-kilometre long epithermal system, with only two holes exceeding a depth of 200 metres, before concentrating its activity on the Camino Rojo discovery.
Assaying from this program was completed by ALS Chemex through their office in Zacatecas, Mexico, which carries out the sample preparation. The pulps are sent by courier to their laboratories in North Vancouver. Gold was analyzed using a 30g fire assay with AA finish. A 51 multi-element suite using both ICP-MS and ICP-AES techniques was also used. A QA/QC program was in place from sample collection through to laboratory analysis. This included use of gold standards, blanks and duplicates. Samples chain of custody was monitored and reported at every stage.
About Camino Minerals Corporation
Camino is a new, well-funded mineral exploration company that was formed in connection with Goldcorp's C$300-million acquisition of Canplats. Camino is led by Canplats' former management and is focused on precious and base metal projects located in Mexico. For more information on Camino's properties and associated agreement terms, please refer to the Company's website at www.caminominerals.com
The technical information contained in this news release has been reviewed and approved by Richard Dufresne, P.Geo., Camino's V.P., Exploration, a "Qualified Person" as defined under National Instrument 43-101.
For further information, contact:
Camino Minerals Corporation
R.E. Gordon Davis
Chairman and C.E.O.
Direct: (604) 629-8292
V.P., Corporate Development
Direct: (604) 629-8294
Toll-Free: (866) 338-0047
To receive Camino's news releases, contact Blaine Monaghan, V.P., Corporate Development, at firstname.lastname@example.org or (866) 338-0047.
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.
Cautionary Note Regarding Forward-Looking Statements
Statements contained in this news release that are not historical fact are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995 and forward-looking information under the provisions of Canadian securities laws (collectively, "forward-looking statements"). Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties include, but are not limited to, the company's ability to raise sufficient capital to fund exploration, changes in economic conditions or financial markets, changes in prices for the company's mineral products or increases in input costs, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments in Mexico, technological and operational difficulties or inability to obtain permits encountered in connection with exploration and development activities, labour relations matters, and changing foreign exchange rates, all of which are described more fully in Camino's filings on SEDAR. The company undertakes no obligation to publicly update or otherwise revise any forward-looking statements, whether as a result of new information, future events or other factors, except as required by law. Readers are cautioned not to place undue reliance on forward-looking statements.