Nov 01, 2016
Camino Minerals Provides Update of Activities and Files Drill Permit Application for Los Chapitos Project
Camino Minerals Corporation ("Camino" or the "Company") (COR: TSX-V) is pleased to report on recent exploration activities at its Los Chapitos project ("Chapitos"), located in southern Peru, including filing of the environmental assessment in support of a drill permit application.
In the four months since signing the Chapitos option agreement, geological crews have been systematically mapping and sampling the project, which now covers over 6,000 hectares. This work includes additional chip sampling lines across the known mineralization at the Adriana, Katty, and Atajo zones, which substantiated the previous analysis and located several new prospects. A geophysical program was undertaken in September, which comprised a Phase 1 program of detailed magnetic surveys completed on three grids, covering the regions around the Adriana, PDA, and Atajo areas. In the second phase, an IP-DAS survey was completed over the Adriana and Katty zones. The magnetic survey showed that the Adriana outcrop is near the apex of a well-defined, conical shaped magnetic high that extends at least 800 m below surface. The anomaly is bound by structures on the northwest and northeast margins, the latter of which extends across to the Katty zone. As expected, the IP-DAS survey showed a moderate chargeability anomaly associated with the Adriana magnetic anomaly, starting at about 250 m below surface. This is thought to be the transition from surface oxide mineralization into sulphides at depth. The magnetic signatures at the Atajo and PDA zones is consistent with the structurally hosted breccias that have been mapped on surface. A summary presentation of the results from the geophysical surveys, and updated surface sampling, can be found on the company website at www.caminominerals.com.
An environmental assessment report has been prepared and filed as part of the permit application to complete an initial drill program on the Adriana and Katty zones.
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.
For further information and investor inquiries, contact:
President and Chief Executive Officer
Phone (604) 566-8778
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.
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.