Camino Intersects 106 Meters Averaging 1.30% Copper At Los Chapitos Project
April 18, 2017
Camino Minerals Corporation ("Camino" or the "Company") (COR: TSX-V) is pleased to report results for the first two drill holes completed at its Los Chapitos Project ("Chapitos"), located in
southern Peru. These first two holes have confirmed the down dip extension of the Adriana Zone surface oxide mineralization, with one hole intersecting a zone of high-grade sulphide mineralization
at depth. The Adriana Zone is one of five known zones located along the northeastern trend of Chapitos.
Selected drill highlights from the first two drill holes at the Adriana Zone include:
- Hole CHR-002 intersected 1.30% copper over 106 meters (with the hole ending in mineralization), including 2.12% copper over 38 meters; and
- Hole CHR-001 intersected 0.47% copper over 76 meters, including 0.67% copper over 22 meters.
The initial drilling was completed using a reverse circulation ("RC") drill and was focused on testing the down dip extension of the Adriana surface mineralization as well as testing magnetic and IP
geophysical targets at depth. Both holes were successful in intersecting the down dip extension of the surface mineralization, which was comprised predominantly of copper oxides. Hole CHR-002 passed
through a magnetite rich zone, below which it encountered a 106 meter thick interval of high grade copper sulphide mineralization composed mainly of bornite and chalcocite. The hole was stopped in
mineralization, with the last two meter sample assaying 0.86% copper. The projection of this hole cut along the margin of a moderate IP chargeability anomaly that was defined as part of the
geophysical surveys completed by Camino in 2016. Hole CHR-001 was stopped in the magnetite rich zone at 300 meters due to excessive hole deviation.
A further three RC drill holes (CHR-003, 004, and 005) have been completed as part of the Phase 1 program. Assays will be released for these holes when available. All of the RC drilling experienced
significant hole deviations, with drill cutting returns averaging 70%. As a result, the decision was made to contract a diamond drill to complete the rest of the Phase 1 program, which is scheduled
to begin work in early May. Additional diamond drilling will be planned to test for extensions of the Adriana surface oxide mineralization and deeper sulphide mineralization. Diamond drilling will
also be used to test the down dip extension of the surface oxide mineralization at the 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)
|Flow Dome Zone|
|CHR-001||-45 / 90||0||76||76||0.43||0.31|| |
| ||incl||22||44||22||0.67||0.54|| |
| || ||150||162||12||0.44||0.31|| |
| || || || || || || || |
|CHR-002||-50 / 135||4||66||62||0.36||0.27|| |
| ||incl||36||58||22||0.62||0.51|| |
| || ||188||294||106||1.30||0.32||End of Hole|
| ||incl||230||268||38||2.12||0.23||Ave. Silver 10.9 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
For further information and investor inquiries, contact:
President and Chief Executive Officer
Phone (604) 566-8778
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