Camino Intersects 106 Meters Averaging 1.30% Copper at Los Chapitos Project

TSX Venture Symbol: COR

VANCOUVER, April 18, 2017 /CNW/ - 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) 

Hole

No.

Dip/
Azimuth

From

(meters)

To

(meters)

Interval
(meters)

Total
Copper
(%)

Acid
Soluble
Copper
(g/t)

 

Comments

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.

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.

SOURCE Camino Minerals Corporation

For further information: and investor inquiries, contact: Ken McNaughton, President and Chief Executive Officer, Phone (604) 566-8778, info@caminominerals.com, http://www.caminominerals.com

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www.caminominerals.com

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