TSX Venture Symbol: COR
VANCOUVER, March 29, 2017 /CNW/ - Camino Minerals Corporation ("Camino" or the "Company") (COR: TSX-V) is pleased to report that drilling has started at its Los Chapitos project ("Chapitos"), located in southern Peru. AK Drilling International S.A., based in Lima, Peru, has supplied a track mounted RC drill rig which was mobilized to site on March 26 and began working the following day.
The initial program is expected to be completed in about 3 weeks and will total between 2,500 and 3,000 meters of drilling, in 10 holes. The drill holes are planned to range in depth from 150 meters to 350 meters. Mineralization at the Adriana and Katty Zones will be the principle targets of this program. Assays will be released as they become available. A summary presentation can be found on the company website at www.caminominerals.com.
It should be noted that Peru has been experiencing much heavier than normal precipitation as part of this year's rainy season. This has mostly affected the northern half of the country. To date, there have been no storms in the region around Chala, located in southern Peru, which have affected access to the project or limited our field activities.
The Company also reports that as approved by the TSX Venture Exchange on March 20, 2017, the Company has completed the debt settlement transaction with Ken McNaughton, the President and CEO of the Company. A total of 1,500,000 common shares were issued to Mr. McNaughton at a deemed price of $0.34 per share, in settlement of outstanding debt of $510,500. The common shares are subject to a four month hold period expiring July 21, 2017.
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, [email protected], http://www.caminominerals.com