TSX Venture Symbol: COR
VANCOUVER, Oct. 24, 2017 /CNW/ - 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 receipt of the exploration permit to begin the drill program at the Atajo Zone ("Atajo"), located 6 kilometers southwest of the Adriana Zone ("Adriana").
The Company recently received the Authorization to Initiate Activities at Atajo from Ministry of Energy and Mines ("MEM"). The review of the permit application was completed in less than 6 months reflecting the many positive aspects of Chapitos, which include being in an area very well suited for mineral exploration, a positive working relationship with the local community of Atiquipa, a dedicated effort by Camino staff, and government initiatives to make the review process more effective.
Both diamond drills will be mobilized immediately to Atajo to begin delineation drilling. Work is expected to continue until early December, and will comprise up to 4,000 meters of diamond drilling. Drill holes will range in depth from 150 to 350 meters. Atajo has been exposed over a strike length of 400 meters by shallow historical mining activities which reportedly totaled up to 10,000 tonnes of copper oxide material being shipped to a processing plant near the town of Nazca in the 1940's and 1950's. Surface sampling by the Company returned values averaging 1.57% copper over 64 meters and 2.10% copper over 34 meters. Assays for the drilling will be released as they become available.
The initial phase of drilling at the Adriana and Katty Zones has been completed with 11,200 meters drilled in 40 holes. At Adriana, 27 drill holes totaling 8,700 have defined a zone measuring at least 450 meters along trend, up to 150 meters wide, and over 300 meters deep. The mineralization begins near surface, comprises both copper oxides and sulphides, is open along trend to the northwest, southeast, and at depth. The Company has drilled along trend to the maximum limits allowed under its existing exploration permit. The environmental review has been approved for a modification of that permit, and the Company is now awaiting the Authorization to Initiate Activities. This modification includes the expansion of the Adriana drill program to test along trend and the initial drilling at the Vicky Zone, located 4 kilometers southeast of Adriana.
Assays are pending for an additional 5 holes at Adriana and 2 holes at the Katty Zone, and will be released when available. A summary presentation can be found on the company website at www.caminominerals.com.
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