TSX Venture Symbol: COR
VANCOUVER, Nov. 22, 2016 /CNW/ - Camino Minerals Corporation ("Camino" or the "Company") (COR: TSX-V) is pleased to report that it has signed a 5 year access agreement with the Community of Atequipa ("Atequipa") whose lands cover the western half of the Los Chapitos project ("Chapitos"), located in southern Peru. This agreement covers all exploration activities of Camino, including trenching, road building, and drilling.
Negotiations with leaders from Atequipa have been ongoing for several months. At an assembly held on November 20, 2016, a large majority of attendees voted to allow Camino access to their lands in consideration of a onetime payment of $5,000 soles (US$1,500), and providing technical support for finding additional water resources for their agricultural and ranching operations. Atequipa community lands covers the western half of Chapitos, including the Atajo Zone, which has historical workings along 400 meters of strike length, that returned surface chip samples values averaging 2.10% copper over 38 meters, and a second line averaging 1.57% copper over 64 meters.
There are no community lands currently covering the eastern half of the property, host of the Adriana and Katty zones, which will be the focus of the initial drill program. An environmental assessment report has been prepared and filed as part of the drill permit application, and included prior consultation with Atequipa. Recent work on the Adriana Zone included chip sample lines across exposed mineralization that averaged 1.28% copper over 68 meters, and a second line averaging 0.60% copper over 120 meters. Modeling of the ground magnetic data indicates the surface exposure is near the apex of a conical shaped anomaly that extends at least 800 meters below surface. IP results suggest the surface oxide mineralization is likely to transition into sulphides starting around 250 meters below surface. The Katty Zone is located about 1 kilometer to the southeast, along the projection of a bounding fault of the Adriana Zone. Katty mineralization is in a shear hosted breccia with surface values up to 3.23% copper across 10 meters.
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.
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: For further information and investor inquiries, contact: Ken McNaughton, President and Chief Executive Officer, Phone (604) 566-8778, [email protected], http://www.caminominerals.com