TSX Venture Symbol: COR
OTCQB Symbol: CAMZF
VANCOUVER, Feb. 8, 2018 /CNW/ - Camino Minerals Corporation ("Camino" or the "Company") (COR: TSX-V) is pleased to report soluble copper results for diamond drill holes DCH-001 through DCH-040 which were completed as part of the 2017 drill program on the Adriana Zone ("Adriana") and the Katty Zone ("Katty") at its Los Chapitos Project ("Chapitos"), located in southern Peru.
Select highlights are:
- DCH-012 intersected 0.93% total copper over 96.50 meters of which 0.69% reports as soluble copper, including 5.01% total copper of which 4.37% reports as soluble copper;
- DCH-024 intersected 0.85% total copper over 95.95 meters of which 0.75% copper reports as soluble copper, including 3.16% total copper over 6.15 meters of which 3.01% copper reports as soluble copper.
Drill samples for the mineralized intervals in holes DCH-001 through DCH-040 were reanalyzed using a sequential leach to determine the total soluble copper values which includes values from both oxide copper and secondary copper sulphide minerals. This reanalysis found that the average soluble copper values more than doubled over the previously reported oxide copper values. For intervals specifically within the high grade Diva Structure, the average soluble copper increased by over 500%. This is significant as the mineralization in the Diva Structure could potentially be processed either by heap leach producing cathode copper or by conventional milling producing a copper concentrate. Results comparing the acid soluble to the total soluble copper values have been tabulated and can be found under the Chapitos Project tab of the Company website. Holes DCH-041 to DCH-057 were assayed directly using the sequential leach technique and are included in the tabulation.
In other developments, drill data from the Adriana drilling has been compiled into a 3D model which can be viewed on the Company website. https://www.caminominerals.com/projects/los-chapitos-project/. The model shows the multiple intersections that delineate the Diva Structure, and several beds of volcanoclastics, one of which forms the discovery outcrop and hosts the near surface mineralization intersected by the drilling from Pad 1. This bed dips to the northwest and is open for extension in that direction, particularly where it intersects the Dive Structure. A second, deeper bed of volcanoclastics dips parallel to the upper one and is projected to daylight southeast of Adriana. Drill results from late in 2017 confirm that this bed is well mineralized with oxide copper values and is open for extension to the southeast and at depth. The current geologic interpretation suggests there are additional beds which would daylight further to the southeast and may be related to mineralization at Katty and other showings.
Ground crews recently completed a soil survey which covers the 6 kilometer long trend centered on the Adriana and Katty Zones. The results for the central portion of the grid are available and shown in the updated presentation on the Company website. Results are still pending for the remaining two thirds of the samples which cover the east and west ends of the grid. The available results show a well-defined, linear anomaly that is coincident with the projection of the Diva Structure. There are also a number of broad anomalies which will be prospected and trenched in the weeks ahead.
Proposed work for 2018 will include additional step out drilling to test the extensions of the Adriana Zone to the northwest and southeast towards the Katty Zone. Scoping level metallurgical studies will be completed on samples from the Adriana and Katty, and finally, permit applications will be filed so that sufficient drilling can be completed to support an initial resource estimate.
Kenneth C. McNaughton, M.A.Sc., P.Eng., is the Qualified Person (QP) responsible for the Chapitos project.
Updated summary presentation can be found on the company website at www.caminominerals.com.
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