TSX Venture Symbol: COR
VANCOUVER, June 7, 2017 /CNW/ - Camino Minerals Corporation
("Camino" or the "Company") (COR: TSX-V) is pleased to report
results for the first diamond drill hole completed at its Los
Chapitos Project ("Chapitos"), located in southern Peru. Hole
DCH-001 was designed to twin CHR-002 on the Adriana Zone which
intersected 106 meters averaging 1.30% copper.
Selected drill highlights from hole DCH-001 include:
- 0.73% copper over 55.0 meters, including 1.21% copper over 28.3
meters;
- 0.72% copper over 168.5 meters, including 1.63% copper over
27.0 meters, and;
- 0.94% copper over 3.8 meters at the end of the hole.
Hole DCH-001 intersected numerous intervals of oxide and
sulphide mineralization which had a combined total length of 316
meters averaging 0.63% copper. Diamond drilling appears to
have recovered the oxide mineralization better than RC drilling, as
noted by the interval from 5.7 to 61 meters. Copper oxide
mineralization was found throughout the hole, including in the
magnetite rich zones. Most of the deeper intersections
averaging greater than 1% copper were generally sulphide
mineralization. The comparable diamond drill interval to the
high grade intersection of hole CHR-002 was well brecciated and
resulted in it being mostly oxide mineralization containing reduced
copper values.
DCH-001 was stopped in a fault zone at 386 meters.
Chalcopyrite was observed at the bottom of the hole with the last
3.8 meters averaging 0.94% copper. The Company plans to drill
additional holes from another location that will be approximately
perpendicular to the fault. These will better define the
location of the fault and test the IP chargeability anomaly,
located immediately to the south.
An updated drill section and summary presentation can be found
on the company website at www.caminominerals.com.
The Phase 2 drill program commenced in mid-May, and will now
total at least 3,000 meters of diamond drilling. As reported, the
first drill is set up to test the Adriana Zone and the second drill
is set up to test the Katty Zone, located one kilometer southeast
of the Adriana Zone. Drill results will be released as they become
available.
Table 1: Selected Diamond Drill Results,
(1,2)
Hole
No.
|
Dip/
Azimuth
|
From
(meters)
|
To
(meters)
|
Interval
(meters)
|
Total
Copper
(%)
|
Acid
Soluble
Copper
(g/t)
|
Comments
|
Adriana
Zone
|
DCH-001
|
-62/135
|
5.7
|
61.0
|
55.3
|
0.73
|
0.50
|
|
Incl.
|
|
32.7
|
61.0
|
28.3
|
1.21
|
0.82
|
|
|
|
85.5
|
118.5
|
33.0
|
0.40
|
0.24
|
|
|
|
128.5
|
184.0
|
55.5
|
0.37
|
0.21
|
|
|
|
190.0
|
358.5
|
168.5
|
0.72
|
0.25
|
|
Incl.
|
|
191.5
|
200.5
|
9.0
|
1.15
|
.07
|
|
Incl.
|
|
237.0
|
246.0
|
9.0
|
1.29
|
0.22
|
|
Incl.
|
|
330.0
|
357.0
|
27.0
|
1.63
|
0.13
|
|
|
|
383.0
|
286.8
|
3.8
|
0.94
|
.01
|
End of
Hole
|
(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.
|
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
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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