Camino Commences Drill Pad Construction Ahead of Discovery Drilling at the Maria Cecilia Porphyry in Peru
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Camino Commences Drill Pad Construction Ahead of Discovery
Drilling at the Maria Cecilia Porphyry in Peru
VANCOUVER, April 3 , 202 4 – Camino Minerals Corporation (TSXV: COR) (OTC: CAMZF) (WKN:
A116E1) (“Camino” or the “Company”) is pleased to announce that it has commenced road building
and drilling pad construction at its wholly -owned Maria Cecilia copper porphyry project (“Maria
Cecilia” or the “Project”) in Peru. Activities started at the end of March, with drilling to commence
by the end of April 2024. Approximately 6 kilometers of roads will be constructed to connect to the
existing road network in the area . The Maria Cecilia project is located in the Cordillera Negra
mountain range in the Andes at an elevation of 4,300 metres; approximately a 3 hour drive from
the nearest mining-supported town of Caraz.
Please see our Maria Cecilia site visit video “Maria Cecilia Project – Where Does Copper Come
From?” by Camino CEO, Jay Chmelauskas.
“The drilling program that starts in April at Maria Cecilia provides a chance to make a new copper
discovery on a project that has seen over 30,000 metres of historical drilling. Over USD $28 million
has been invested in the adjacent projects, defining resources of copper and gold mineralization,
but the central porphyry target on our project has never been drilled,” said Camino CEO, Jay
Chmelauskas. “It is a bold drilling strategy, but one where multiple pulses of mineralization provide
a sizable, rare, and quality opportunity to make a copper discovery.”
The Maria Cecilia complex is a mineralized system of intrusives that extends for over 5 km and hosts
the mineral resources of Toropunto, Emmanuel, and the undrilled central porphyry target, Maria
Cecilia. The Maria Cecilia target, exhibits the largest magnetic anomaly in the porphyry complex.
Camino intends to drill up to two 750 meter holes to intercept a significant magnetic anomaly with
the potential to host a robust mineralized porphyry system (Figure 1) . Molybdenum has been
encountered during previous exploration immediately adjacent to Maria Cecilia, that zonation
models indicate potential proximity to a copper source. The proposed d rilling program aims to
discover ore-grade copper mineralization and associated minerals withi n the host rock s. This
package of rocks is believed to have the potential to host significant mineral deposits characteristic
of large-scale porphyry-style mineralization.
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Figure 1. Long Section of Maria Cecilia Multi-Intrusive Copper Porphyry System
Figure 2. March 2024, Camino Meets with Local Community to Start Drilling Activities at Maria Cecilia.
Maria Cecilia is in the center of the Northwest -Southeast belt between Toropunto , a copper-
molybdenum-gold high -sulphidation epithermal system and the Emmanuel porphyry copper -
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molybdenum mineralization , hosted in a package of sandstones and limestones of the
Goyllarisquizga group. This approximately 20-million-year-old Formation, hosts andesitic porphyry
and granodiorite intrusions that could host large -scale concentrations of copper mineralization in
the Cordillera Negra belt. At Maria Cecilia there is a 2.0 km Northeast -Southwest zonation, from
unaltered calcareous rocks, grading to skarns of brown garnets, green garnets, and pyroxenes with
the presence of sulfides, sandstones and hornfels with a stockwork of quartz veinlets, intruded by a
porphyritic stock with copper oxides sampled at surface.
The drill holes at Maria Cecilia will seek to define copper mineralization and to estimate the
corresponding zonation in the porphyry stock for further follow up drilling.
Figure 3. Profile of the Undrilled Maria Cecilia Porphyry Intrusion Spanning 2 km in Photo Limits
The Company is also pleased to announce the TSX Venture Exchange (the “TSXV”) has accepted for
filing documentation related to the Company’s earn-in agreement (the “Earn-in Agreement”) with
Nittetsu Mining Co., Ltd (“Nittetsu”). Following their acceptance, the TSXV has provided conditional
acceptance for the issuance of 2,235,295 common shares to a non -related third-party, Resource
Play (the “Finder”) as finder’s fees in connection with the Earn -in Agreement. The TSXV has also
provided conditional approval for the issuance of a further 882,352 common shares to the Finder if
Nittetsu exercises their right under the agreement to contribute their 3rd option instalment
payment of CDN$1,500,000 to Camino in May 2024. The finder ’s fee agreement was previously
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announced on February 1, 2023, and June 14, 2023, and the issue of stock to satisfy the finder’s fee
was announced on January 10, 2023.
Further to the January 10, 2024, news release, the Company wishes to advise that the TSXV has also
provided conditional acceptance for the issuance of 352,942 common shares issued to former Chief
Financial Officer, Justin Bourassa. This issuance constitutes a “related party transaction” as defined
in Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions
("MI 61-101"). The Company relied upon the exemptions from the formal valuation and minority
shareholder approval requirements of MI 61 -101 under sections 5.5(b) and 5.7(1)(a) of MI 61 -101
as the fair market value (as determined under MI 61 -101) of the subject matter of, nor the fair
market value of the consideration for, the aggregate of the total dollar amount of the severance
payment exceeded 25% of the Company's market capitalization (as determined under MI 61-101).
About Camino
Camino is a discovery and development stage copper exploration company. Camino is focused on
advancing its high -grade Los Chapitos copper project located in Peru through to resource
delineation and to add new discoveries. Camino has also permitted the Maria Cecilia copper
porphyry project for a planned exploration drilling program. In addition, Camino has increased its
land position at its copper and silver Plata Dorada project. Camino seeks to acquire a portfolio of
advanced copper assets that have the pot ential to deliver copper into an electrifying copper
intensive global economy. For more information, please refer to Camino’s website at
www.caminocorp.com.
Jose A. Bassan, FAusIMM (CP) 227922, MSc. Geologist, an independent geologist and a qualified
person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has
reviewed and approved the technical contents of this document. Mr. Bassan has reviewed and
verified relevant data supporting the technical disclosure, including sampling and analytical test
data.
ON BEHALF OF THE BOARD For further information, please contact:
/S/ “Jay Chmelauskas” Camino Investor Relations
President and CEO [email protected]
Tel: (604) 493-2058
Neither 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.
Cautionary Note Regarding Forward Looking Statements: Certain disclosures in this release
constitute forward-looking information. In making the forward -looking disclosures in this release,
the Company has applied certain factors and assumptions that are based on the Company’s current
beliefs as well as assumptions made by and information currently available to the
Company. Forward-looking information in the release includes the prospectivity of future exploration
work at Maria Cecilia and the receipt of nec essary authorizations and approvals . Although the
Company considers these assumptions to be reasonable based on information currently available to
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it, they may prove to be incorrect, and the forward -looking information in this release is subject to
numerous risks, uncertainties and other factors that may cause future results to differ materially
from those expressed or implied in such forward -looking information. Such risk factors include,
among others, that actual results of the Company’s exploration activities may be different than those
expected by management, that the Company may be unable to obtain or will experience delays in
obtaining any requi red authorizations and approvals and the state of equity and commodity
markets. Readers are cautioned not to place undue reliance on forward -looking statements. The
Company does not intend, and expressly disclaims any intention or obligation to, update or revise
any forward-looking statements whether as a result of new information, future events or otherwise,
except as required by law.