Camino Corporation Announces Further Drilling Results and New IOCG Alteration Zones at Its Los Chapitos Copper Property
Camino Corporation Announces Further
Drilling Results and New IOCG Alteration
Zones at Its Los Chapitos Copper Property
Vancouver, British Columbia--(Newsfile Corp. - November 24, 2020) -
Camino Corp.
(TSXV: COR)
(OTCQB: CAMZF) (WKN: A116E1) ("
Camino
" or the "
Company
") is pleased to announce results from
the next four holes (DCH-67, 68, 69, and 70) in its 2020 campaign on its Los Chapitos copper project
located in Southern Peru's Arequipa Department that commenced on October 2, 2020.
There are four
more additional drillholes that are pending assay results.
Summary for all holes to date are presented in
Table 1.
Table 1: Drill Intercepts for Holes DCH-066 to DCH-70
HOLE ID
FROM (m)
TO (m)
WIDTH (m)
(not true width)
GRADE (% Cu)
DCH - 066
10
101.2
92.1
0.52
Incl.
68.5
89.3
20.8
0.97
212.1
253.1
41
0.29
DCH-67
19.5
31.5
12
0.39
96.5
107
10.5
0.38
DCH-068
No Significant
Results
DCH-069
22
37.5
15.5
0.35
DCH-070
No Significant
Results
"The objective our drilling campaign has been to delineate copper oxide mineralization closer to surface
and to make new discoveries.
Our recent results have intercepted additional copper (Cu) mineralization
by fence drilling at our Carlotta outcrop, including an additional 41 metres @ 0.29% Cu, from previously
reported 92.1 metres @ 0.52% Cu, in hole DCH - 066 cutting through the Diva Fault. We also
intersected near surface 15.5 meters @ 0.36% Cu intercepting the Diva Fault at the front of our Adriana
outcrop along the Diva Trend in hole DDH-069.
In order to meet a suitable mining tonnage and establish
an oxide mining resource, we are also pursuing new discoveries within the Los Chapitos IOCG system.
Future drilling will target oxide outcrops to the North (Photos 1 & 2) at Olga, Lourdes, and Condori," said
Jay Chmelauskas, CEO of Camino. "Drill hole DDH-070 was designed to intercept copper
mineralisation near surface, and also test the Diva West area for a new discovery on the west of the Diva
Fault.
Drilling into Diva West intercepted highly altered and mineralized rock with sulphides estimated at
up to 10%.
However, our assays did not confirm our expectation of copper sulphides in the drilling
intercepts.
The Diva West volcanics do remain prospective based on oxide copper sampling at Olga
(24m @ 0.56 % Cu) and a rockchip sample hosting 2.2% Cu and 49ppm Ag.
The remaining holes in the
drilling campaign test both the Diva Fault oxide mineralization and Diva West Zone."
Figure 1: Section Locations and Interpreted Extents of the Diva West Sulphide Zone.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/1384/68825_735d7ff654bcf913_001full.jpg
Figure 2: Section A-A' "Carlotta" (Holes DCH-66, 67 and 68) showing near surface oxide
mineralization (1) and deep mineralization on the Diva Fault (2).
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/1384/68825_caminofigure2enhanced.jpg
Figure 3: Section B-B' (DCH-069) with near surface oxide mineralization (1).
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/1384/68825_caminofigure3enhanced.jpg
The "Diva West Sulphide Zone"
The following section for DCH-70 provides a summary of our current understanding of the Adriana/Diva
mineralization.
Figure 4: Section C-C' (DCH-70) showing near surface oxide mantos (1), the Diva Fault and
associated mineralization (2), "Diva West Sulphide Zone" (3) and Olga Zone 200 meters to the
west (4) (off section).
To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/1384/68825_caminofigure4enhanced.jpg
1
.
Near Surface Oxide manto mineralization.
2
.
"High Grade" mineralization associated with the Diva Fault extending to depth.
3
.
The "Diva West Sulphide Zone". After drilling through overlying silica breccia DCH-70 intercepted
a zone of previously unsuspected intense chlorite and argillic alteration from 148m to 221m with
estimated 5% sulphides.
4
.
The "Olga Zone". Historic sampling identified 24m at 0.56% Cu in a road cut approximately 200m
to the west of the "Diva West Sulphide Zone".
The presence of this mineralization to the west of the Diva Fault prompted us to test the extent of this
new sulphide mineralized zone for copper sulphides by drilling past the Diva Fault and into the sulphide
zone.
Holes DCH-71 to 74 have also drilled into the "Diva West Sulphide Zone" (as it is now known) and
intercepted similar sulphide mineralization over similar widths, although results are still pending.
A provisional interpretation of the extent and trend of the Diva West Sulphide Zone is shown in Figure 4.
Although subject to reinterpretation as further results come in, work to date indicates that the mineralized
zone averages about 100m wide and extends NW-SE some 400m and is open at both ends.
"The Diva West Sulphide Zone represents a significant area of altered rock that shows classic IOCG-
style alteration including potassic alteration, magnetite, and mushketovite," said Dr. Owen Miller, the
Company's Exploration Manager in Peru. "As we head North West along the Diva Trend, we find local
miners have historically exploited high grade copper oxide mineralization in these same rocks and also
see significant magnetic anomalies in the geophysical data. All the signs are there that we are on the
trail of a major IOCG system."
The Diva Trend, Lourdes, and Condori
Figure 5 shows the key features that lead the Company to believe that there is a large discovery to be
made at Chapitos.
a
.
The Diva Fault System extending almost 5 kilometers to the North West from Adriana to the
Northern limit of the concession.
b
.
Large alteration zones visible on satellite imagery are now mapped and sampled. The two main
zones at Lourdes and Condori show favourable volcanic host rocks, potassic alteration, magnetite
and outcropping oxide copper mineralization (see Photo 1 & 2).
Photo 1:
Historical Workings at Lourdes NW Alteration Zone
To view an enhanced version of photo 1, please visit:
https://orders.newsfilecorp.com/files/1384/68825_735d7ff654bcf913_005full.jpg
Photo 2:
Historical Workings at Lourdes NW Alteration Zone
To view an enhanced version of photo 2, please visit:
https://orders.newsfilecorp.com/files/1384/68825_735d7ff654bcf913_006full.jpg
c
.
Geophysics show discrete magnetic anomalies on the Diva Trend and also adjacent to the large
Lourdes alteration zone.
Figure 5: Diva Trend Targets.
To view an enhanced version of Figure 5, please visit:
https://orders.newsfilecorp.com/files/1384/68825_735d7ff654bcf913_007full.jpg
Over the coming months the company plans to complete further geophysics (extending the magnetic
survey to the North West with targeted IP surveys on the most prospective areas), more detailed
mapping and sampling, and applying for drill permits on these new target areas.
Core is being logged and sampled at the company's facilities in the town of Chala 15 km from the
project. Samples are sent to Lima to be analysed by ALS Chemex. Further results are pending.
About Camino Minerals Corporation
Camino is a discovery and development stage copper exploration company. The Company is focused
on advancing its high-grade, Los Chapitos copper project located in Peru, towards potential resource
delineation and new discoveries. The company has commenced field studies at its copper and silver
Plata Dorada project.
The Company seeks to acquire a portfolio of advanced copper assets that have
the potential to deliver copper into an electrifying copper intensive global economy. For more
information, please refer to Camino's website at
www.caminocorp.com
.
Owen D. W Miller, Ph.D FAusIMM(CP) a Qualified Person as defined by NI 43-101, has reviewed and
approved the technical contents of this document.
ON BEHALF OF THE BOARD
/S/ "Jay Chmelauskas"
President and CEO
For further information, please contact:
Camino Investor Relations
Tel: (604) 608-4513
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 the project for future exploration,
results of the balance of the current drilling program, on the interpretation of existing exploration the
Los Chapitos copper project and that actual results of exploration and engineering activities are
consistent with management's expectations. Although the Company considers these assumptions to
be reasonable based on information currently available to 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 will be different than those expected by management, that the Company will be
unable to obtain or will experience delays in obtaining any required 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.
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.
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