Camino Identifies New Copper Satellite Zones along major La Estancia Fault at the Los Chapitos Copper Project in Peru
Camino Identifies New Copper Satellite Zones along major La
Estancia Fault at the Los Chapitos Copper Project in Peru
Vancouver, Canada, October 22, 2024 – Camino Minerals Corporation (TSXV: COR) (OTC: CAMZF)
(“Camino” or the “Company”) is pleased to provide an update on the progress of the Summer 2024
mapping and exploration campaign at the Los Chapitos copper project (“Los Chapitos” or the
“Project”) in Peru. During the summer geological mapping campaign, collaborative efforts between
Camino and its exploration partner Nittetsu Mining CO., LTD (“Nittetsu”) have significantly
advanced the 1:5,000 and 1:2,000 geological mapping program, which successfully identified new
prospective copper oxide areas at the La Estancia trend that hold pot ential for future exploration
drilling and development. This La Estancia fault extends for approximately 12 km through Camino’s
claims to the property boundary where Rio Tinto recently staked claims in 2024 ( see news release
dated May 17, 2024). Diamond drilling is anticipated to commence as early as December 2024.
Advanced exploration at Los Chapitos in Peru compliments Camino’s corporate strategy to develop
production behind the recently announced agreement to purchase the Puquios construction-ready
copper mine in Chile (see news release dated October 7, 2024).
Highlights:
• Identification of five new exploration targets at La Estancia.
• Discovery of additional copper zones at Pilar Maria along the Diva Trend.
• Notable mineralization at multiple targets, including:
o Pampero: Up to 3.8% copper (Cu) and 4.0 ppm silver (Ag) in geochemical samples.
o Pilar Maria: Copper oxide grades reaching 7.3% Cu and 54 ppm Ag.
o Sombrero Blanco: Copper oxide mantos and exotic surface copper deposits.
• Drilling to begin at prioritized targets as early as December 2024 with the anticipated new
tranche of $1.5M earn-in funding from Nittetsu.
• Ongoing exploration will also target structural controls across the 12 km La Estancia trend,
aligned with copper-rich IOCG systems such as Candelaria and Mantoverde.
Over 25,000 meters of drilling has previously been completed at the Los Chapitos claims, and new
satellite deposits are being sought centered on the La Estancia fault along its northwest trend ,
including north to south trending conjugate faults. Studies of other Iron Oxide Copper Gold (“IOCG”)
districts shows up to 80% of the metallic endowment of these systems can be found within 2 km
associated with structural controls such as at the Candelaria, Mantoverde, El Soldado, and Michilla
mines, which together with the level of erosion regulate the copper metal content in the deposit.
Thus, we have tightened up our geological mapping closer to La Estancia, while still working to
expand and identify new zones along our 8 km Diva Trend.
The new targets at Los Chapitos have similarities to the manto -type copper deposits of northern
Chile and continue to show excellent potential for copper-silver manto and IOCG type deposits.
“Los Chapitos is target-rich for copper discoveries with multiple new high priority copper exploration
areas identified through the 2024 summer program,” commented Jay Chmelauskas, Camino’s CEO.
“Furthermore, we believe that our Los Chapitos copper exploration in Peru, is next in line for
development after our recent ly executed definitive agreement for the construction -ready and
permitted Puquios copper mine in Chile.”
Figure 1. Location of the main copper exploration targets at Los Chapitos 2024.
During the 1:5000 scale geological mapping campaign, five zones of exploration interest have been
identified at the La Estancia fault: Pampero, Sombrero Blanco, Ocoa, Medanos, and Vizcacha (Figure
1).
The main objective of the summer mapping campaign was to evaluate the ranking targets within
the La Estancia area, which are Pampero and Sombrero Blanco where a 1:2000 scale mapping has
been carried out, showing new minor faults that control the mineralization found on the surface.
The mineralization found at the Pampero target corresponds to copper oxides and sulfides such as
malachite/atacamite, chrysocolla, chalcopyrite, and specularite (Figure 2) with strong chloritic -
sericitic-silice alteration on the surface at the contact of the intrusive bodies of gran odioritic-
monzonite composition in contact with the Chocolate Formation. As part of the activities at the
Pampero target, geochemical sampling was carried out in trench channels and mineral occurrence
areas where the results showed high values of up to 3.8% for Cu and 4.0 ppm for Ag.*
Figure 2. Plan view showing location of the target Pampero and the occurrences of copper oxides.
* Sample X073899/2024 lithology: tuff of andesitic crystals of the Fm. Chocolate with siliceous alteration. With
abundant copper oxides, such as malachite and brochantite. The sample was taken in 1m of channel within a
6m trench length with az N°30 (metric location, x:563662, y:8270313, z:700), received sample weight in the
lab (WEI-21), 2.52kg.
At the Sombrero Blanco target, the mapped mineralized zones are in the footwall of La Estancia
fault, and the hanging wall and footwall of the Sombrero fault (new ly recognized fault).
Mineralization would be controlled by the Sombrero fault conduits and mineralized hydrothermal
breccias. These conduits generate mineralized “mantos” in andesitic tuffs and volcanogenic rocks,
with oxide mineralization (malachite, atacamite, chrysocolla). Several new copper manifestations
were identified in outcropping, searches and trenches. The mineralized zones have been recognized
as copper oxide mantos, mineralized breccias, and exotic copper deposits on the surface (Figure 3).
The intersection of major structures, such as the La Estancia fault, with other minor structures allows
the opening for feeders and feeder type mineralization conduits and lentiform mantos that are
similar those mapped in previous years along the Diva Trend.
Figure 3. Plan view showing location of the target Sombrero Blanco and the occurrences of copper oxides.
The Pilar Maria target is located within the area that historically has been called the Diva Trend,
where mapping has been carried out at a scale of 1:2,000 covering approximately 180 ha, that hosts
copper oxides and sulfides mineralization , with strong copper geochemical signatures. The rock
geochemistry showed copper oxides grades up to Cu 7.3% Cu and 54ppm Ag (Sample
M203568/2016).
Pilar Maria is also near the new ly identified deep-seated Rumi Puka fault that intercepts the Diva
structure.
These mapping results provide a broad framework of the geology, structure, and alteration and
confirm the potential for significant copper mineralization. Two styles of mineralization have been
recognized.
The first, c opper oxides occurrences are linked to bands of strong potassic alteration with
chalcopyrite. On surface, copper oxides are scattered throughout the area, consisting of malachite,
brochantite, chrysocolla, and sporadically chalcocite, bornite (Figure 4). There is another group of
copper oxides occurrences linked to the Diva fault.
The second style occurs in the propylitic alteration zone, where chalcopyrite is found in sporadic
geodes or druses composed of calcite -epidote-chalcopyrite. Considering the geology, faults,
geochemistry and occurrences of mineralization, three new targets have been defined: Maqui, Diva,
and Apu.
Figure 4. Plan view showing location of the target Pilar Maria and the occurrences of copper oxides
and sulfides.
La Estancia and Diva Trend boast significant exploration upside with several new high priority targets
to be drill tested, mainly at Pampero and Pilar Maria where drilling activities are planned to start as
early as December.
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 Mari a Cecilia copper
porphyry project for an 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 potential 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, MSc. Geologist, an independent geologist FAusIMM (CP) 227922, 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 Los Chapitos, future planned drilling programs, prospectivity for copper exploration in new
targets; expectations for joint ventures and/or strategic partnerships with respect to the Company’s
properties and the receipt of necessary authorizations and approvals. 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 res ults 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 not realize the benefits of joint ventures and/or strategic
partnerships with respect to the Company’s properties, that the Company may be unable to obtain
or may experience delays in obtaining any required 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 wh ether as a result of new
information, future events or otherwise, except as required by law.