Camino Provides Chapitos Update
Camino Provides Chapitos Update
Edmonton, Alberta--(Newsfile Corp. - June 18, 2019) -
Camino Minerals Corp.
(TSXV: COR) (OTCQB: CAMZF) (WKN:
A116E1) ("
Camino
" or the "
Company
") is pleased to provide an exploration update for the 22,000-hectare Chapitos copper-
gold project, near Chala, Southern Peru.
CEO John Williamson commented, "Excellent ongoing work by our geological team is unlocking the value of the Chapitos
project and we look forward to the 2019 drilling program with much anticipation."
Soil and Rock Sampling Summary
An extensive soil sampling program covering the entire Chapitos property has recently been completed with 400 m line spacing
and 25 m sample intervals, including select areas with tighter 200 m line spacing. The entire data set consists of over 17,000
soil samples across the 22,000-ha property. The majority of these samples were initially analyzed for Cu-only using a portable
XRF analyzer with the remainder of the samples submitted for multi-element ICP analysis. Contoured copper-in-soil data is
illustrated on Figure 1. The data highlighted the known zones of copper mineralization on the Diva and Atajo Trends, although
interestingly the strongest anomalies are spatially associated with monzonite intrusive bodies and the newly discovered Lidia
Zone. Collectively over 40-line kilometres of soil anomalies have yet to be explored.
Subsequent work on the various zones of mineralization resulted in the recognition of the project's potential to host a number of
geochemically diverse styles of mineralization (i.e. Cu Manto, Cu Porphyry-IOCG, structurally hosted and/or disseminated Au,
etc.). As such Camino is in the process of reanalyzing the archived soil samples to collect the full spectra XRF data to determine
pathfinder element relationships associated with various styles of mineralization, providing priority targets for trenching, ground
geophysics, mapping, prospecting, and expanded soil sampling programs.
Follow-up prospecting of the copper-in-soil anomalies has extended the mineralization along strike at both the Diva and Atajo
Trends, with rock samples although selective in nature up to 6.91 % copper and 6.03 % copper, respectively (Figure 1). The
Diva Trend can now be traced along strike for >7 km and the Atajo Trend for >12 km, both of which remain open. Detailed
geological mapping and prospecting is ongoing in this area to delineate possible drill targets for the 2019 program. Previously
unrecognized mineralization at what is now known as the Lidia Zone (
see March 28 press release
) was identified from a large 3
km by 4 km copper-in-soil anomaly, approximately 5 km northwest of the Adriana Zone. A total of 238 rock samples have been
collected in the Lidia area that, although somewhat selective in nature, collectively average 0.20 g/t gold and 0.75% copper with
individual samples returning values of up to 11.1g/t gold and 23.4% copper (Figure 1). Mineralization is hosted within stockwork
quartz veins, some of which are associated with zones of shearing and brecciation within the host Monzonite. This style of
mineralization differs from that observed on the Diva Trend and further work is ongoing to characterize the Lidia copper-gold
zone.
Figure 1: Chapitos exploration zones and rock sample data overlain on contoured copper-in-soil data.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/1384/45671_bad37f33145649f8_001full.jpg
Drilling Results Summary
To date on the Chapitos project the drilling has focused primarily on the Diva Trend mineralization with the exception of several
exploratory holes on the Atajo Trend. The drilling on both Trends has been spatially restrictive because of permitting limitations.
This has recently been remedied with the approval of Camino's 200 drill-pad permit allowing for 908 holes or 445,000m of
drilling over the next 3.6 years (
see June 7 press release
).
Drilling on the Diva Trend has focused on mineralization and
associated alteration envelope that is spatially related to the northwest-southeast oriented steeply-dipping Diva structure. The
mineralization can in general be subdivided into an upper copper-oxide bulk-tonnage zone with broad intercepts and a deeper
high-grade copper-sulphide rich zone, a summary of select drill holes is highlighted below in Table 1. At deeper levels in the
system and with proximity to the Diva fault the mineralization is associated with a structurally controlled breccia zone which has
been cemented with copper sulphides. This mineralization may have been remobilized at higher levels and is in places
stratigraphically controlled oxide copper and chalcocite mineralization. The mineralization on the Diva Trend remains open along
strike and at depth.
Table 1: Selected Drill Results
Hole ID
Zone
Dip
Azimuth
From (m)
To (m)
Interval (m)*
Copper Grade (%)
CHR-002
Adriana
-50
135
188
294
106
1.3
Incl.
230
268
38
2.12
DCH-001
Adriana
-62
135
190
358.5
168.5
0.72
Incl.
330
357
27
1.63
DCH-012
Adriana
-56
229
175
271.5
96.5
0.93
Incl.
197.5
217
19.5
2.03
Incl.
24.5
250
4.5
5.01
DCH-019
Adriana
-45
229
201.5
243.5
42
0.97
Incl.
222.5
230
7.5
3.31
DCH-025
Adriana
-45
225
158.9
175.2
16.3
1.43
Incl.
168.5
175.2
6.7
2.62
DCH-049
Adriana
-55
195
106.1
155.5
49.4
0.82
Incl.
137.5
146.5
9
2.04
DCH-024
Adriana
-63
205
226
308.5
82.5
1.31
Incl.
263.5
295.2
31.7
2.19
DCH-034
Adriana
-60
190
63.5
158.5
95
0.85
Incl.
125.6
131.8
6.2
2.81
Incl.
152.3
158.5
6.2
3.16
DCH-033
Adriana
-62.5
218
316
386.3
70.3
1.14
Incl.
335.7
347.7
12
3.16
DCH-046
Atajo
-45
225
48.4
64.7
16.3
0.83
Incl.
51.2
56.2
5
2.09
DCH-041
Atajo
-45
270
28.5
46.3
17.8
0.75
Incl.
40.3
43.3
3
2.15
DCH-017
Katty
-50
28
73.3
91.8
18.5
1.3
Incl.
83
91.8
8.8
2.2
*True thickness to be determined.
The Diva Trend has alteration and mineralization consistent with both IOCG and Chilean 'Manto style' mineralizing system, as
illustrated on Figure 3. Only 100 km northwest of the Chapitos property is the Mina Justa IOCG deposit that has reserves of
346.6 Mt at 0.71% Cu. Using Mina Justa as an analogue for Chapitos in conjunction with the schematic deposit model below
provides an effective exploration tool to evaluate other areas of the property.
Figure 2: Schematic deposit model
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/1384/45671_bad37f33145649f8_002full.jpg
2019 Drilling Program
The 2019 drilling program has been designed after compilation of the company's previous drilling, extensive geophysical and
geochemical datasets, and bedrock mapping results on the property. The flexibility in drilling location provided by the new 200
drill-pad permit allows Camino to optimize drill collar locations along the Diva Trend. This, in conjunction with a planned
geophysics program, will help further define and potentially expand on the copper mineralized zones at Adriana, Katty, and along
strike to Vicky, but also include drilling designed to evaluate the potential for additional zones of copper mineralization along the
Diva Trend. The drilling will be completed in two phases. Phase one has been designed to expand areas of known
mineralization and test the continuity of the mineralizing system between zones, allowing for the potential expansion of the
mineralized footprint (Figure 2). Phase two will trace the mineralization to depth and include exploratory drilling of new targets
along the Diva Trend. This drilling program will enable the Company to further its understanding of the geology and
mineralization as it works towards gathering information for a future resource estimation effort.
Figure 3: 2019/20 proposed drilling plan on the Diva Trend
To view an enhanced version of
Figure 3, please visit:
https://orders.newsfilecorp.com/files/1384/45671_bad37f33145649f8_003full.jpg
Other
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 select samples were analyzed for gold using fire assay with AA finish.
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.
Grant of Stock Options
The Company has granted incentive stock options to various directors, officers and consultants to purchase up to 2,500,000
common shares of the Company on or before June 17, 2024, at an exercise price of $0.15 per share.
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
.
ON BEHALF OF THE BOARD
/S/ "John Williamson"
Resident and CEO
For Further information, please contact:
Jeremy Yaseniuk, Director
Tel: (604) 773-1467
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.
This news release may contain certain "forward looking statements". Forward-looking statements involve known and unknown
risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the
Company to be materially different from any future results, performance or achievements expressed or implied by the
forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as
may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking
statement, whether as a result of new information, future events or results or otherwise.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/45671