Parallel fault structures along Atajo and Lagunillas are also prospective for copper discoveries within the Los Chapitos claims. The drilling at Los Chapitos is targeting new copper mineralization in addition to the previously drilled Adriana Zone, as newly permitted areas
VANCOUVER, BC/ ACCESSWIRE/ December 14, 2021 / Camino Corp.
(TSXV:COR)(OTCPINK:CAMZF)(WKN:A116E1) ("Camino" or the "Company") is pleased
to announce that discovery drilling at its Los Chapitos copper project (Los Chapitos), consisting
of 5 exploration drillholes, intercepted anomalous copper mineralization over a strike extent of
approximately 6.5 kilometres (Figure 1 and Table 1) with grades up to 1.05% Cu. The drillholes
also contained consistent cobalt mineralization, and trace amounts of silver and gold. Drilling to
date has only tested a portion of the copper mineralization along the more than 8 km Diva Trend.
Parallel fault structures along Atajo and Lagunillas are also prospective for copper discoveries
within the Los Chapitos claims. The drilling at Los Chapitos is targeting new copper
mineralization in addition to the previously drilled Adriana Zone, as newly permitted areas
become available for drilling. At the Adriana Zone, drilling results reported in January 2021
showed significant intercepts of copper mineralization, including 55.5 m of 0.72% copper (Cu),
with 22.5 m @ 1.15% Cu (see news release dated January 19, 2021). The next priority drill target
is the Lourdes copper oxidized outcrop with geological similarities to Adriana.
Highlights:
• Initial 5 exploration drillholes show anomalous copper, cobalt, and trace gold and silver
with up to 1.05% copper and 0.36 g/t gold, covering 6.5 km of strike extent on the Diva
Trend and only a fraction has been drill tested with very encouraging results in this round
of exploration drilling.
• Drilling i dentified copper sulphides in both volcanic and intrusive rocks that indicate
potential for a sulphide feeder deposit.
• The next priority drill target is at the Lourdes outcrop (Figure 1), which shows structurally
controlled manto -style copper oxide mineral ization similar to the Adriana and Carlotta
zones.
"We appear to be in the right geological sequence of rock for a large discovery to be made that is
similar to the nearby large manto-style Mina Justa deposit. The presence of mineralized intercepts
is giving us confidence that we are drilling near a large distal ore body," said Chief Geologist, Jose
Bassan. "Chalcopyrite, chalcocite, bornite, and oxidized copper have been logged in a rock
assemblage of volcanic andesitic tuff with moderate alteration and th e presence of epidote,
chlorite, hematite, magnetite, and carbonates, and evidence of magnetite replacement by
specularite. This is a lithological sequence similar to the new Mina Justa copper mine that is hosted
in the same Chocolate Formation as Los Chapitos."
Figure 1. Alteration Plan Map of Diva Trend Showing Recent and Historical Drillholes
The Company expects that a Declaracion Impacto Ambiental ("DIA") drilling permit will be
received imminently, allowing for drilling to commence in the new Lourdes and Condori Zones
located 3 km north of the Adriana Zone. The Company plans to prioritize its drilling between its
Los Chapitos Project and its new Maria Cecilia copper porphyry project pending receipt of permits
in the new year.
"We are selectively stepping out and drilling new mineralized areas as new permits become
available at both our Los Chapitos and Maria Cecilia copper projects," said Jay Chmelauskas, CEO
of Camino. "Both copper projects are expected to receive new DIA drilling permits at the end of
2021 or beginning of 2022, which will allow for more discovery drilling at the beginning of 2022.
These projects have the right geology to make large scale copper discoveries which is our
opportunity early next year."
Figure 2. Chocolate Formation Hosting Copper Oxides in Drillhole DCH-074 at 74 Metres
The mineralization encountered in the recent drilling campaign was int ercepted in volcanic
andesites known as the Chocolate Formation (Figure 2), which is a sequence of volcanic rocks that
extend along the coast of Peru and host other significant mining projects. Notably, the Mina Justa
copper mine, located 100 km north of L os Chapitos, is Peru's newest copper and gold mine with
invested capital of over $1.6 Billion. The Company believes that Los Chapitos has a similar
alteration assemblage with hematite, magnetite, epidote, chlorite, feldspar, potassium, and calcite
capable of hosting a major deposit like Mina Justa (Figure 3).
Figure 3. Mina Justa Copper Deposit Footprint Compared Against the Los Chapitos Claims
All 5 exploration drillholes, totalling appro ximately 1,400 metres, have intercepted anomalous
copper mineralization. Three drillholes in the Lidia Zone located 4 km to the north of the Adriana
Zone and spaced approximately 75m apart, DCH -075, DCH -076, DCH -077, have intercepted
copper mineralization up to 0.34% Cu and 0.36ppm Au, that appears continuous and manto -like
between drillholes.
A step-out hole 1 km south of Adriana has extended the mineralization halo in the Katty Zone by
200 m. Drillhole DCH-079, located 2.5 km to the south of Adriana, intercepted anomalous copper
enriched in secondary sulfide chalcocite, bornite, and covellite with up to 1.05% Cu and 9.32ppm
Ag. The Company believes that the anomalous copper results in exploration drilling support the
potential for a large-scale distal deposit.
Camino is selectively drilling new areas that the Company believes could intercept additional
mineralization like the copper oxides at Adriana. The recent drilling campaign has also identified
copper sulphides in the intrusive monzonite that may indicate a sulphide feeder deposit that would
account for the widespread copper oxide mineralization at surface. Copper sulphides were also
encountered in our 2020 drill campaign where DCH-072 intercepted up to 2.04% Cu in monzonite
intrusives. The sulphide mineralization provides additional exploration potential at Los Chapitos.
Figure 4. 2020 drill campaign. Chalcopyrite in hole DCH-072, interval 481.7-483.8m copper
value up to 2.04% Cu
Table 1. Drilling Results from Fall 2021 Drilling Campaign at Los Chapitos
Additional Information:
• Figure 5 - Geophysics Plan Map of Diva Trend Showing Recent and Historical Drillholes
• Figure 6 - Oblique Cross-Section of Drillholes DCH-075, 076, 077
• Figure 7 - Cross-Section of Drillhole DCH-078
• Figure 8 - Cross-Section of Drillhole DCH-079
• Figure 9 - Cross-Section of Drillholes DCH-078 and DCH-079
About Camino Minerals Corporation
Camino is a discovery and devel opment 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. In addition, the company has commenced field studies
at its copper and silver Plata Dorada project. Camino has also recently acquired the Maria Cecilia
copper porphyry 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.
Jose Bassan MAusIMM (CP) 227922, MSc. Geologist, a Qualified Person as defined by NI 43 -
101, 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 Statement s: 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 ass umptions made by and information currently available to the Company.
Forward-looking information in the release includes the prospectivity of future exploration work
on the Los Chapitos and Maria Cecilia projects the ability to complete the necessary permi t
requirements for drilling, or 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, t hey 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.
SOURCE: Camino Minerals Corp.