TSX Venture Symbol: COR
OTCQB Symbol:
CAMZF
Frankfurt Symbol: XC01
VANCOUVER, April 26, 2018 /CNW/ - Camino Minerals
Corporation ("Camino" or the "Company") (COR: TSX-V) is pleased to
report results for the first diamond drill hole completed as part
of the 2018 drill program on the Adriana Zone ("Adriana") at its
Los Chapitos Project ("Chapitos"), located in southern
Peru.
Select drill highlights are:
- DCH-058 intersected 0.37% copper over 18.50 meters, including
0.53% copper over 6.10 meters.
DCH-058 was drilled 100 meters to the northwest of holes DCH-32
and DCH-34, which were on the westernmost section drilled in
2017. Hole DCH-58 is also northwest of the Adriana discovery
outcrop, and was drilled below the ridge which features no copper
mineralization on surface.
The hole confirmed that the mineralization and stratigraphy are
continuing down dip as predicted, and in particular, is similar to
the intersections in hole DCH-32 on the adjacent section (0.21%
copper over 29.2 meters, Section 190 – Pad 1). A follow-up
drill hole will be completed to drill below hole DCH-58 and test
for thicker intervals of high grade mineralization similar as to
those seen in holes DCH-34 (0.85% copper over 95 meters, Section
190 – Pad 1), DCH-19 (0.97% copper over 42 meters, Section 230 –
Pad 2A), and DCH-12 (0.93% copper over 96.5 meters, Section 230 –
Pad 2A). The Adriana Zone remains open for expansion in
all directions as shown on the updated set of plans and sections
which are available on the Company website at
www.caminominerals.com.
Kenneth McNaughton, President and
CEO, said, "The significance of this intersection is greater than
what it may appear. It confirms the system can be extended into
areas where there is little or no surface expression. It also means
the exploration potential of the project is much higher than what
we saw when we started work in 2017.
"Our initial work had targeted areas with outcropping
mineralization, then expanded those zones through geophysics,
trenching and drilling and now reveal what we believe are largely
continuous zones of mineralization that remain open for
expansion.
"With the completion of the successful soil survey in early 2018
along the Diva Structure, which revealed anomalous copper
geochemistry along the six kilometer-long trend, this low cost
method proved that geochemical sampling is an effective prospecting
tool in an IOCG setting and will be used to evaluate the rest of
the property."
The copper mineralization is potentially more pervasive than
outcrop would suggest so Camino has staked additional claims and
increased the size of the project by 20% to over 14,000 hectares. A
property-wide geochemical sampling program is now being planned
with two primary objectives: (1) identify new zones of previously
unrecognized mineralization and (2) to prioritize exploration over
the entire property.
Meanwhile diamond drilling continues with a total of four
additional holes having been completed testing for southeast
extensions of the Adriana Zone. Surface work on the Maria
geochemical anomaly has exposed the continuation of the Diva
Structure cutting across a large area which appears to host
favorable lithologies that have been highly altered and brecciated.
The zone will need to be properly mapped and sampled prior to
drilling.
Kenneth C. McNaughton, M.A.Sc.,
P.Eng., is the Qualified Person (QP) responsible for the Chapitos
project.
Updated drill sections and summary presentation are presented
separately and can be found on the company website at
www.caminominerals.com.
Table 1: Selected Diamond Drill Results,
(1,2)
Hole
Number
|
Pad
#
Dip/Azimuth
(degrees)
|
From
(meters)
|
To
(meters)
|
Interval
(meters)
|
Total
Copper
(%)
|
Soluble Copper
(%)
|
Adriana
Zone
|
|
|
|
|
|
|
|
DCH-058
|
Pad - 5
|
18.50
|
27.50
|
9.00
|
0.21
|
0.06
|
|
-60/220
|
135.50
|
154.00
|
18.50
|
0.37
|
0.28
|
Incl.
|
|
138.00
|
144.10
|
6.10
|
0.53
|
0.42
|
|
|
190.00
|
200.00
|
10.00
|
0.21
|
0.12
|
(1)
|
True thickness to be
determined.
|
(2)
|
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 soluble copper
by sequential leaching where they are first agitated at room
temperature in a 5% sulphuric acid solution with the copper content
measured by AA. The tails from the acid leach are then agitated in
a 10% sodium cyanide solution with an AA finish to determine the
amount of copper contained in secondary sulphides such as
chalcocite and bornite. 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.
|
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.
Cautionary Note Regarding Forward-Looking Statements and
Information
This News Release contains "forward-looking information" and
"forward looking statements" within the meaning of applicable
Canadian and United States
securities legislation. Statements contained herein that are not
based on historical or current fact, including without limitation
statements containing the words "anticipates," "believes," "may,"
"continues," "estimates," "expects," and "will" and words of
similar import, constitute "forward-looking statements" within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995.
Forward-looking information may include, but is not limited to,
information with respect to our planned exploration activities, the
adequacy of our financial resources, the estimation of mineral
reserves and resources, the results of future exploration and
drilling. Wherever possible, words such as "plans",
"expects", "projects", "assumes", "budget", "strategy",
"scheduled", "estimates", "forecasts", "anticipates", "believes",
"intends", "targets" and similar expressions or statements that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved, or the negative forms of
any of these terms and similar expressions, have been used to
identify forward-looking statements and information.
Forward-looking information is subject to a variety of known and
unknown risks, uncertainties and other factors that could cause
actual events or results to differ from those expressed or implied
by the forward-looking information, including, without limitation,
those risks identified in the Company's annual disclosure
materials, filed with the securities regulatory authorities in
Canada and available at
www.sedar.com. Readers are encouraged to read these
materials. Prospective investors should not place undue
reliance on forward-looking information.
Neither the 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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content:http://www.prnewswire.com/news-releases/camino-continues-to-expand-adriana-zone-with-northwest-step-out-drilling-300636835.html
SOURCE Camino Minerals Corporation