-- Published: Thursday, 24 May 2018 | Print | Disqus
TSX Venture Symbol: COR
OTCQB Symbol: CAMZF
Frankfurt : XC01
VANCOUVER , May 24, 2018 /CNW/ - Camino Minerals Corporation ("Camino" or the "Company") (COR:TSX-V) is pleased to report results for the four southeast step out diamond drill holes completed as part of the 2018 drill program on the Adriana Zone ("Adriana") at its Los Chapitos copper project ("Chapitos"), located in southern Peru. This drilling has now defined the Adriana mineral system for over 1,000 meters while the Diva Structure has been mapped on surface for over six kilometers. Ongoing work suggests that copper mineralization, such as the Adriana and Katty Zones, can potentially be found anywhere along its length.
Selected drill highlights are:
- DCH-061 intersected 0.68% Cu over 10.00 meters, including 1.05% Cu over 5.00 meters;
- DCH-062 intersected 0.43% Cu over 21.60 meters, including 1.64% Cu over 1.50 meters.
Holes DCH-059 through DCH-062 were drilled as step out holes targeting the southeast extension of Adriana. Holes DCH-060 and DCH-062 were drilled to test mineralization found as a result of the earlier soil sampling program. All four holes intersected the Diva Structure which is interpreted to be the feeder zone for Adriana. The drill program was completed in early May and assays for the three remaining holes will be released when available. A total of 17,500 meters of diamond drilling has been completed to date on the project.
Kenneth McNaughton , President and CEO, said, "Our work to date has looked at less than ten percent of the project so the Company will now focus on evaluating the rest of the property before resuming drilling. We continue to make new discoveries on a regular basis. For example, new copper mineralization was found along a 100-meter road cut south of the collars of holes DCH-060 and DCH-061. This new mineralization was first identified by soil sampling and subsequent prospecting. Soil sampling is providing growing evidence that Chapitos has excellent potential to host several significant copper deposits."
Field crews have started work on the regional soil sampling program which will survey approximately 400-line kilometers of grid. Analysis of the roughly 16,000 soil samples will be done on site using a portable XRF, with about 5% of the samples also being sent to the lab for confirmation ICP analysis. This will allow the Company to complete the survey at relatively low cost and be able to add infill sampling on anomalous areas almost immediately.
The first phase of this work has targeted the southern trend which hosts the Atajo and PDA zones located six kilometers southwest of Adriana. Work was prioritized on this trend since prospecting had previously identified some impressive copper showings. Preliminary results are encouraging and will be reported when this grid has been fully tested. The northern grid, which includes Adriana and Katty, will then be expanded to test along its full strike and some parallel zones to the north.
Scoping level metallurgical studies have been started which include bottle roll and column tests on four copper oxide composites from Adriana and Katty, and flotation test work on a single sulphide rich composite from Adriana. The program is expected to be completed in Q3 of 2018.
Kenneth C. McNaughton , M.A.Sc., P.Eng., is the Qualified Person (QP) responsible for the Chapitos project.
Updated drill sections and summary presentation can be found on the company website at www.caminominerals.com.
Table 1: Selected Diamond Drill Results, (1,2)
Pad - 6
-52.5 / 225
Pad - 7
-50 / 224
Pad - 7
-70 / 224
Pad - 8
-50 / 221
(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.
SOURCE Camino Minerals Corporation
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-- Published: Thursday, 24 May 2018 | E-Mail | Print | Source: GoldSeek.com