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Camino Intercepts 55.5 m @ 0.72% Cu and Near-Surface 64.5 m @ 0.6% Cu, on Its Los Chapitos Copper Property

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Camino Intercepts 55.5 m @ 0.72% Cu and Near-Surface 64.5 m @ 0.6% Cu, on Its Los Chapitos Copper Property

 

 

 

 

 

Camino Corp. (TSX-V: COR) (OTCQB: CAMZF) (WKN: A116E1) is pleased to announce the results of the last four pending drill holes (Holes DCH-71, 72, 73, and 74) from the 2020 drill campaign on its Los Chapitos copper project located in Southern Peru’s Arequipa Department. Significant intercepts in the remaining four drill holes of the 2020 campaign include DCH-071 with 55.5 m of 0.72% copper (Cu) (incl. 22.5 m @ 1.15% Cu) and near-surface DCH-074 with 64.5 m of 0.6% Cu (incl. 12 m @ 1.05% Cu). This is in addition to our first drill hole DCH-066 that intersected near-surface 92.1 m of 0.53% Cu (incl. 20.8 m @ 0.97% Cu). The Company intercepted copper mineralization in 8 out of 9 drill holes for the 2020 drill program, summarized in Table 1. The program consisted of 9 HQ diamond drill holes totalling 2,358.1 m and brings the overall meterage on the property to 21,519 m.

 

“Camino is back to drilling new significant copper intercepts after our initial discovery made at Los Chapitos in 2017 and 2018,” said Ken McNaughton, Director of Camino Corp.

 

Photo 1. HQ core from DCH-074 with disseminated copper oxides in vesicles grading 1.4% Cu at 65 m depth

 

“The 2020 drill program has been successful in expanding high-grade copper mineralization and identifying potential near-surface copper tonnage at Los Chapitos,” said Jay Chmelauskas, President & CEO. “We’ve demonstrated more disseminated manto-style high-grade copper mineralization (Photo 1) that will support our geological block model (Figure 2) to delineate a future maiden copper resource at Los Chapitos. Major alteration zones identified at Chapitos in Diva West and to the north provide our next drilling targets. Copper prices are on the rise and it is an excellent time to be drilling copper discoveries.”

 

“Camino has a large land position with over 220 square kilometres of claims in a target-rich IOCG-style copper system. Recent successful IOCG discoveries and developments include Marimaca Copper (M&I 70Mt @ 0.6 % Cu, Marimaca Corporate Presentation, December 2020) in Chile, and the $1.6B investment at Mina Justa (M&I 337 Mt @ 0.76% Cu, NI 43-101 Technical Report, June 2009) located 100 km north of our Chapitos project. In the new electrification driven copper cycle, we plan to step out and drill new targets where we have copper oxidized outcrops and significant areas of alteration, like Olga, Lourdes, and Condori, to see if we can make a major discovery,” said Chmelauskas.

 

“Surface sample results from Los Chapitos field mapping covering new drill targets will be released in several weeks. Samples taken in the Diva West area include a sample of 2.2% Cu and 45 g/t silver (Ag), and a vein sample located approximately 1.5 km southeast along the Diva Trend of our current drill program returned 10.15% Cu and 173 g/t Ag.”

 

“Lastly, Camino is very active on the corporate development front. The next project to watch at Camino is the silver and copper project at Plata Dorada. Mineralization is dominated by copper and silver with historic sampling ranging from 0.3 to 8.7% Cu, and 70 g/t to over 1500 g/t Ag. Gold (Au) is present in trace amounts. We have identified new vein systems and results from geological surface sampling are expected at the end of January.”

 

Figure 1. Locations of the 2020 drillholes along with alteration and Diva West surface samples

 

The longitudinal section (Figure 2) through Adriana shows the geological block model currently under development. The recent 2020 drilling campaign was designed to identify copper mineralization closer to surface and has successfully intercepted copper as shown in drill holes DCH-066, DCH-071 and DCH-074.

 

Figure 2. Longitudinal Section Along Mineralization

 

Section DCH-074 (Figure 3) containing drillholes DCH-072 and DCH-074 shows manto-style copper mineralization near surface, and the continuation of the Diva Structure at depth.

 

Figure 3. Section DCH-074 – Disseminated and Fault-Controlled Manto-Style Copper Mineralization

 


Figure 4. Section DCH-071 – Fault-Controlled Copper Mineralization

 

Figure 5. Section DCH-066 – Disseminated and Fault-Controlled Manto-Style Copper Mineralization

 

The 2020 drilling campaign:

 

  • Proved the existence of near-surface high-grade oxide mineralization in a trend along the Diva structure, which is expected to add tonnage for resource delineation studies.
  • Confirmed the presence of mineralization on the Diva Structure at depth in holes DCH-066 and DCH-072 and validated the overall geological model.
  • Marked the discovery of a large previously unknown alteration system hosting the Diva West Sulphide Zone. The Company believes that the Adriana mineralization zone represents the start of a potential significant copper mineralized IOCG system at Los Chapitos.

 

 

All results are shown in Table 1, with eight out of the nine holes intersecting mineralization.

 

HOLE ID EASTING NORTHING AZIMUTH DIP LENGTH
(M)
FROM TO WIDTH GRADE
(% Cu)
DCH-066 574472 8266614 225 -50 301.5 10 102.1 92.1 0.53
incl 46 55 9 1.18
incl 68.5 89.3 20.8 0.97
212.1 253.1 41 0.29
DCH-067 574472 8266614 225 -80 129.4 19.5 31.5 12 0.39
79.5 107 27.5 0.27
incl 96.5 107 10.5 0.40
DCH-068 574472 8266614 45 -75 40.4 16 22 6 0.17
DCH-069 574045 8266758 225 -45 155.8 22 37.5 15.5 0.39
DCH-070 574164 8266765 225 -45 290.4 0 24 24 0.13
54 70 16 0.15
88 96 8 0.20
108.5 113 4.5 0.44
DCH-071 574298 8266697 225 -55 223.1 99.5 155 55.5 0.72
incL 126.5 149 22.5 1.15
DCH-072 574495 8266776 225 -60 522.9 147.5 151.5 4 0.58
433 483.8 50.8 0.34
incl 452.5 483.8 31.3 0.42
DCH-073 574204 8266605 225 -60 457.2 No Significant Results
DCH-074 574365 8266636 225 -50 237.2 22 86.5 64.5 0.60
Incl 37 49 12 1.05
Incl 62.5 65.5 3 1.43
97 112 15 0.30
133 160 27 0.46

 

Table 1. Drilling Results

 

Core has been logged and sampled at the Company’s facilities in the town of Chala, 15 km from the project. Industry standard chain of custody and QA/QC practices are followed with samples sent to Lima where they are analyzed by ICP-MS ALS at Chemex’s facility.

 

About Camino Minerals Corporation

 

Camino is a discovery and development 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 silver and copper Plata Dorada 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.

 

Kenneth C. McNaughton, M.A.Sc., P.Eng.,a Qualified Person as defined by NI 43-101, has reviewed and approved the technical contents of this document.

 

Posted January 19, 2021

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