The Prospector News

Camino Minerals Sells Wholly Owned Rojo Resources and Provides Red Beds Project Update

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Camino Minerals Sells Wholly Owned Rojo Resources and Provides Red Beds Project Update

 

 

 

 

 

Camino Minerals Corporation (COR:TSX-V) is pleased to report that it has sold Rojo Resources, a wholly owned Mexican subsidiary, to a private Mexican mining syndicate. Rojo Resources was incorporated to hold title to the exploration projects transferred as part of the Canplats transaction in 2010. The Company will receive total consideration of MXP 5,949,135 in monthly installments through December 22, 2015. In a separate transaction completed on May 19, 2015, the Company received proceeds of MXP 1,472,889 for the sale of certain assets to a private Mexican company. At current exchange rates, these two transactions have a combined value of approximately CDN$592,000.

 

 

The Company is also pleased to report on the progress at its Red Beds Project, Department of Cuzco, Peru. Field crews completed the property evaluation and have identified twelve beds of high-grade copper-silver mineralization: five in the northern portion of the property; three in the center portion; and four in the southern portion. These beds have a cumulative strike extent in excess of 25 kilometers, range in width from 0.3 to 3.0 meters, and generally range in grade from 0.5% to 5% copper, with 10 to 50 ppm silver. Local values range up to +10% copper and +100 ppm silver, with one high grade lens returning a value of 28% copper and 741 ppm silver.

 

 

Plans are underway to begin a Phase 1 drill program at Red Beds in Q3, 2015. An updated plan showing the location of the high grade beds and surface sampling is available on the Company’s website.

 

 

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.

 

Posted June 29, 2015

Share this news article

MORE or "UNCATEGORIZED"


Orano Canada Inc. Enters into $6 Million Option on Forum's Fir Island Uranium Project, Saskatchewan

Forum Energy Metals Corp. (TSX-V: FMC) is pleased to announce tha... READ MORE

November 12, 2019

Gold Target Identified on the Carlin Vanadium Project by Prominent Nevada Geologist

First Vanadium Corp. (TSX-V: FVAN) (OTCQX: FVANF) (FSE: 1PY) anno... READ MORE

November 12, 2019

Maverix Metals Announces Record Revenue and Gold Equivalent Ounces for the Third Quarter 2019

Maverix Metals Inc. (NYSE American: MMX) (TSX: MMX) is pleased to... READ MORE

November 12, 2019

Sokoman Minerals Named Explorer of the Year by the Canadian Institute of Mining, Newfoundland and Labrador Branch

Sokoman Minerals Corp. (TSX-V:SIC) (OTCQB:SICNF) is excited to an... READ MORE

November 12, 2019

U.S. Gold Corp.'s 2019 Drilling Encounters Newly Discovered Gold System With 76.2m of 0.224 gpt Au, Including 25.91m of 0.408 gpt Au, at the Keystone Project, Cortez Trend, Nevada

U.S. Gold Corp. (NASDAQ: USAU), a gold exploration and developmen... READ MORE

November 12, 2019

Copyright 2019 The Prospector News - Site design by Spyderbaby Productions