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.
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