VANCOUVER, April 25, 2017 /CNW/ - Camino Minerals Corporation ("Camino" or the "Company") (COR: TSX-V) is pleased to report results for the remaining three RC drill holes completed at its Los Chapitos Project ("Chapitos"), located in southern Peru. All three holes extended the oxide mineralization along strike or at depth. Hole CHR-004, intersected the same magnetite rich zone as in hole CHR-002; however, reached the maximum depth limits of the drill while still in the magnetite rich zone and did not test the projected horizon of the host rocks for the sulphide mineralization in hole CHR-002.
Selected drill highlights from the outstanding three RC drill holes at the Adriana Zone include:
- Hole CHR-003 intersected 0.64% copper over 32 meters, including 1.50% copper over 10 meters; and
- Hole CHR-005 intersected 0.86% copper over 44 meters, including 1.85% copper over 16 meters.
Holes CHR-003 and CHR-005 were successful in testing for extensions of the surface oxide mineralization intersected in hole CHR-001. A second intersection in CHR-005, between 140 and 184 meters, was dominantly sulphide mineralization, and correlates with a low grade oxide zone in hole CHR-001.
Hole CHR-004 was an 80 meter step out to hole CHR-002 and successfully intersected the southern extension of the oxide mineralization starting at 90 meters down the hole. The hole intersected the magnetite rich zone starting at 260 meters; however, the maximum depth limit of the drill was reached at 360 meters while still in the magnetite rich zone. The current geological interpretation indicates that hole CHR-004 ended above the host rocks of the sulphide mineralization. The high grade mineralization in hole CHR-002, was intersected below the magnetite rich zone.
All of the RC drill holes experienced significant deviations with drill cutting returns averaging 70% over the full length of the holes. As a result, the decision was made to contract a diamond drill to complete the Phase 1 program, which is scheduled to begin in early May. Additional diamond drilling will be planned to test for extensions of the Adriana mineralization and to complete the initial test of the high grade Katty Zone, located one kilometer southeast of Adriana.
A summary presentation, including drill plans and sections, can be found on the company website at www.caminominerals.com.
Table 1: Selected Reverse Circulation Drill Results, (1,2)
| HoleNo. | Dip/ Azimuth |
From (meters) |
To (meters) |
Interval (meters) |
Total Copper (%) |
Acid Soluble Copper(g/t) |
Comments |
| Adriana Zone | |||||||
| CHR-003 | -50/45 | 58 | 90 | 32 | 0.64 | 0.50 | |
| Incl. | 76 | 86 | 10 | 1.50 | 1.26 | ||
| 114 | 124 | 10 | 0.61 | 0.45 | |||
| 160 | 194 | 34 | 0.16 | 0.10 | Ave. Silver = 10.40 gpt | ||
| CHR-004 | -50/135 | 90 | 114 | 24 | 0.36 | 0.13 | |
| CHR-005 | -68/90 | 28 | 68 | 40 | 0.45 | 0.33 | |
| Incl. | 40 | 56 | 16 | 0.66 | 0.54 | ||
| 140 | 184 | 44 | 0.86 | 0.19 | Sulphides | ||
| Incl. | 140 | 156 | 16 | 1.85 | 0.37 | Ave. Silver = 9.75 gpt | |
(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 fire assay with AA finish for gold. Samples over 1% copper were reanalyzed using four acid digestion with an ore grade ICP finish. Mineralized samples were analyzed for acid soluble copper by being agitated at room temperature in a 5% sulphuric acid solution with the copper content measured by AA. 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. Reverse circulation cuttings were collected for each 2 meter interval, split in a standard 3 tier Jones splitter producing two 1/8 splits; one sent for assay, and one retained for possible future analysis.
Kenneth C. McNaughton, M.A.Sc., P.Eng., is the Qualified Person (QP) responsible for the Chapitos project.
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.
