Camino Identifies Additional Mineralized Copper and Silver Veins at Plata Dorada with Channel Samples Grading up to 5.76% Cu and 1,500 g/t Ag; Increases Mineral Claims at Plata Dorada to 3,800 Ha
Vancouver, British Columbia--(Newsfile Corp. - February 3, 2021) - Camino Corp. (TSXV: COR) (OTC: CAMZF) (WKN: A116E1) ("Camino" or the "Company") is pleased to announce new exploration results from its 100% owned Plata Dorada Copper and Silver project ("Plata Dorada" of "the project") in Peru. The Company completed an exploration program in the Fall of 2020 at Plata Dorada and has identified up to 10 mineralized copper and silver veins with channel sample grades up to 5.76% copper (Cu) and 1,500 g/t silver (Ag). The channel samples range in width from 0.2 to 1.4 m across the vein and are located over a distance of 4 km. Individual veins have been mapped with strike lengths up to 380 m, before disappearing under shallow cover. A summary of the significant veins identified, and channel sample results is shown in Figure 1. and summarized in Table 1.
The Company recently increased its land position in the area by 1,700 hectares (ha) for a total claim area of 3,800 ha.
Photo 1. Chalcopyrite Copper and Silver Sulphide Mineralization at Plata Dorada
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"At Plata Dorada, we have a system of high-grade copper and silver veins spaced over a distance of 4 km. We have just begun to explore at Plata Dorada. Our exploration efforts will focus on identifying additional high-grade vein structures, and determining mineable widths and continuity at depth," said Camino CEO, Jay Chmelauskas. "We've increased our claims around Plata Dorada in a region that has a rich history of colonial mining, new metal mines, and discoveries."
Figure 1: Best Results of the Geochemical Sampling Campaign in 2020
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Plata Dorada is located 158 kilometers east of the city of Cusco. The project can be accessed by a 2.5 hour drive along a paved highway from Cusco. There are 18th century records of colonial mining activities at several locations within 50 kilometers of Plata Dorada. Numerous pits and shallow underground workings exist on the property as a result of recent artisanal mining activities.
Photo 2. Historical Workings at Plata Dorada
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The Plata Dorada project is located in the metallogenic belt described by INGEMMET as Belt III: Cu-Mo- Zn Porphyry-Skarns Belt, Au-Cu-Pb-Zn and U-Ni-Co-Cu deposits, related to Permian-Triassic intrusives (Carlotto et al. 2009); this belt is located along the Eastern Cordillera and part of the Sub-Andean Zone of the Peruvian territory. One of the most characteristic projects of this metallogenic belt is Ollachea of Minera Kuri Kullu, a subsidiary of Minera IRL.
The Ollachea project is considered an orogenic gold deposit with an indicated mineral resource of 1.4 Moz Au according to its 2012 NI43-101 report; this project is located about 60 kilometers SE of the Plata Dorada project.
Exploration work at Plata Dorada in the Fall of 2020 consisted of several field visits to identify new vein structures, with over channel 70 samples tested for metal content by Camino. The results of this program were integrated with results and data from a channel sampling program undertaken prior to 2016 by Minquest Peru, a wholly-owned subsidiary of Camino. The Company now plans to continue to develop a 1:2000 geological map and model of the vetiform structures to define exploration drill targets.
Figure 1. and Table 1. show samples collected by Camino Corp. in 2020 and historic samples with grades of copper >= 1% and silver >=15g/t. The veins dip North-West and North-North-East between 45° to 82° and have individual strike lengths in excess of 100 m before disappearing under shallow cover.
| Sample No. | East | North | Elev. | Area Prospect | Channel Width (m) | AZ | Dip | Silver (Ag) g/t | Copper (Cu) % | Sampling Info. |
|---|---|---|---|---|---|---|---|---|---|---|
| 2 | 278040 | 8495365 | 3,954 | DORADA SUR | 0.2 | 330 | 75NE | 18 | 2.78 | New vein |
| 56 | 280001 | 8495809 | 4,291 | HITHZA II | 0.6 | 58 | 2.78 | New vein | ||
| Hist MARC027 _ | 280446 | 8496546 | HITHZA II | - | 20 | 1,500 | 3.13 | Historic | ||
| Hist MARC024 _ | 280455 | 8496526 | HITHZA II | - | 20 | 433 | 1.32 | Historic | ||
| Hist MARC028 _ | 280479 | 8496585 | HITHZA II | - | 20 | 1,500 | 8.57 | Historic | ||
| Hist MARC025 _ | 280479 | 8496555 | HITHZA II | - | 20 | 400 | 1.85 | Historic | ||
| Hist MARC029 _ | 280488 | 8496578 | HITHZA II | 0.3 | 20 | 323 | 1.95 | Historic | ||
| Hist MARC013 _ | 280503 | 8496657 | HITHZA IV | 0.5 | 20 | 222 | 2.45 | Historic | ||
| Hist MARC012 _ | 280504 | 8496661 | HITHZA IV | 0.7 | 20 | 1,030 | 2.47 | Historic | ||
| Hist MARC021 _ | 280505 | 8496598 | HITHZA II | 0.5 | 20 | 586 | 1.86 | Historic | ||
| Hist MARC016 _ | 280513 | 8496616 | HITHZA II | 1.5 | 20 | 1,430 | 1.45 | Historic | ||
| Hist MARC030 _ | 280647 | 8495706 | HITHZA II | 0.6 | 140 | 56 | 6.93 | Historic | ||
| Hist MARC031 _ | 280668 | 8495699 | HITHZA II | 0.6 | 140 | 42 | 5.97 | Historic | ||
| Hist MARC032 _ | 280684 | 8495685 | HITHZA II | 1.0 | 140 | 27 | 2.36 | Historic | ||
| Hist MARC033 _ | 280690 | 8495661 | HITHZA II | 0.5 | 140 | 117 | 3.51 | Historic | ||
| 53 | 280697 | 8495678 | 4,412 | HITHZA II | 0.8 | 345 | 68NE | 39 | 1.51 | New Sample |
| Hist MARC034 _ | 280715 | 8495654 | HITHZA II | 1.0 | 140 | 19 | 0.99 | Historic | ||
| Hist MARC035 _ | 280732 | 8495618 | HITHZA II | 0.5 | 140 | 93 | 2.72 | Historic | ||
| 28 | 281289 | 8496214 | 4,375 | HITHZA II | 0.5 | 38 | 3.38 | New vein | ||
| 30 | 281683 | 8496325 | 4,246 | TALI | 1.4 | 10 | 45E | 36 | 1.49 | New vein |
| 11 | 281950 | 8496998 | 4,010 | TALI 1 | 0.3 | 190 | 60SE | 1,500 | 5.76 | New vein |
| Hist MARC007 _ | 282270 | 8496653 | TALI 1 | 0.4 | 140 | 31 | 1.54 | Historic | ||
| Hist MARC005 _ | 282280 | 8496665 | TALI 1 | 0.5 | 140 | 17 | 1.01 | Historic | ||
| 32 | 282309 | 8496630 | 4,023 | TALI 1 | 1.0 | 0 | 75SE | 15 | 1.42 | New Sample |
| 31 | 282314 | 8496569 | 4,047 | TALI | 0.5 | 20 | 70W | 21 | 1.25 | New Sample |
Table 1. Channel Sample Results in 2020 and Historic Sampling at Plata Dorada
The 2020 channel samples were collected and analyzed by ICP-61, with digestion by four acids for 33 elements and fire assay for Au.
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. For more information, please refer to Camino's website at www.caminominerals.com.
Kenneth C. McNaughton, M.A.Sc., P.Eng., a Qualified Person as defined by NI 43-101, is a Director of the Company and has reviewed and approved the technical contents of this document.
ON BEHALF OF THE BOARD
/S/ "Jay Chmelauskas"
President and CEO
For further information, please contact:
Camino Investor Relations [email protected]
Tel: (604) 608-4513
Cautionary Note Regarding Forward Looking Statements: Certain disclosures in this release constitute forward-looking information. In making the forward-looking disclosures in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company. Forward- looking information in the release includes the prospectivity of Plata Dorada and Los Chapitos for future exploration, and drilling planned at Plata Dorada or the Los Chapitos copper project and that actual results of exploration and engineering activities are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release is subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information.
Such risk factors include, among others, that actual results of the Company's exploration activities will be different than those expected by management, that the Company will be unable to obtain or will experience delays in obtaining any required approvals and the state of equity and commodity markets. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Neither 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/73524