Camino Granted Drill Permits to Target High-Grade, Near Surface Copper Mineralization at Los Chapitos, Peru
VANCOUVER, Feb 7, 2022 - Camino Corp. (TSXV:COR)(OTC PINK:CAMZF)(WKN:A116E1) ("Camino" or the "Company") is pleased to announce that it has received additional drilling permits at its Los Chapitos copper project near the coastal town of Chala, Peru ("Los Chapitos"). The approval was received from the General Directorate of Mining Environmental Affairs (DGAAM) of the Ministry of Energy and Mines (MEM) for the Declaration of Environmental Impact (DIA Lourdes) environmental instrument. The instrument allows for 33 drill holes distributed on 11 platforms, 9.6 km of access roads and two water storage ponds. Highlights
- Permits received for additional drilling at the Lourdes and Condori copper oxide zones.
- Lourdes manto grades up to 4.16% Cu and 26.9ppm Ag in channel samples.
- Condori breccia grades up to 3.94% Cu and 24ppm Ag in artisanal mining samples.
- Los Chapitos is a 220 sq. km project with multiple-permitted areas along the 8 km mineralized Diva Trend, other trends include Atajo and Lagunillas providing district-scale copper exploration potential.
- Field work consisting of additional mapping, topographic survey, and core logging has commenced in January 2022.
- Analysis of mineralization at the Adriana copper zone has advanced, combining the 3D lithological, alteration, and mineral zone models, to form the basis of a future resource estimate.
"The new permit at Los Chapitos opens up drilling targets at two new copper oxidized zones: the breccia zone at Condori and a copper manto zone at Lourdes. The manto mineralization has similar characteristics to the discovery drill hole that was made at the Adriana outcrop in 2017 (see news release dated April 18, 2017)", said Jay Chmelauskas, CEO of Camino. "We expect a similar drilling permit DIA approval at our new Maria Cecilia copper porphyry project in the coming weeks. This will provide the ability for Camino to prioritize drilling at the beginning of 2022 at two world-class copper exploration projects. We are preparing our Maria Cecilia porphyry project as our next drilling campaign at Camino. We have also been very active with our business development efforts towards our goal of creating a diversified copper producer and platform at Camino."
Camino's chief geologist Jose Bassan commented, "The mineralization at Chapitos is structurally controlled and we are finding more controlling structures with copper mineralization along the main Diva fault. The new permitted oxidized copper zones at Lourdes and Condori have the potential for bulk tonnage manto-style intercepts similar to previous drilling at Adriana."
Photo 1. Oxidized copper, abundant chrysocolla, malachite in breccia, Chocolate Formation in outcrop found in the Condori zone. The outcrop can be seen from Google Earth, Lat: -15.659223° / Long: -74.328591°.
Lourdes-Condori Oxide Targets
Geological mapping completed to date at Lourdes-Condori shows a lithological predominance of the volcaniclastic complex of the Chocolate Formation of andesitic tuffs, sedimentary, reddish-brown breccias, which are also dominant in the Adriana zone. Seventy percent of the outcropping rocks correspond to Chocolate Formation volcanics and the rest mainly to microdiorite intrusives. The brecciated outcrops of the Chocolate Formation in the Lourdes-Condori zone follow the NW-SE Diva Trend, outcropping discontinuously in areas ranging from 2 m2 to 1,000 m2. These outcrops show green copper oxides filling the breccia matrix as well as joints and faults visible at surface. The copper oxidized breccia matrix is common in Adriana at depth as seen in the photo 2. The structures are oriented NW and NE dipping mainly to the west from 55° to subvertical. The Lourdes-Condori zone extends over 1.5 km and begins to outcrop at Lourdes 1.4 km NW from the northern sector of the previously drilled Adriana copper zone.
Photo 2. Petrographic cut sample from hole DCH-001 at depth from 282.95 m to 283.05, grade up to 1.06% Total copper and 1.02% Soluble copper in the core interval 282 m to 283.5 m.
Figure 1. Lourdes and Condori 2022 drilling targets along an 8.0 km Diva Trend with green copper oxide mineralization, between Lidia and Adriana zones.
The Lourdes target is a continuous visible copper manto style mineralization over 120 m with azimuth N-S, dipping 25°E, and varying in width from 5 to 20 metres. The mineralization grades up to 4.16% Cu and 26.9 ppm Ag in channel sampling intervals of 1.3 to 2 metres. The manto mineralization in Lourdes is coincident with regional stratigraphy of the Chocolate Formation and very well defined in the Lourdes zone.
The Condori target is structurally controlled like a feeder type breccia filled by malachite, chrysocolla with rock sample grades up to 3.94% Cu and 24ppm Ag that was previously mined by artisanal miners. The mineralization extends over 300 metres covered by crumbled rocks following the Diva Trend NW-SE. The green copper oxide outcrops can be seen in Google Earth (click - Google Earth, Lat: -15.659223° / Long: -74.328591°).
The dominant surface alterations in the Lourdes-Condori zone are the same as those observed in the Adriana outcrops, described as potassic-silicic with sodic-calcic patches. In the Lourdes-Condori zone, towards the lower topographic parts, traces of fine chalcopyrite were visible in the microdiorite rock.
Figure 2. DIA permit area, showing mantos-style drilling targets in Lourdes, and breccia feeder-type in Condori.
Exploration Progress
After the completion of drilling at Lidia, Katty, and Natty in 2021, Camino rapidly advanced the relogging of 5,698 metres consisting of 16 drillholes in the Adriana zone. In addition, detailed 1:2000 scale geological mapping in the Lourdes-Condori zones is expected to be completed in January 2022 covering an area of approximately 100 ha. A structural study is currently underway of mineralized copper oxide structures to establish vectors for new drilling targets along the 8 km of the Diva Trend. Currently, there are 95 structures identified in the Adriana area with copper oxides preferentially N-SSE trending. Structures in the adjacent Carlotta zone are NE trending with all these structures dipping mainly to the west from 23° to subvertical.
Mineralization Analysis
In November 2021, the Company commenced relogging of previous drill holes to build the first 3D lithology and alteration model for the Adriana zone. The 3D model will form the basis for a future resource estimate following the best practices and standardized guidelines. The relogging process has included 38% of the Adriana zone consisting of 5,698.2 m and 16 drillholes. The lithological and alteration model will allow Camino to add greater certainty to the 3D mineral zones model that is based on sequential copper analysis. Relogging of drill holes and the creation of a lithology and alteration 3D model for the Adriana zone has enabled Camino to identify geological and structural similarities between Adriana and the Lourdes-Condori copper zones.
Figure 3. Permitted drilling areas within the Los Chapitos copper claims.
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 copper and silver Plata Dorada project. Camino has also recently acquired the Maria Cecilia copper porphyry 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.caminocorp.com.
Jose Bassan MAusIMM (CP) 227922, MSc. Geologist, a Qualified Person as defined by NI 43-101, has reviewed and approved the technical contents of this document. Mr. Bassan has reviewed and verified relevant data supporting the technical disclosure, including sampling and analytical test data.
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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 future exploration work on the Los Chapitos projects, completion of the necessary drilling permits at Maria Cecilia, that actual results of exploration and engineering activities are consistent with management's expectations, and the potential results of business development activities. 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.
SOURCE: Camino Minerals Corp.