Camino Minerals Corporation: El Rincon Samples Up to 4.03 Grams Per Tonne Gold
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/13/10 -- Camino Minerals Corporation (TSX VENTURE: COR) ('Camino' or the 'Company') is pleased to announce that samples grading up to 4.03 g/t Au have been returned from the El Rincon gold project, located in Durango State, Mexico.
The samples were collected at the western edge of El Rincon's property boundary, 3-km to the east of Argonaut Gold's El Castillo gold mine which hosts 752,000 ounces of proven and probable gold reserves (46,800,000 tonnes grading 0.50 g/t Au) and 1.18 million ounces of measured and indicated gold resources (94,300,000 tonnes grading 0.39 g/t Au)(1).
El Rincon is largely overlain by post mineral volcaniclastic rocks and ignimbrites. However, meta-sediments, intruded by dacitic dykes, are exposed at the western edge of El Rincon's property boundary in an area now known as the Ventana Zone. The mineralization sampled at Ventana is similar to that seen at the El Castillo. See Table 1 below for further results.
Table 1
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Sample Gold
No. (g/tonne) Type Description
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100266 0.245 Panel 1 x 1 metre Clay altered dacite with strong
hematite cut by Fe and Mn oxide
stockwork
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100267 2.15 Selected outcrop Jasperoid silica vein 15 cm strong
sample FeOx
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100268 0.656 Panel 0.5 x 0.5 Clay altered dacite with strong
metre hematite cut by Fe and Mn oxide
stockwork
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100269 4.03 Selected outcrop 5 cm quartz vein hosting moderate FeOx
sample
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100270 0.42 Panel 1 x 1 metre Clay altered dacite with strong
hematite cut by Fe and Mn oxide
stockwork
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100271 0.032 Panel 1 x 1 metre Clay altered dacite
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Ventana is located at the southern edge of a gold-in-soils geochemical anomaly. The anomaly begins at the western edge of the property boundary and is situated in the same northeast-trending structural corridor that hosts El Castillo. Updated maps, including the location of the Ventana Zone and the gold-in-soils geochemical anomaly, will be available at Camino's web site: www.caminominerals.com.
Exploration at El Rincon included detailed airborne magnetic and radiometric surveys, mapping at a scale 1:25,000 and a soil geochemical survey. Permitting for geophysical lines and drilling pads is currently underway. An induced polarization (IP) survey of approximately 30 line kilometers is planned at El Rincon and will be followed by a drill program.
El Rincon is located 120-kilometres northeast of the city of Durango, located in Durango State, Mexico, and is accessed by paved highway. The 12,946 hectare (50 square miles) property is situated along the same northeast-trending structural corridor as the El Castillo gold mine, located 3-kilometres to the west and currently in production for Argonaut Gold Inc., and Silver Standard's San Agustin deposit, located 30-kilometres to the southwest.
Camino has completed detailed airborne magnetic and radiometric surveys, totaling 8,885 line-kilometers, at the El Rincon Gold Project (Durango State), the Maijoma Claim Group (Chihuahua State), the Mecatona Gold Project (Chihuahua State) and the Rodeo Gold Project (Durango State). The Company has not received the final report but preliminary results show a number of prospective structures which require follow up. Exploration plans for Camino's other projects will be announced in the near future.
The technical information contained in this news release has been reviewed and approved by Richard Dufresne, P.Geo., Camino's V.P., Exploration, a 'Qualified Person' as defined under National Instrument 43-101.
(1) Argonaut Gold's website: www.argonautgoldinc.com
About Camino Minerals Corporation
Camino is a new, well-funded mineral exploration company that was formed in connection with Goldcorp's acquisition of Canplats. Camino is led by Canplats' former management and is focused on precious and base metal projects located in Mexico. For more information on Camino's properties and associated agreement terms, please refer to the Company's website at www.caminominerals.com.
To receive Camino's news releases, contact Blaine Monaghan, V.P., Corporate Development, at info@caminominerals.com or (866) 338-0047.
Cautionary Note Regarding Forward-Looking Statements
Statements contained in this news release that are not historical fact are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995 and forward-looking information under the provisions of Canadian securities laws (collectively, 'forward-looking statements'). Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties include, but are not limited to, the Company's ability to raise sufficient capital to fund exploration, changes in economic conditions or financial markets, changes in prices for the Company's mineral products or increases in input costs, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments in Mexico, technological and operational difficulties or inability to obtain permits encountered in connection with exploration and development activities, labour relations matters, and changing foreign exchange rates, all of which are described more fully in Camino's filings on SEDAR. The Company undertakes no obligation to publicly update or otherwise revise any forward-looking statements, whether as a result of new information, future events or other factors, except as required by law. Readers are cautioned not to place undue reliance on forward-looking statements.
Neither the 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.
Contacts:
Corporate Information:
Camino Minerals Corporation
R.E. Gordon Davis, Chairman and C.E.O.
(604) 629-8292
Investor Inquiries:
Camino Minerals Corporation
Blaine Monaghan, V.P., Corporate Development
(604) 629-8294 or Toll Free: 1-866-338-0047
info@caminominerals.com
www.caminominerals.com