Camino Minerals Corporation: Induced Polarization Survey Underway at Rodeo Gold Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/25/11 -- Camino Minerals Corporation (TSX VENTURE: COR) ('Camino' or the 'Company') is pleased to announce that an induced polarization ('I.P.') survey, totaling 42 line-kilometres, is underway at the Rodeo gold project, located in Durango State, Mexico.
Rodeo hosts gold and silver mineralization related to a low sulfidation epithermal system that is controlled by major north-northwest and east-northeast trending fault systems. Reverse circulation drilling by Canplats Resources Corp. ('Canplats') in 2004 confirmed the presence of near-surface gold mineralization over significant intervals, hole BR-06 returned 5.5 g/t Au and 12.5 g/t Ag over 28 metres, including 35.6 g/t Au and 37.0 g/t Ag over 1 metre. Subsequent diamond drilling by Canplats in 2007 returned broad mineralized intervals, including 0.23 g/t Au and 8.68 g/t Ag over 103.1 metres (hole BRD-002).
Past drilling on the Rodeo property by Canplats totaled 3,449 meters in 25 holes over a strike length of 550 meters. The epithermal system hosting the Rodeo gold mineralization has been identified over more than 5 kilometers. Only two holes exceeded a depth of 200 metres. The limited drilling to date indicates good potential for high-grade gold mineralization in structurally controlled veins and breccias. The full extent of the Rodeo fault, and other major regional structures crossing the property, will be investigated by the IP survey and by further mapping and geochemical surveys. Camino plans to diamond drill targets at Rodeo in the second quarter of 2011.
Camino's 100% owned Rodeo gold project covers 13,099 hectares (51 square miles) and is located 150-kilometres north of the city of Durango. The property is accessed by paved highway.
Annual General and Special Meeting
Shareholders and interested parties are invited to attend Camino's Annual General and Special Meeting ('AGM') being held today at the Terminal City Club (Terrace Room B), located in Vancouver, at 2:00pm. Following the AGM, Richard Dufresne, Camino's V.P. Exploration, will provide an overview of Camino's projects and exploration plans for 2011.
About Camino Minerals Corporation
Camino is a new, well-funded mineral exploration company that was formed in connection with Goldcorp's C$300-million 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
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.
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:
Camino Minerals Corporation - Corporate Information
R.E. Gordon Davis
Chairman and C.E.O.
Direct: (604) 629-8292
Camino Minerals Corporation - Investor Inquiries
Blaine Monaghan
V.P., Corporate Development
Direct: (604) 629-8294 or Toll-Free: (866) 338-0047
info@caminominerals.com
www.caminominerals.com