Camino Minerals Corporation: Rodeo Gold Project, Maijoma Claim Group Exploration Update
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/06/11 -- Camino Minerals Corporation (TSX VENTURE: COR) ('Camino' or the 'Company') is pleased to announce that it has completed 3,400 metres of diamond drilling in 15 holes at its 100% owned Rodeo Gold Project. The current drill program calls for approximately 6,500 metres of diamond drilling and will carry on into the fall. The Company expects to receive initial assay results within the next several weeks.
The Rodeo Gold Project, located 160 kilometres north of the city of Durango, in Durango State, Mexico, covers 13,099 hectares (51 sq. miles) and is accessed by paved highway. From 2004 to 2007, Canplats Resources Corp. ('Canplats') drilled a total of 3,449 metres in 25 holes at Rodeo. However, Canplats only tested 600 metres of the 5-kilometre long epithermal system, with only two holes exceeding a depth of 200 metres, before concentrating its activity on the Camino Rojo discovery. The reverse circulation drill program by Canplats in 2004 confirmed the presence of near-surface gold mineralization, hosted in quartz rich structures, over significant intervals: hole BR-06 returned 5.43 g/t Au and 13.27 g/t Ag over 30 metres.
Results from the limited drilling to date and from the Induced Polarization ('I.P.') survey carried out earlier this year (see news release dated March 7, 2011) indicate good potential for high-grade gold mineralization, with associated silver mineralization, in veins and breccias along strike and to depth. An updated drill plan will be available at Camino's web site: www.caminominerals.com.
MAIJOMA CLAIM GROUP
In addition to the drill program at Rodeo, a recently completed 34.2 line-kilometre I.P. survey at the Los Volcanes concession, part of Camino's 100% owned Maijoma claim group, located in Chihuahua State, has identified a number of anomalous resistivity/chargeability trends. Additional detailed mapping and sampling will be carried out shortly over the surveyed area. An updated image, showing some of the I.P. survey results, will be available at Camino's web site: www.caminominerals.com.
The Maijoma claim group, acquired by Canplats in 2007 through staking by Perry Durning and Bud Hillemeyer, is located 65 kilometres southeast of Ojinaga, in northeast Chihuahua State, and is over 83,900 hectares (324 sq. miles) in size. The Los Volcanes concession covers nearly 19,000 hectares (73 sq. miles). The target area consists of quartz-alunite alteration that is over 5 kilometres in length and is situated along the Maijoma fault. Camino's concessions cover 45 kilometres of the Maijoma fault, which can be observed for over 200 kilometres.
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.
(604) 629-8292
Camino Minerals Corporation-Investor Inquiries
Blaine Monaghan
V.P., Corporate Development
(604) 629-8294 or Toll-Free: (866) 338-0047
info@caminominerals.com
www.caminominerals.com