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Camino Minerals (TSXV:COR) has signed its final agreement to option the Los Chapitos project in Peru from Minas Adinas SA. As quoted in the press release: The property has been expanded by the Company and now consists of 10 claims, totaling 5,000 hectares (12,300 acres), and is located 15 kilometers north of the coastal city …
Camino Minerals (TSXV:COR) has signed its final agreement to option the Los Chapitos project in Peru from Minas Adinas SA.
As quoted in the press release:
The property has been expanded by the Company and now consists of 10 claims, totaling 5,000 hectares (12,300 acres), and is located 15 kilometers north of the coastal city of Chala, Department of Arequipa, Peru.
Los Chapitos, is located in the Peruvian Iron Oxide Copper Gold belt (IOCG), and hosts two separate mineralized trends. On the western side of the property, small scale mining was active in the 1940’s and 50’s which produced high grade copper oxide mineralization from the Atajo Zone. These historical surface workings define a strike length of at least 400 meters. The Company completed two chip sample lines across the middle of the zone which returned a length weighted average of 2.10% copper and 9.4 gpt silver, over 38 meters, and 1.57% copper and 3.5 gpt silver across 64 meters. The Atajo Zone is open along strike and at depth.
Approximately six kilometers to the east are numerous zones which outcrop along a 2.5 kilometer trend, of which the Adriana and Katty zones were sampled extensively by the vendor. The Adriana Zone is exposed over an area measuring 75 meters by 150 meters, with historical sampling averaging 1.40% copper and 16 gpt silver. The Company completed a chip sample line over the middle of the zone which returned a length weighted average grade of 1.42% copper and 28.7 gpt silver across 58 meters. The Katty Zone lies along trend about 1 kilometer to the southeast, measures 50 meters by 125 meters, and has historical sampling which averaged 2.10% copper and 16 gpt silver. Spot chip sampling by the Company supports the historical values. Both the Adriana and Katty Zones are open in all directions and at depth.