Camino Minerals Signs LOI to Option Los Chapitos Project

Camino Minerals (TSXV:COR) has signed a letter of intent to option its Los Chapitos project to Minas Andinas SA.
As quoted in the press release:

The property consists of 7 claims, totaling 3,200 hectares (7,900 acres), and is located 15 kilometers north of the coastal city of Chala, Department of Arequipa.

At Los Chapitos, all of the known mineralization is associated with structurally controlled breccia zones with moderate to intense potassium alteration.  Small scale mining was active on the western side of the property in the 1940’s and 50’s which produced high grade copper oxide mineralization from the El Atajos Zone.  This zone ranges in width from 8 meters to 20 meters and grade from 0.8% to +2% copper oxides over a strike length of 400 meters.  Approximately six kilometers to the east are three additional zones which outcrop along a one kilometer trend and were previously sampled by the Vendor.  The Adriana Zone is exposed over an area measuring 75 meters by 150 meters, with historical sampling ranging from 0.3% to 2.6% copper as oxides.  The Katty Zone measures 50 meters by 125 meters, and has historical sampling ranging from 0.3% to 6.6% copper.  The Carlota Zone, which lies between the Adriana and Katty Zones, measures 100 meters by 150 meters, and contains lower grade mineralization grading up to 1% copper.

Los Chapitos is covered by rolling hills with elevations between 500 masl and 1250 masl.  It is crossed by numerous gravel roads and trails which connect back to the Pan American Highway near the cities of Challa and Tanaka. Regionally, the project is located along the major Treinta Libras structural lineament, which hosts the Mina Justa IOCG deposit, and Marcona Iron Oxide deposit 100 kilometers to the northwest.   Mina Justa is hosted by potassium altered, structurally controlled breccias and is reported to contain a resource of 374 million tonnes averaging 0.71% copper and 9.0 gpt silver.

Click here for the full press release.