los chapitos

Camino identifies Copper and Gold System at Los Chapitos sampling 1.71% Cu, 1.3 g/t Au and 6.1% Cu, 0.48 g/t Au

 

Camino Corp. (TSXV: COR) (OTC: CAMZF) (WKN: A116E1) ("Camino" or the "Company") is pleased to announce new sampling, geological mapping, and geophysical interpretation on its Los Chapitos copper project located in Southern Peru's Arequipa Department. The successful 2020 drilling campaign returned significant copper intercepts (see January 19 News Release) from the central portion of the 10 km copper mineralized Diva Trend. Sampling and mapping in 2020 along the Diva Trend (Table 1, Figure 2, and Figure 3) have identified large zones of alteration associated with Iron Oxide Copper and Gold (IOCG) mineralization to the northwest.

 

Northwest - Potential Copper & Gold IOCG System

 

Four km north of the 2020 drilling program, a recent sample from artisanal mine workings that extend over 30 metres underground returned 1.71% copper (Cu), 1.3 g/t gold (Au), and 12.5% iron (Fe) (Table 1 and Figure 2). The fault breccia in this area has green oxidized copper and calc-sodic alteration indicative of the regional Chocolate Formation IOCG hosting lithology. Previous sampling, in the northwest from 238 rock samples at the Lidia Zone, has returned an average of 0.78% copper, and copper and gold samples up to 23% Cu and 11 g/t Au, including similar copper and gold anomalies along the parallel Atajo Trend (see Figure 3) within the Company's 220 km2 claims. The Company is expanding its Environmental Impact Assessment (EIA) coverage to obtain permits for planned drilling of these areas as part of its Stage 2 drilling campaign in 2021.

 

Southeast - Significant Magnetic Anomaly and Stage 1 Permitted Drilling

 

Stage 1 drilling at Los Chapitos is fully permitted and is planned to commence in May or June 2021. The Stage 1 drilling campaign will target the continuity of copper mineralization in the Adriana central portion of the Diva Trend where the Company is delineating the extent of copper mineralization as it works towards a maiden resource estimate. The Company also plans exploratory drilling in permitted areas towards the southeast to potentially expand mineralization, and extension drilling where copper has been previously intercepted in drillholes at the Katty zone located 1 km south of the 2020 drilling at Adriana. In this area towards the Lagunillas Fault, the Company will target recently discovered andesitic flow breccia with disseminated copper oxide mineralization.

 

The intersected copper mineralization in the central portion of the Diva Trend is coincident with a moderate-sized magnetic anomaly. A much larger magnetic anomaly to the southeast (Natty) is coincident with surface x-ray fluorescence (xrf) soil and rock chip copper showings that range in grades from 0.1% to 8.9% Cu. This larger magnetic anomaly demonstrates the potential scope and scale of discovery possible at Los Chapitos as part of Stage 1 drilling (Figure 1).

 

"At Los Chapitos, we plan to drill along our 10 km mineralized Diva Trend to target larger alteration zones and larger geophysical anomalies than have been previously drilled, that are coincident with surface copper mineralization. This is the right time in the copper market for a major discovery and we believe that the Los Chapitos IOCG system has this potential," said Jay Chmelauskas, President & CEO.

 

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/1384/75038_59f272fc944d9b34_001.jpg

Figure 1. Longitudinal section along Diva Trend showing magnetic anomaly coincident with, xrf soil and rock chip geochemical analysis

 

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/1384/75038_59f272fc944d9b34_001full.jpg

 

A summary of high-grade copper samples with associated gold and silver taken along the Diva Trend during the 2020 exploration and reconnaissance program is summarized in Table 1.

 
                                                                            
SAMPLEEASTINGNORTHINGLocation Relative to Adriana
Recent Drilling
Cu %Ag g/tAu g/t
X0727105727188267470NW - Lourdes Target1.72 16.00 0.008
X0727535712728267114NW - Lourdes Target1.80 1.07 0.007
X0727635719688267576NW - Lourdes Target0.20 0.10 0.043
X0728025704178268817NW - Condori Target0.87 0.26 0.045
X0728035704518268913NW - Condori Target6.12 0.41 0.481
X0728105706408268857NW - Condori Target1.71 0.38 1.300
PX0617685743478266545SE - Adriana-Carlotta-Katty2.17 33.80  
PX0617765744948266547SE - Adriana-Carlotta-Katty2.94 17.00 0.006
PX0617825750968266190SE - Adriana-Carlotta-Katty4.46 48.10 0.011
PX0617855751828266177SE - Adriana-Carlotta-Katty10.15 173.00 0.010
 

 

 

Table 1. 2020 Geological Mapping and Sampling of the mineralized Diva Trend at Los Chapitos

 

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/1384/75038_59f272fc944d9b34_002.jpg

Figure 2. 2020 Surface Sampling and Magnetic Anomalies along the copper mineralized Diva Trend

 

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/1384/75038_59f272fc944d9b34_002full.jpg

 

The geological mapping and sampling in 2020 identified classic IOCG metal and mineral assemblages at the Los Chapitos project. Drilling in the central part of the Diva Trend has intercepted copper with trace quantities of silver, however, recent sampling returned 10.15 % Cu and 173 g/t Ag in this area. Drilling results have confirmed cobalt, another IOCG signature metal, in our system with a maximum grade of 154 g/t (Adriana) and 896 g/t (Katty) with good spatial continuity. In the northern part of the Diva Trend, we have mapped more IOCG signature rocks including specular hematite, mushketovite, magnetite, various breccias, argillic and calcic sodic alteration with local potassic alteration (Figure 3). The gold that we have sampled may indicate that we are higher in the IOCG system at the northwest of the Diva Trend and could potentially add additional economic gold credits with successful drill results.

 

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/1384/75038_59f272fc944d9b34_003.jpg

Figure 3. IOCG Alteration Zones and Gold Geochemical Results at Los Chapitos

 

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/1384/75038_59f272fc944d9b34_003full.jpg

 

To advance our understanding of lithological controls Camino's geology team is currently working on defining the mineral zones by analyzing sequential copper from the 2020 drilling campaign and from previous drill holes.

 

Camino continues to follow COVID-19 protocols established by the Peruvian government, has continued field work and desk studies through 2020, and plans to complete several drilling campaigns in 2021.

 

About Camino Minerals Corporation

 

Camino is a discovery and development stage copper exploration company. The Company is focused on advancing its high-grade Los Chapitos copper project located in Peru, towards potential resource delineation and new discoveries. In addition, the company has commenced field studies at its copper and silver Plata Dorada project. The Company seeks to acquire a portfolio of advanced copper assets that have the potential to deliver copper into an electrifying copper intensive global economy. For more information, please refer to Camino's website at www.caminocorp.com.

 

Kenneth C. McNaughton, M.A.Sc., P.Eng., a Qualified Person as defined by NI 43-101, has reviewed and approved the technical contents of this document.

 

ON BEHALF OF THE BOARD
/S/ "Jay Chmelauskas"
President and CEO

 

For further information, please contact:
Camino Investor Relations
info@caminominerals.com
Tel: (604) 608-4513

 

Cautionary Note Regarding Forward Looking Statements: Certain disclosures in this release constitute forward-looking information. In making the forward-looking disclosures in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company. Forward-looking information in the release includes the prospectivity of the project for future exploration, defining new mantos and extensions of the IOCG system and drilling planned on the Los Chapitos copper project and that actual results of exploration and engineering activities are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release is subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information. Such risk factors include, among others, that actual results of the Company's exploration activities will be different than those expected by management, that the Company will be unable to obtain or will experience delays in obtaining any required approvals and the state of equity and commodity markets. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

 

Neither 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.

 

 

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/75038

 

 

News Provided by Newsfile via QuoteMedia

The Conversation (0)
Lobo Tiggre, copper bars.

Lobo Tiggre: Copper's Trump Tariffs — Plus Gold Price, Uranium Opportunity

Lobo Tiggre, CEO of IndependentSpeculator.com, discusses the recent news that the US plans to put a 50 percent tariff on copper imports.

He also weighs in on gold, silver and platinum price drivers, as well as uranium stocks.

Keep reading...Show less
Metal pipes and bars obstructed by yellow "tariffs" tape with US flags.

Copper Soars to All-time High as Trump Unveils 50 Percent Tariff on Imports

US President Donald Trump said Tuesday (July 8) that he plans to impose a 50 percent tariff on all copper imports, a dramatic escalation of his administration’s use of targeted trade restrictions on national security grounds.

“I believe the tariff on copper, we're going to make 50 percent,” Trump said during a White House cabinet meeting.

Though he did not provide a timeline, Commerce Secretary Howard Lutnick said in a subsequent CNBC interview that the tariff could take effect by late July or as early as August 1, with details to be posted on Trump’s Truth Social account.

Keep reading...Show less
Empire Metals

Empire Metals Limited Announces Completion of MRE Drilling Campaign

Completion of Major Drilling Campaign Targeting Maiden Mineral Resource Estimate

Empire Metals Limited, the AIM-quoted and OTCQB-traded exploration and development company, is pleased to announce the successful completion of its largest drilling campaign to date at the Pitfield Project in Western Australia ('Pitfield' or the 'Project'). This programme focussed on high-grade titanium mineralisation within the in-situ weathered cap at the Thomas Prospect and is designed to underpin the Company's maiden JORC compliant Mineral Resource Estimate ('MRE').

Highlights

Keep reading...Show less
Loyal Metals Limited

Loyal to Acquire the High-Grade Highway Reward Copper Gold Mine

Loyal Metals Limited (ASX:LLM) (Loyal, LLM, or the Company) is pleased to announce that it has acquired a binding option to purchase the Highway Reward Copper Gold Mine in Queensland, Australia, one of the highest-grade copper mines worldwide, with past production totalling 3.65 million tonnes at 5.7% Cu and 260,000 tonnes at 4.5 g/t Au 1-9. This acquisition is the first step in Loyal’s 2025 Strategic Plan to broaden its critical minerals portfolio into copper. No exploration has been conducted on the mining leases since mining ceased in July 2005, despite a ~680% increase in copper prices and a ~1,256% increase in gold prices since the 1997 feasibility study 3,4. With over $4.4 million in funding, Loyal is well-positioned to revisit the high-grade Highway Reward Copper Gold Mine by deploying modern exploration techniques11.

Keep reading...Show less
Textured copper ribbons weave over a black background.

​Copper​ Market Hit by Major Supply Squeeze as LME Inventories Drop

One of the sharpest copper supply crunches in recent memory is rattling global commodities markets, as inventories at the London Metal Exchange (LME) plummet and the spot price soars.

Bloomberg reported that as of Monday (June 23), copper for immediate delivery was trading at a premium of US$345 per metric ton over three month futures, the widest spread since a record squeeze in 2021.

That dramatic price divergence reflects the market’s acute concerns over access to physical copper, with readily available inventories on the LME falling by around 80 percent this year alone.

Keep reading...Show less

Latest Press Releases

Related News

×