VANCOUVER, BC / ACCESSWIRE / July 6, 2021 / Camino Corp. (TSXV:COR) (OTC PINK:CAMZF) (WKN:A116E1) ('Camino' or the 'Company') is pleased to announce the commencement of a geophysics campaign at its Los Chapitos copper project consisting of 258 line km of Magnetic Vector Inversion Modelling ('Magnetic Survey' or the 'Survey'). The Survey is targeting locations of previously reported sampling of artisanal workings (see news release April 13, 2021) that returned up to 5.12% copper (Cu) and 9.33 g/t gold (Au), with the vein samples measuring 0.3 to 0.6 metres (m). This area, known as Lidia, is a large 3 km by 4 km area that is geochemically anomalous for high-grade copper and gold, with 238 samples taken in 2018/19 averaging 0.78 % Cu, and up to 23% Cu and 11 g/t Au. The Survey is wide ranging and will also cover the large alterations zones at the Lourdes and Condori areas, with extensions to the Lagunillas fault and Diva West. The Magnetic Survey will help Camino identify subsurface structure and, potentially, the continuity and dissemination of copper and gold mineralization at depth.
'Our geophysics campaign is aimed at extending mineralization 4 to 5 km to the north of previously drilled areas. We will be surveying zones of high-grade copper and gold sampled in artisanal workings, and also areas with massive alteration zones. The massive alteration zones are co-incident with oxidized copper outcrops, so could provide the fluid mechanism for significantly more disseminated copper mineralization,' said Jay Chmelauskas, Camino's CEO. 'The Magnetic Survey and results will be completed in July to guide the drilling campaign at Los Chapitos that will start in August.'
Camino's Chief Geologist Jose Bassan said, 'our geological modelling includes lithology and alteration zonation and cross cutting features that is focused on developing a predictive discovery model to apply across our extensive Los Chapitos copper property. The geophysical study covers new areas of copper mineralization, beyond our current drilling, and complements the geological models being developed by Camino's geological team.'
Figure 1. Long Section of Diva Trend with Historic Magnetic Anomalies
The work carried out by Arce Geophysics in 2016-2018 in the Adriana zone showed a spatial correlation between the high magnetic anomalies and the mineralized intercepts of the Adriana and Carlota bodies. The magnetometric anomalies show the lineament of the Diva trend copper oxide mineralization and its relationship with some of the intrusive dioritic and monzonitic lithologies. Anomalies are shown next to previous successful drilling at Adriana with copper mineralization up to 300 m depth (see news release January 19, 2021) and towards the south at Maria and Pilar.
Figure 2. Proposed Geophysical Survey Extension July 2021
The hatched area shown in Figure 2 is the location of the Magnetic Survey underway that covers the Lourdes-Condori-Lidia areas and other areas. The ground magnetometry will trend SW-NE profiles with 100 metre line spacing that will include 69 profiles with a total of 257.8 line km. The method used will be Magnetization Vector Inversion (MVI) modelling that has previously shown good correlation with magnetic bodies to reveal structures and responses of magnetic changes at depth. The lines will have a 100 metre overlap with the previous magnetometry surveys conducted in 2016-2018. The data will be levelled and re-modelled to unify results from all surveys in this trend from 2016-2018 with the new results from 2021. Magnetization Vector Inversion (MVI) is a 3D inversion technique that inverts for both amplitude and direction of the magnetization and produces more geologically reasonable results in areas with complex magnetic features.
About Arce Geofisicos
Arce Geofísicos started operations in 1960 and has conducted geophysical surveys and consulting studies in Perú, Colombia, Chile, Ecuador, Bolivia, Panamá, Guyana, México, Guatemala, El Salvador, Honduras, Nicaragua, Dominican Republic, Argentina, and Canada. The company has offices in Lima and Medellín. Arce Geofisicos has completed over 1,349 surveys with over 15,893 kilometres of ground magnetometer profiles, 944 kilometres of UAV magnetometry and 14,001 kilometres of induced polarization surveys.
About HSEC
HSEC holds international certifications ISO 9001, ISO 14001 and ISO 45001, offering clients the highest standards in survey quality, as well as environmental, and health and safety. Active members of the Ground Geophysics Survey Safety Association (GGSSA), participating in worldwide HSEC statistics and method standard development.
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. Camino is currently closing the acquisition of the Maria Cecilia copper porphyry. 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.
ON BEHALF OF THE BOARD | For further information, please contact: |
/S/ 'Jay Chmelauskas' | Camino Investor Relations |
President and CEO | |
Tel: (604) 608-4513 |
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.
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 potential for large bulk mining IOCG ore bodies at Lidia, the prospectivity of future exploration work on the Los Chapitos, Plata Dorada, and Maria Cecilia projects, or 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.
SOURCE: Camino Minerals Corp.
View source version on accesswire.com:
https://www.accesswire.com/654302/Camino-Geophysics-Survey-Targets-Known-High-grade-Copper-and-Gold-Mineralization-at-the-Northern-Extension-of-Los-Chapitos
