RCS - Camino Minerals Corp - Camino Provides Exploration Summary in Peru

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28/10/2024 12:15

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RNS Number : 8349J  Camino Minerals Corporation  28 October 2024

 

Camino Provides Exploration Summary for the Maria Cecilia Copper Porphyry
Project in Peru

Vancouver, BC October 28, 2024 - Camino Minerals Corporation (TSXV: COR) (OTC:
CAMZF) ("Camino" or the "Company") is pleased to provide a summary of the
summer drilling and exploration campaign at its Maria Cecilia porphyry project
("Maria Cecilia" or the "Project") in Ancash, Peru.

The 2024 summer campaign included the construction of access roads and the
drilling of one diamond drillhole (MC24-001) at Porphyry 1. Geochemical assays
indicate low grades of copper, molybdenum, silver, and gold intercepts over
significant intervals, including 234 meters of continuous low-grade copper,
gold, silver, and molybdenum mineralization. In addition, mineral zoning,
multiple altered intrusions, areas of widespread multi-vein stock work,
pervasive potassic alteration, as well the potential for copper mineralization
in surrounding reactive sedimentary host rocks were observed. The drilling
campaign was successful at identifying zonation in the porphyry stock for
further follow-up drilling.

Over 30,000 meters of drilling, as well as a NI43-101 compliant resource, have
been completed at the adjacent mountains, Toropunto, and Emmanuel.  The
entire porphyry complex within Camino's claims spans over 5 kilometers, and
the current drilling target, Maria Cecilia, is at the centre of the complex.

Highlights:

·    Continuity of mineralization at depth in drillhole MC24-001 with
grades up to 0.16% copper, 0.053ppm gold, 5.1ppm silver, and 819ppm
molybdenum. A continuous drilling intercept over the first 234 m graded 0.08%
Cu, 0.007ppm Au, 0.51ppm Ag, 57ppm Mo.

·    Drilling confirms mineral zonation of a porphyry system at Maria
Cecilia located at the centre of a 5 km mineralized system spanning from
Camino's Toropunto copper-molybdenum-gold high-sulphidation epithermal
resources to Camino's Emmanuel porphyry copper-molybdenum resources.

"During the summer of 2024, Camino focused its efforts on acquiring the
Puquios copper production asset in Chile and advancing its joint venture
exploration activities at Los Chapitos in Peru with Nittetsu Mining," said Jay
Chmelauskas, CEO of Camino.  "At the same time, we drill tested Maria Cecilia
and evaluated exploration priorities. Maria Cecilia is proving to be a very
large porphyry system that is worthy of follow-up drilling when the copper
market conditions improve or after we advance our production and exploration
assets at Puquios and Los Chapitos. While we intercepted 234 metres of
continuous copper mineralization, the grades at Maria Cecilia still do not
explain the metal content in the ground, either pyrite or chalcopyrite,
generating a significant geophysical anomaly."

Camino Geological consultant Jose Bassan stated: "Three styles of
mineralization are recognized at Maria Cecilia: Polymetallic (Zn-Pb-Cu-Ag)
skarn mineralization, hydrothermal high-sulphidation (Cu-Au) epithermal
deposit related to porphyry systems, and finally, a copper and gold porphyry,
like we see at Maria Cecilia and the adjacent Emmanuel resource. The hornfels
package that exhibits better copper and gold grades than the other
porphyry-sills implies that the main source of copper mineralization has not
yet been reached."

The package of sedimentary rocks of Goyllarisquizga group and hornfels
sequence has N335 azimuth and subvertical dips, observed with geological
mapping at 1:1,000.

At Maria Cecilia 99% of the area is covered by colluvium, new road access has
provided new exposures.  A total of 95 chip samples were taken at the road
openings for over 2.5 km towards the new drill pads. All samples were
anomalous in copper, mainly in copper oxides (tenorite) in fractures and
veinlets, with 35 of these samples greater than 0.1% Cu with grades up to
0.32% Cu. There were also 11 samples greater than 0.01ppm gold with grades up
to 0.061ppm.  There were 7 samples greater than 100ppm molybdenum and graded
up to 222ppm (Figure 3).

The first exploration hole in Maria Cecilia MC24-001 is located in an outcrop
zone of copper oxides with grades up to 0.7% Cu.  The drillhole was oriented
towards the NW edge of the geophysical magnetic anomaly, Porphyry 1, reaching
a total depth of 696 meters, including anomalous copper continuity over 234 m
from surface with grades of 0.08% Cu mainly in veinlets with chalcopyrite and
disseminated after the first 40m of drilling.  Drilling at surface initially
intercepted black copper oxides (tenorite) (Figure 1).

Figure 1. Long section of the Maria Cecilia porphyry - skarn system.

Drill hole MC24-001 exhibited potassic alteration characterized by secondary
biotite and minor secondary feldspar. The identified sulphides consist of
finely-grained pyrite and chalcopyrite, present in micro-veins and as random
disseminations. Quartz veinlets primarily contain molybdenite, and the
porphyries encountered in the drill hole follow the stratification. The
geological logging of drill hole MC24-001 highlights the significance of the
hornfels host rock within the mineralized system of the Maria Cecilia project.
The hornfels demonstrates higher copper and molybdenum grades compared to
other rock types, accompanied by strong potassic alteration and a stockwork of
early veinlet types, including EB (biotite-quartz), A (quartz with K-spar),
and B veinlets (quartz-sulphides). Disseminated pyrite and chalcopyrite
sulphides, along with quartz-molybdenite veinlets, are observed in contact
with the Plg-Hb porphyry (hornblende porphyry).

At greater depths, porphyry sills ranging from 1 to 32 meters thick influence
the alteration and veinlet patterns within the host rock. However, the copper
and molybdenum grades remain higher within the hornfels package, suggesting
that the primary source of copper mineralization has not yet been reached.

Figure 2. Geology and average grades Cu, Au, Ag, Mo descriptions from core
pictures MC24-001, ppm grades. (The average Cu, Au, Ag, Mo grades of the
porphyry are not included in the hornfels analysis).

 HOLEID                 East(m)  North(m)  Elevation(m)  Azimuth  Dip     Total Depth  Start Date  End date
 MC24-001 (Porphyry 1)  179151   8982554   4220          180      -75     695.85       2-Jun-24    26-Jun-24
 Porphyry 2             Open roads, Geology mapping, Chip samples
 Porphyry 3

Table 1. Summary of Drillholes location, Maria Cecilia Porphyry Copper
Project, Peru

Figure 3. Plan view with copper surface rock chip samples, geophysical
magnetic anomaly, and 2024 drilling at Maria Cecilia.

 

Final coordinates (East-North-Elevation, metric) taken at the end of the
drillhole using GPS model (GPS MAP 64) and measurement of the drillhole
trajectory with DeviGyro #4693 tool every 20m according to protocol.

Core has been logged and sampled for drillhole MC24-001 at the Company's
facilities in the town of Caraz, 20 km from the Project. Industry standard
chain of custody and QA/QC practices are followed with samples sent to Lima
where they are analyzed by ICP-MS at ALS Chemex Labs' facility.  The Camino
geological team complied with the written internal QA/QC procedures, where the
insertion of blank samples, certified international standards (pulps) and
duplicates met the objectives and acceptable results.

 

 

About Camino

Camino is a discovery and development stage copper exploration company. On
October 7, 2024, Camino signed a Definitive Agreement to purchase the
construction-ready Puquios copper mine in Chile.  Camino is focused on
developing copper producing assets such as Puquios, and advancing its IOCG Los
Chapitos copper project located in Peru through to resource delineation and
development, and to add new discoveries. Camino has also permitted the Maria
Cecilia copper porphyry project for exploration discovery drilling to add to
its NI43-101 resources. In addition, Camino has increased its land position at
its copper and silver Plata Dorada project. Camino 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.

Jose A. Bassan, FAusIMM (CP) 227922, MSc. Geologist, an independent geologist
and a qualified person as defined by National Instrument 43-101 - Standards
of Disclosure for Mineral Projects, has reviewed and approved the technical
contents of this document.  Mr. Bassan has reviewed and verified relevant
data supporting the technical disclosure.

 ON BEHALF OF THE BOARD  For further information, please contact:
 /S/ "Jay Chmelauskas"   Camino Investor Relations
 President and CEO       info@caminocorp.com
                         Tel: (604) 493-2058

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
prospectivity of future exploration work at Maria Cecilia, future planned
drilling programs, prospectivity for copper exploration in new targets
Porphyry 1, 2, 3;  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 may be different than
those expected by management, that the Company may not realize the benefits of
joint ventures and/or strategic partnerships with respect to the Company's
properties, that the Company may be unable to obtain or may experience delays
in obtaining any required authorizations and 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.

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