Mr. Ken McNaughton reports
CAMINO INTERSECTS 106 METERS AVERAGING 1.30% COPPER AT LOS CHAPITOS PROJECT
Camino Minerals Corp. has released results for the first two drill holes completed at its Los Chapitos project, located in southern Peru. These first two holes have confirmed the downdip extension of the Adriana zone surface oxide mineralization, with one hole intersecting a zone of high-grade sulphide mineralization at depth. The Adriana zone is one of five known zones located along the northeastern trend of Chapitos.
Selected drill highlights from the first two drill holes at the Adriana zone include:
- Hole CHR-002 intersected 1.30 per cent copper over 106 metres (with the hole ending in mineralization), including 2.12 per cent copper over 38 m.
-
Hole CHR-001 intersected 0.47 per cent copper over 76 m, including 0.67 per cent copper over 22 m.
The initial drilling was completed using a reverse circulation drill and was focused on testing the downdip extension of the Adriana surface mineralization as well as testing magnetic and induced polarization geophysical targets at depth. Both holes were successful in intersecting the downdip extension of the surface mineralization, which comprised predominantly copper oxides. Hole CHR-002 passed through a magnetite-rich zone, below which it encountered a 106 m thick interval of high-grade copper sulphide mineralization composed mainly of bornite and chalcocite. The hole was stopped in mineralization, with the last two m sample assaying 0.86 per cent copper. The projection of this hole cut along the margin of a moderate IP chargeability anomaly that was defined as part of the geophysical surveys completed by Camino in 2016. Hole CHR-001 was stopped in the magnetite rich zone at 300 m due to excessive hole deviation.
A further three RC drill holes (CHR-003, 004 and 005) have been completed as part of the phase 1 program. Assays will be released for these holes when available. All of the RC drilling experienced significant hole deviations, with drill cutting returns averaging 70 per cent. As a result, the decision was made to contract a diamond drill to complete the rest of the phase 1 program, which is scheduled to begin work in early May. Additional diamond drilling will be planned to test for extensions of the Adriana surface oxide mineralization and deeper sulphide mineralization. Diamond drilling will also be used to test the downdip extension of the surface oxide mineralization at the Katty zone, located one kilometre southeast of Adriana.
A summary presentation, including drill plans and sections, can be found on the company's website.
SELECTED REVERSE CIRCULATION DRILL RESULTS (1,2)
Hole No. From (m) To (m) Interval (m) Total Cu (%) Acid soluble Cu (g/t) Comments
CHR-001 0 76 76 0.43 0.31
incl. 22 44 22 0.67 0.54
150 162 12 0.44 0.31
CHR-002 4 66 62 0.36 0.27
incl. 36 58 22 0.62 0.51
188 294 106 1.30 0.32 End of hole
incl. 230 268 38 2.12 0.23 Avg. silver 10.9 g/t
(1) True thickness to be determined.
(2) All samples were submitted for preparation and analysis by ALS Chemex at its facilities in Lima,
Peru. All samples were analyzed using multidigestion with ICP finish and fire assay with AA finish
for gold. Samples over 1 per cent copper were reanalyzed using four-acid digestion with an ore grade
ICP finish. Mineralized samples were analyzed for acid soluble copper by being agitated at room
temperature in a 5-per-cent-sulphuric-acid solution with the copper content measured by AA. One in 20
samples was blank, one in 20 was a standard sample and one in 20 samples had a sample cut from assay
rejects assayed as a field duplicate at ALS Chemex in Lima, Peru. Reverse circulation cuttings were
collected for each two m interval, split in a standard three-tier Jones splitter producing two
one-eighth splits, with one sent for assay and one retained for possible future analysis.
Kenneth C. McNaughton, MASc, PEng, is the qualified person responsible for the Chapitos project.
We seek Safe Harbor.
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