Camino Receives Start of Activities Authorization for the Next Drilling Targets at the Los Chapitos Copper Project in Peru
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Sep 18, 2023, 6:00 AM ET
VANCOUVER, BC / ACCESSWIRE / September 18, 2023 / Camino Corp. (TSXV:COR)(OTC PINK:CAMZF)(WKN:A116E1) ("Camino" or the "Company") is pleased to announce that it has received the first phase of its Start-of-Activities authorizations from the General Directorate of Mining (DGM) of the Ministry of Energy and Mines to begin earth moving activities at the Company's Los Chapitos copper project ("Los Chapitos" or the "Project") in Peru. This authorization coincides with the Environmental Impact Study ("EIA") expansion that was received in June, 2023 that allows the Company to explore over an area of 6,012 hectares (see news release dated June 20, 2023).
The first phase covers approximately half of the EIA area; it is expected that the second phase will receive authorization in several months once a cultural review has been completed. The permit will enable Camino to commence road construction and preparations for its next exploration drilling campaign. Recent geological field work has identified new drilling targets over broad zones of potential mineralization to the south of Camino's main Adriana zone, and also to the north at the Lourdes Zone. Lourdes is a new copper discovery made in 2022 with broad intercepts of oxidized copper mineralization including 55 m at 0.93% Cu from surface (see news release dated September 7, 2022). The target zones are modelled around new interpretations and fault controls similar to geological features found in the copper-rich Candelaria district of Chile, where our partner Nittetsu Mining Co., Ltd. operates the Atacama Kozan mine. Drilling will target near-surface oxidized copper and will likely commence as early as December 2023.
"Recent geological mapping with our partner Nittetsu has identified broad areas to target new near-surface oxide copper. Nittetsu operates the Atacama Kozan mine in the prolific copper district of Candelaria, and our work over the summer included mapping with Chilean geologists who offer new ideas and bring their experience in the Candelaria district to our copper project in Peru", said Jay Chmelauskas, CEO of Camino. "We are currently prioritizing drill targets for our next drilling campaign at our Los Chapitos copper project that we plan to launch as early as December."
About Camino Corporation
Camino is a discovery and development stage copper exploration company. Camino is focused on advancing its high-grade Los Chapitos copper project located in Peru through to resource delineation and to add new discoveries. Camino has also permitted the Maria Cecilia copper porphyry project for a planned exploration drilling program. 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, MSc. Geologist, an independent geologist FAusIMM (CP) 227922, a qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the technical technical information in this document. Mr. Bassan has reviewed and verified relevant data supporting the technical disclosure, including sampling and analytical test data.
ON BEHALF OF THE BOARD
For further information, please contact:
/S/ "Jay Chmelauskas"
Camino Investor Relations
President and CEO
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 Los Chapitos and the receipt of necessary authorizations and approvals. 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 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.
SOURCE: Camino Minerals Corp.
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