Camino Commences Copper Discovery Exploration Drilling at the Los Chapitos Project in Peru
Camino Minerals (CAMZF) has initiated its exploration campaign at the Los Chapitos Copper Project in Peru, fully funded through a CAD$1.5 million earn-in payment from exploration partner Nittetsu Mining Co.,
The drilling campaign comprises 11 drill holes totaling approximately 1,200 meters, focusing on copper oxide zones and potential sulphide mineralization along the La Estancia fault, which extends over 12km. Geochemical sampling has revealed copper oxide grades up to 3.8% Cu and 4.0 ppm Ag.
Additionally, the company has granted 675,000 incentive stock options to directors, officers, and employees, exercisable at $0.36 until January 20, 2030. The company is also issuing 147,059 common shares as finder's fees related to the Nittetsu Mining earn-in agreement.
Camino Minerals (CAMZF) ha avviato la sua campagna di esplorazione presso il Progetto Rame Los Chapitos in Perù, interamente finanziata attraverso un pagamento di earn-in di 1,5 milioni di CAD da parte del partner di esplorazione Nittetsu Mining Co.
La campagna di perforazione comprende 11 fori di perforazione per un totale di circa 1.200 metri, concentrandosi sulle zone di ossido di rame e sulla potenziale mineralizzazione di solfuri lungo la faglia di La Estancia, che si estende per oltre 12 km. I campionamenti geochimici hanno rivelato gradi di ossido di rame fino a 3,8% Cu e 4,0 ppm Ag.
Inoltre, la società ha concesso 675.000 opzioni su azioni incentive ai direttori, funzionari e dipendenti, esercitabili a $0,36 fino al 20 gennaio 2030. La società emetterà anche 147.059 azioni ordinarie come commissioni per il finder in relazione all'accordo di earn-in di Nittetsu Mining.
Camino Minerals (CAMZF) ha iniciado su campaña de exploración en el Proyecto de Cobre Los Chapitos en Perú, financiada completamente a través de un pago de earn-in de 1,5 millones de CAD por parte de su socio exploratorio Nittetsu Mining Co.
La campaña de perforación comprende 11 agujeros de perforación con un total de aproximadamente 1.200 metros, centrándose en zonas de óxido de cobre y potencial mineralización de sulfuros a lo largo de la falla de La Estancia, que se extiende por más de 12 km. El muestreo geoquímico ha revelado grados de óxido de cobre de hasta 3,8% Cu y 4,0 ppm Ag.
Además, la empresa ha otorgado 675.000 opciones sobre acciones de incentivo a directores, funcionarios y empleados, ejercitables a $0,36 hasta el 20 de enero de 2030. La empresa también emitirá 147.059 acciones comunes como tarifas de descubrimiento relacionadas con el acuerdo de earn-in de Nittetsu Mining.
카미노 미네랄스 (CAMZF)는 페루의 로스 차피토스 구리 프로젝트에서 탐사 캠페인을 시작했으며, 이는 탐사 파트너인 니텐쓰 광업(Nittetsu Mining Co.)의 150만 캐나다 달러의 투자로 전액 자금 지원받았습니다.
드릴링 캠페인은 총 11개의 드릴 홀로 구성되어 있으며, 약 1,200미터를 목표로 하고 있으며, 구리 산화물 지역과 라 에스탄시아 단층을 따라 12km 이상에 걸쳐 있는 잠재적 황화물 광체에 초점을 맞추고 있습니다. 지화학 샘플링 결과, 구리 산화물 등급이 최대 3.8% Cu 및 4.0 ppm Ag로 나타났습니다.
또한, 회사는 이사, 임원 및 직원에게 675,000개의 인센티브 주식 옵션을 부여했으며, 이는 $0.36의 가격으로 2030년 1월 20일까지 행사할 수 있습니다. 회사는 니텐쓰 광업의 투자 계약과 관련하여 147,059개의 일반 주식을 찾는 수수료로 발행할 예정입니다.
Camino Minerals (CAMZF) a lancé sa campagne d'exploration au Projet de Cuivre Los Chapitos au Pérou, entièrement financée par un paiement d'acquisition de 1,5 million CAD de la part de son partenaire d'exploration Nittetsu Mining Co.
La campagne de forage comprend 11 forages totalisant environ 1 200 mètres, se concentrant sur les zones d'oxyde de cuivre et la potentielle minéralisation en sulfure le long de la faille de La Estancia, qui s'étend sur plus de 12 km. Les échantillons géochimiques ont révélé des teneurs en oxyde de cuivre allant jusqu'à 3,8% Cu et 4,0 ppm Ag.
De plus, la société a accordé 675 000 options d'actions incitatives à des directeurs, responsables et employés, exerçables à 0,36 $ jusqu'au 20 janvier 2030. La société émettra également 147 059 actions ordinaires en tant que frais de courtage liés à l'accord d'acquisition avec Nittetsu Mining.
Camino Minerals (CAMZF) hat seine Erkundungskampagne im Los Chapitos Kupferprojekt in Peru gestartet, die vollständig durch eine Erstzahlung von 1,5 Millionen CAD von seinem Explorationspartner Nittetsu Mining Co. finanziert wird.
Die Bohrkampagne umfasst insgesamt 11 Bohrlöcher mit einer Länge von etwa 1.200 Metern, wobei der Fokus auf Kupferoxidzonen und potenzieller Sulfidmineralisation entlang des La Estancia-Fehlers liegt, der sich über mehr als 12 km erstreckt. Geochemische Probenahmen haben Kupferoxidgehalte von bis zu 3,8% Cu und 4,0 ppm Ag ergeben.
Zudem hat das Unternehmen 675.000 Incentive-Aktienoptionen an Direktoren, Führungskräfte und Mitarbeiter ausgegeben, die bis zum 20. Januar 2030 zu einem Preis von $0,36 ausgeübt werden können. Außerdem wird das Unternehmen 147.059 Stammaktien als Findergebühren im Zusammenhang mit dem Earn-in-Abkommen von Nittetsu Mining ausgeben.
- Secured CAD$1.5 million funding from Nittetsu Mining for exploration
- High-grade copper oxide samples showing up to 3.8% Cu and 4.0 ppm Ag
- Exploration target along significant 12km mineralized trend
- None.
VANCOUVER, BC / ACCESS Newswire / January 22, 2025 / Camino Minerals Corporation (TSXV:COR)(OTC PINK:CAMZF) ("Camino" or the "Company") is pleased to announce the commencement of its exploration campaign at the Los Chapitos Copper Project ("Los Chapitos" or the "Project") in Peru. The campaign is fully funded through a CAD
"The Pampero drilling target lies along the major La Estancia fault that extends for over 12km at the Los Chapitos copper project. We are drilling newly identified copper breccias and copper mantos that have been mapped at surface to determine their extension at depth" said Camino's partner at Los Chapitos, Nittetsu geologist, Yoshikazu Fujimoto. "Our goal is to intersect bulk tonnages of near-surface copper oxide, with the possibility for copper sulphide extensions at depth."
The drilling campaign will focus on copper oxide zones and explore potential copper sulphide mineralization. The campaign is planned as 11 drill holes and approximately 1,200 meters in total to be drilled. The campaign will focus on copper mineralization targets along the La Estancia fault that extends for over 12km NW-SE, one of several mineralized trends at Los Chapitos (Figure 2 and Figure 3) (see news release dated October 22, 2024). Geochemical sampling in trench channels show copper oxides grades up to
The main goal of the drilling campaign at the Pampero target is to intercept the projected bodies of breccias (Figure 1) or mantos at depth with the copper oxide and sulfide mineralization observed at surface. Surface mineralization observed during mapping includes malachite/atacamite, chrysocolla, chalcopyrite, and specularite (Figure 3), with strong chloritic-sericitic-silice alteration on the surface at the contact of the intrusive bodies of monzonite composition in contact with the Chocolate Formation. The intersection of major structures, such as the La Estancia fault, with other minor structures allows for the opening for feeders and feeder-type mineralization conduits and lentiform mantos that are similar to those mapped in previous years along the Diva Trend.
Option Grants and Issuance of Shares
The Company has granted incentive stock options to its directors, officers, and employees to purchase 675,000 shares of the Company on or before January 20, 2030, at an exercise price of
In addition, the Company is issuing 147,059 common shares to a non-related third-party, Resource Play (the "Finder") as finder's fees in connection with the Earn-in Agreement with Nittetsu Mining Co., Ltd ("Nittetsu") for the Los Chapitos Property. The issue of 147,059 common shares to the Finder has been adjusted for the 6:1 Share consolidation the Company completed on January 20, 2025.
The TSX Venture Exchange (the "TSXV") previously provided approval for the issuance of 2,235,295 pre-consolidation common shares to the Finder which was completed in April 2024 (see news release dated April 3, 2024). The TSXV also provided conditional approval for the issuance of further common shares to the Finder if Nittetsu exercised their right under the agreement to contribute their 3rd option instalment payment of CDN
The finder's fee agreement was previously announced on February 1, 2023, and June 14, 2023, and the issue of stock to satisfy the finder's fee was announced on January 10, 2023.
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, 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 contents of 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 |
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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, without limitation, statements with respect to the prospectivity of future exploration work at Los Chapitos, future planned drilling programs, and prospectivity for copper exploration in new targets. 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.
SOURCE: Camino Minerals Corp
View the original press release on ACCESS Newswire
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