Camino Granted Drilling Permit in Central Area of the Maria Cecilia Copper Gold Porphyry Complex in Peru
Camino Corp. (OTC PINK: CAMZF) announced the receipt of the Declaration of Environmental Impact permit for its Maria Cecilia copper project in Peru, allowing drilling of up to 23,000 metres on 20 platforms. Since 2012, the project has received around US $28 million in investments, including a maiden copper and gold resource unveiled in 2021. Historical drilling has reported grades of up to 6.7% Cu and a significant magnetic anomaly in the region. The company is now seeking its Start of Operations permit to begin preparations for drilling.
- Receipt of Declaration of Environmental Impact permit allows drilling of up to 23,000 metres.
- Significant investment of approximately US $28 million since 2012 indicates strong commitment to the project.
- Historical drilling revealed copper grades up to 6.7%, showcasing the project's potential.
- Potential delays in obtaining the Start of Operations permit may hinder progress.
- Forward-looking statements indicate uncertainty regarding exploration results and permit approvals.
VANCOUVER, BC / ACCESSWIRE / September 12, 2022 / Camino Corp. (TSXV:COR) (OTC PINK:CAMZF) (WKN:A116E1) ("Camino" or the "Company") is pleased to announce that it has received the Declaration of Environmental Impact permit ("DIA Maria Cecilia") that authorizes drilling of up to 23,000 metres on 20 platforms in the central porphyry of its Maria Cecilia copper project in Peru ("Maria Cecilia"). Approximately US
Highlights:
- Up to
6.7% Cu is Skarn Zone and up to0.9% Cu in central Porphyry Zone at Maria Cecilia - 67 m @
0.72% Cu, 0.16 g/t Au - historical intercept in northern epithermal (Toropunto) - 290 m @
0.21% Cu and 0.24 g/t Au - historical intercept in southern porphyry (Emmanuel)
Figure 1. Maria Cecilia Porphyry Complex and NI 43-101 Resources
"The Maria Cecilia porphyry complex is a new copper deposit with a maiden NI 43-101 copper resource that was in private hands until our acquisition in 2021", said Jay Chmelauskas, CEO of Camino. "We plan to drill the central portion of the complex for the first time to test for higher grades of copper and gold and to potentially extend the strike of copper mineralization over 4.5 km."
The DIA Maria Cecilia was received from the General Directorate of Mining Environmental Affairs (DGAAM) of the Ministry of Energy and Mines (MEM). Camino has applied for its Start of Operations permit (which it expects to receive in the Fall of 2022); this is the final authorization to commence road construction, drilling pad preparation and core drilling.
As part of the Company's continuous consultation process, in August 2022 the Company attended an assembly with the local community of Santa Rosa de Quikakayan to confirm the effective area of the DIA Maria Cecilia and to inform the community of the work to be carried out in the area.
Photo 1. Camino representatives speak at the assembly with the community at Maria Cecilia in August 2022
Figure 2. Maria Cecilia Porphyry Complex - Skarn, Stockworks, Porphyry, Breccia Zones, Magnetic Anomaly
Maria Cecilia Copper Complex
In July 2021, Camino completed the acquisition of Minera Maria Cecilia Ltd. with Denham Capital affiliate, Stellar Investment Holdings LLC, which resulted in Camino owning and controlling the mineral rights and titles comprising the Maria Cecilia Porphyry and Skarn Complex located in Ancash, Peru (see news release dated July 14, 2021).
The Maria Cecilia property consists of 15 mineral concessions (approximately 7,110 ha) in the northern Peruvian region of Ancash (see Figure 3). Toropunto, Emmanuel, and Maria Cecilia are three contiguous epithermal and porphyry systems that form the Maria Cecilia project and were subject to a series of exploratory works since 2009, with geological mapping, geochemical sampling, surface geophysics, and diamond drilling. The Maria Cecilia exploration prospect has been identified as the main target for further exploration work, as Camino believes that it lies at the centre of a large porphyry complex.
Figure 3. Claim Map of Maria Cecilia and proximity to Caraz and the Peruvian coastline
About Camino 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 through to resource delineation and to add new discoveries. Camino is also permitting the Maria Cecilia copper porphyry project towards a planned exploration drilling program. In addition, the Company has increased its land position at its copper and silver Plata Dorada project. 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.
Jose Bassan MAusIMM (CP) 227922, MSc. Geologist, a Qualified Person as defined by NI 43-101, 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 |
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 and the ability to obtain any necessary permits and approvals for Maria Cecilia. 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/715475/Camino-Granted-Drilling-Permit-in-Central-Area-of-the-Maria-Cecilia-Copper-Gold-Porphyry-Complex-in-Peru
FAQ
What is the significance of the DIA Maria Cecilia permit for CAMZF?
How much has Camino Corp. invested in the Maria Cecilia project?
What grades of copper have been reported at the Maria Cecilia site?
What is the future drilling plan for Camino Corp. at Maria Cecilia?
What risks are associated with Camino Corp.'s exploration at Maria Cecilia?
