Camino Identifies Diana Zone as New Satellite Drilling Target at the Los Chapitos Project, Peru; Surface Channel Samples of 1.05% Copper over 56 meters

Rhea-AI Summary

Camino Corp. (TSXV:COR, OTC PINK:CAMZF) has identified the Diana Zone as a new drilling target at its Los Chapitos copper project in Peru. Previous sampling showed 1.05% total copper and 14 ppm silver over 56 meters. The company anticipates an expansion of its EIA drilling permit in Q2 2023, increasing its coverage to 6,012 hectares. The Diana Zone is strategically positioned near existing targets and shows similar geology to prior discoveries at the Lourdes Zone. CEO Jay Chmelauskas highlighted the potential for significant copper mantos in this new area, leveraging geological similarities to successful past drilling campaigns.

Positive

• Identified the Diana Zone with 1.05% Copper and 14 ppm Silver over 56 meters.
• Anticipating an expansion of the EIA drilling permit to 6,012 hectares, allowing more extensive exploration.
• Diana shows geological similarities to successful drilling campaigns at Lourdes Zone, suggesting potential for significant mineralization.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / February 8, 2023 / Camino Corp. (TSXV:COR)(OTC PINK:CAMZF) (WKN: A116E1) ("Camino" or the "Company") is pleased to announce that its field work and geological modeling has identified the Diana Zone as a new drilling target at the Los Chapitos copper project ("Los Chapitos" or "the Project") in Peru. Previous channel sampling over the Diana Zone yielded 1.05% total copper and 14 ppm silver over 56m. The Diana Zone appears stratigraphically related to recently discovered oxidized copper mineralization at the Lourdes Zone that was drilled in 2022 with similar copper grades and intercepts (see news release dated July 6, 2022). A video showing the oxidized copper exposure at the surface of Diana can be seen here. The Diana Zone is located approximately 1.5 km northeast of Lourdes and 2.2 km northwest of Camino's main copper discovery zone at Adriana.

Highlights:

• 1.05% total copper and 14 ppm silver over 56 metres in channel sample along azimuth 130°, samples name: "X061522 to X061550" (#29 samples) at Diana Zone with no prior drilling.
• An EIA drilling permit expansion expected in Q2 2023 to open 6,012 hectares for drilling.

"We are stepping out by several kilometers to identify satellite copper oxide deposits starting at the high-grade oxidized copper outcrop at Diana. Diana has surface channel samples of 1.05% Copper (Cu) and 14 ppm Ag over 56 metres with similar high-grade copper to our successful drilling campaign in 2022 where we intercepted 55.5 metres of 0.93% Cu and 6.71 ppm Ag (DCH-097) from surface at the Lourdes discovery", said Jay Chmelauskas, CEO of Camino Corp. "Our EIA drilling permit expansion is expected in Q2, which will expand our current EIA to 6,012 hectares, allowing us to target a larger and broader copper system over several kilometers, including three mineralized fault systems along the Diva, Atajo, and now Lagunillas faults. Our geological model targets buried porous geology that has the potential to host additional copper mantos previously found in weathered oxidized copper outcrops like Diana."

Head of Peru exploration, Felix Cornelio said, "Diana is located on the regional Lagunillas fault structure that runs parallel to our main copper mineralized controlling structure, the Diva fault. This is another mineralized system next to a regional fault with the same stratabound geology as the discoveries at Adriana and Lourdes. The Diana prospect and the Lourdes-Condori area provide the geological conditions for discovering more and possibly significant mineralized copper mantos".

A zonation in the elements sodium and potassium that are related to the calco-sodic metasomatism (albitization) and potassium Feldspar-silica, show the same geological conditions in the new target areas as Adriana. The most important phase, which is the copper mineralization episode, is exposed in the Lourdes feeder. Evidence of additional copper on surface and geological modelling supports multiple satellite mantos targets in this new area (Figure 1).

Figure 1. Plan map of exploration targets at Los Chapitos.

The relationship between the Adriana discovery and the Lourdes-Condori satellite target is related to the Diva Trend fault system, which aligns the silicified bodies identified as Olga and the Condori Silica Cap. The Silica Cap is a potential trap for other buried copper mantos that have not been exposed by weathering (see Figure 2).

Geological modelling shows evidence that the Molybdenum (Mo) and Cobalt (Co) anomalies detected at Gallinazo, Gorro, and Abrahancillo in dioritic bodies are closely related to the Diva Trend system and demonstrate geological similarities to the deep parts of the Adriana model.

Figure 2. SW-NE section showing the targets from Abrahancillo to Diana projecting stratabound copper mantos targets.

Figure 3. Location map of Los Chapitos Project claims.

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 has also permitted the Maria Cecilia copper porphyry project for 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 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 /S/ "Jay Chmelauskas" President and CEO

For further information, please contact: Camino Investor Relations 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 Los Chapitos and the receipt of new exploration permits. 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.

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FAQ

What did Camino Corp announce on February 8, 2023?

Camino Corp announced the identification of the Diana Zone as a new drilling target at the Los Chapitos copper project, with significant surface channel sampling results.

What are the copper and silver grades found at the Diana Zone?

The Diana Zone yielded 1.05% total copper and 14 ppm silver over 56 meters in channel sampling.

When is the EIA drilling permit expansion expected?

The EIA drilling permit expansion is expected in Q2 2023, which will increase the exploration area to 6,012 hectares.

How does the Diana Zone relate to previous discoveries at Los Chapitos?

The Diana Zone is seen as stratigraphically related to the Lourdes Zone, where previous drilling indicated similar copper grades and intercepts.

What is the significance of the Diana Zone's geological characteristics?

The geological characteristics of the Diana Zone align with successful prior discoveries, indicating potential for additional significant mineralized copper mantos.