Camino's Mapping and Geophysics Program Identifies Major Deep-Seated Fault at Los Chapitos Copper Project in Peru
- Camino Corp. and Nittetsu Mining have identified the La Estancia fault, a deep-seated fault structure, at the Los Chapitos Copper Project. This discovery increases the possibility of finding a major copper deposit. The current strategy prioritizes extensions to existing near-surface copper oxide deposits and the discovery of new copper oxide zones. A drilling campaign is planned to commence in December.
- None.
VANCOUVER, BC / ACCESSWIRE / October 24, 2023 / Camino Corp. (TSXV:COR)(OTC PINK:CAMZF)(WKN:A116E1) ("Camino" or the "Company") together with its project partner Nittetsu Mining Co. Ltd ("Nittetsu"), is pleased to announce that the recent geological mapping and geophysics program has identified the La Estancia fault ("La Estancia"), a deep-seated "thick skinned" fault structure through the centre of the property constituting the Los Chapitos Copper Project ("Los Chapitos" or the "Project"). The La Estancia fault extends for 12 kilometers in a northwest direction. Historically, Camino has made copper discoveries on either side of this structure, drilling significant copper intercepts along secondary fault structures such as at Adriana, Lourdes, and Atajo.
Surface geological mapping and a geophysics program completed to depths of 500 meters support the presence of the La Estancia fault. La Estancia's significance lies in its interpretation as a deep fault, serving as a conduit for the copper mineralization that Camino has been drilling near surface, as well as for buried copper mantos. The Company's current strategy prioritizes extensions to existing near-surface copper oxide deposits, and the discovery of new copper oxide zones, with the potential for copper sulphide discoveries at depth. Major deposits, such as Manto Verde, Candelaria, Carolina de Michilla, have all been discovered in relation to deep-seated structures.
Highlights:
- Identified new La Estancia deep fault system extending for 12 kilometers.
- Completed a magnetic survey to depths of 500 meters covering 1,079 km and 9,626 hectares.
- 1:25,000 scale and 1:5,000 scale geological mapping complete.
- 1:1,000 geological mapping and drill targeting underway for proposed drilling campaign commencing in December.
The mapping and drone geophysics survey (see news release dated July 26, 2023) was carried out by Camino's geological team and Nittetsu, together with Chilean geologists from July to September 2023, and consisted of 1,079 line kilometers of survey and covering 9,626 hectares. As a result of this work, Camino has identified multiple "thin skinned faults" as well as a deep-seated "thick skin" La Estancia fault system (Figure 1). The La Estancia fault provides additional information about the intrusive bodies in the Los Chapitos claim area and their relationship with hydrothermal alteration and copper mineralization in both oxides and sulfides. The discovery of this fault system has significant implications as it relates to the spatial-temporal relationship observed between large copper deposits in significant mining districts of Chile. The presence of this "thick skinned" fault increases the possibility of finding a major copper deposit. This relationship is observed in the copper porphyry and molybdenum belts, and in the IOCG belts along the Chilean Coast, with significant deposits typically situated within a radius of less than 5 km from a "thick skinned" fault's propagation zone.
For the current drilling campaign planned to commence as early as December, 2023, Camino is conducting 1:1,000 scale geological mapping in targeted prospective zones along the main Diva Trend to determine locations for drill holes.
Figure 1. Fault structures controlling copper mineralization at Los Chapitos, Peru
Felix Cornelio, Chief Geologist at Camino stated, "While the planned winter drilling campaign will continue to target near-surface copper oxides, we will also consider copper sulfide targets at depth, providing additional opportunities for larger discoveries. The discovery of the La Estancia fault has provided us with the opportunity to evaluate a new structural corridor extending more than 12 kilometers through the center of Los Chapitos, in addition to the Diva and Atajo trends."
Camino used unmanned aircraft and magnetometers equipped with georeferencing systems and other navigation instruments to perform the magnetic surveys. Aero-magnetometry is a relatively new technique that provides for automated missions, flying at low altitudes and covering large distances in a short time for increased efficiency and high precision accuracy.
The recent geophysical survey detected a main magnetic body following a Northwest-Southeast trend. This continuous magnetic susceptibility observed along the Atajo Trend, suggests possible magnetite enrichment, with anomalies likely associated with ultramafic rocks with stratigraphic control and/or replacement by secondary magnetic mineralization. A second important anomaly is related to the deep-seated La Estancia Fault (Figure 2) following the same Northwest trend.
Figure 2. Geophysics and rock geochemistry aligned with faults at Los Chapitos, Peru
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 adding 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 is seeking 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, FAusIMM (CP) 227922, MSc. Geologist, an independent geologist and a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the 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 /S/ "Jay Chmelauskas" | For further information, please contact: |
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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