Camino to Commence the Inaugural Drilling Program at Maria Cecilia Porphyry with 0.7% Oxidized Copper Identified at Surface

Rhea-AI Summary

Camino has announced its inaugural drilling program at the Maria Cecilia copper porphyry project in Peru, starting June 1, 2024. This program aims to discover copper mineralization and estimate zonation for further drilling. Previous drilling at nearby Toropunto and Emmanuel revealed significant copper equivalent grades, indicating potential at Maria Cecilia. Camino plans to drill two 750-meter holes at Porphyry 1 and Porphyry 2 to target a large magnetic anomaly. Geological observations and recent assay results show promising copper oxide mineralization at surface levels. The project also includes newly identified Porphyry 3, which covers 0.4 by 1 km with notable copper mineralization features.

Positive

• Commencement of drilling program on June 1, 2024, signals project progress.
• Previous drills in adjacent areas Toropunto and Emmanuel show significant copper grades, reinforcing potential.
• 30,000 meters of drilling already completed in the complex.
• Discovery of green copper oxide mineralization at surface with up to 0.7% Copper.
• Potential for primary copper, gold, and molybdenum deposits at depth.
• Newly identified Porphyry 3 adds to the project's overall scope.

Negative

• High exploration costs associated with drilling two 750-meter holes.
• Uncertainty in actual depth and quality of mineralization despite surface indications.
• Project's reliance on historical data may not fully predict current resource potential.
• Potential delays or issues with deep drilling operations.

VANCOUVER, BC / ACCESSWIRE / May 29, 2024 / Camino Minerals Corporation (TSXV:COR)(OTC PINK:CAMZF)(WKN:A116E1) ("Camino" or the "Company") is pleased to announce that the discovery drilling campaign at its wholly-owned Maria Cecilia copper porphyry project ("Maria Cecilia" or the "Project") in Peru will commence on June 1, 2024. The purpose of the drilling campaign at Maria Cecilia is to discover copper mineralization and to enable Camino to estimate the corresponding zonation in the porphyry stock for further follow-up drilling. Over 30,000 metres of drilling, including a NI43-101 compliant resource has been completed at the adjacent mountains, Toropunto and Emmanuel. The entire porphyry complex spans over 5 kilometers, and the current drilling target, Maria Cecilia, is at the centre.

Highlights from previous drilling (see figure 5):

At Toropunto:

• TOR13-09: 40 metres @ 1.34% CuEq from 186 m
• TOR13-09: 66 metres @ 1.52% CuEq from 271 m
• TOR14-23: 67 metres @ 0.81% CuEq from 216 m

At Emmanuel:

• EMM15-06: 46m @ 0.61% CuEq from 380 m
• EMM 15-08: 52m @ 0.71% CuEq from 160 m

Geological consultant Jose Bassan stated that "the potential for copper mineralization exists in both the reactive host rocks and in the intrusive porphyries that outcrop at Maria Cecilia. We plan to drill-test Porphyry 1 to a depth of 750 metres to determine if the oxide copper observed at surface extends to a copper, gold, and molybdenum primary sulphide deposit at depth. It is possible, based on geophysics, that one large sulphide deposit connects to all the porphyry outcrops 1, 2 and 3. In addition, historical drilling at the adjacent deposits at Toropunto and Emmanuel demonstrate the potential to intercept high grade copper and gold."

Camino's geological team has observed exposed rock exhibiting green copper oxide mineralization (Figure 1) with corresponding chip samples up to 0.7% Copper at the location of the first drilling platform at Porphyry 1. These recent assay results are comparable in grade to historical test pit samples in this area. Camino intends to drill up to two 750-meter holes, at locations of copper mineralized porphyry outcrops Porphyry 1 and Porphyry 2 (Figure 2), to intercept a significant magnetic anomaly with the potential to host a robust mineralized porphyry system. The goal of current drilling campaign is to confirm the presence of primary porphyry copper mineralization, along with gold and molybdenum, at depth. In addition, mineralization may be discovered in reactive host rocks, notably the sandstone and limestones of the Goyllarisquizga group that could host large-scale concentrations of copper mineralization, within the Cordillera Negra belt.

Figure 1. Exposed rock exhibiting green copper oxide mineralization at surface of Porphyry 1.

Figure 2. Maria Cecilia drilling targets, Porphyry 1, Porphyry 2, and Porphyry 3. Dimple marks are historical rock chip sample test pits around Porphyry 1 and Porphyry 2.

The first drillhole at Maria Cecilia is designed to be drilled at a steep angle due south to a depth of approximately 750 metres, targeting a large geophysical anomaly at depth. Layers of cream coloured sandstone with different shades have been exposed over 350 metres of the new road towards the first drilling platform, with a N25°W strike and subvertical dips. This sandstone sequence is interspersed with multiple sill-like porphyry fingerings. Skarn horizons and massive sulfide mantles have been observed at the location. These are characterized by moderate argillic alteration superimposed on a potassic background alteration, in addition to intense quartz veining >20/m, forming stockwork. Observed mineralization consists of black copper oxides (Figure 3) attached to the fracture planes and is in some cases accompanied by jarosite-goethite.

Figure 3. Yellowish-gray porphyry with moderate argillization, fine and thick quartz veinlets forming stockwork. The mineralization is represented by moderate black copper oxides in the fractures and in the vein walls.

Finally, a new target, Porphyry 3, was identified during the drilling platform's construction, covering approximately 0.4 by 1 kilometer. The geological composition of this target includes metasediments with pronounced quartz-sericite alteration, a stockwork of quartz veinlets, and the presence of oxidized copper minerals, primarily tenorite (Figure 4). These features are attributed to the porphyry systems outcropping at Porphyry 1 and Porphyry 2, which are believed to be the sources of the observed alterations and mineral deposits.

Figure 4. Exposed oxidized copper at a newly identified Porphyry 3.

The Maria Cecilia porphyry complex spans over 5 km with historical NI43-101 compliant resources at the adjacent Toropunto and Emmanuel deposits that demonstrate mineralization of copper, gold, and molybdenum (Figure 5).

Figure 5. Long Section of Maria Cecilia Multi-Intrusive Copper Porphyry System

About Camino
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, 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 contents of this document. Mr. Bassan has reviewed and verified relevant data supporting the technical disclosure.

ON BEHALF OF THE BOARD	For further information, please contact:
/S/ "Jay Chmelauskas"	Camino Investor Relations
President and CEO	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 Company's internal view of potential results of the contemplated drill program at 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 may be different than those expected by management and that the Company may be unable to obtain or will experience delays in obtaining any required authorizations and approvals. 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 accesswire.com

FAQ

When will Camino start drilling at Maria Cecilia?

Camino will start drilling at Maria Cecilia on June 1, 2024.

What is the copper grade found at surface in Maria Cecilia?

The copper grade found at surface in Maria Cecilia is up to 0.7% oxidized copper.

How deep will Camino drill at Maria Cecilia?

Camino plans to drill up to a depth of 750 meters at Maria Cecilia.

What other minerals are expected to be found at Maria Cecilia?

In addition to copper, Camino expects to find gold and molybdenum at Maria Cecilia.

Where are the drilling targets at Maria Cecilia located?

The drilling targets at Maria Cecilia are located at Porphyry 1, Porphyry 2, and the newly identified Porphyry 3.

What potential does the Maria Cecilia project have for high-grade copper?

Historical drilling at adjacent Toropunto and Emmanuel deposits revealed high-grade copper, indicating potential at Maria Cecilia.

What is the significance of the magnetic anomaly at Maria Cecilia?

The magnetic anomaly at Maria Cecilia suggests a robust mineralized porphyry system at depth.