has received final assay results from the recently completed diamond drill campaign at the El Secreto Gold and Silver Project (“El Secreto”), located in Sinaloa State, Mexico. Camino drilled a total of 2,984 metres in 13 holes between the months of April and July. Seven different targets, including epithermal and mesothermal vein systems and porphyry targets, were tested within a 54 square kilometre area.
The objective of the diamond drill program was twofold: 1) to test for significant gold and silver mineralization in stockwork zones and ore shoots below the mineralization encountered in the Company’s earlier reverse circulation campaign and, 2) to test a number of new exploration targets generated by Camino’s property wide exploration program. Of the seven targets drilled, three returned anomalous gold and/or silver mineralization, with two being new exploration targets.
At the Rio Verde Zone, a new exploration target, hole SE-13-013 returned 232.3 g/t silver and 0.33% lead over 6 metres (core length). The mineralization is hosted within a silicified and chloritized horizon controlled by local faulting. Further detailed mapping is required to determine the continuity of this structure.
The Corn Field Zone contains the Corn Field Vein (CFV) and the Corn Field Vein South (CFVS), a parallel vein structure located approximately 150 metres south. CFV was tested by Camino in an earlier reverse circulation drill program with Hole SE-12-001 returning 84 metres of 0.33 g/t Au and 6.5 g/t Ag, including 30 metres of 0.58 g/t Au and 11.1 g/t Ag (see news release dated January 18, 2013). Hole SE-13-024 was drilled to test the depth extension of the mineralization intersected in Hole SE-12-001 and returned 58.50 metres of 0.12 g/t gold and 3.0 g/t silver (core length). CFVS, a new exploration target, was tested by three holes with Hole SE-13-021 returning 0.44 g/t Au and 3.14 g/t Ag over 3.5 metres (core length).
Before any subsequent exploration work is undertaken at El Secreto, the data generated from the diamond drill program needs to be compiled and interpreted. In the meantime, Camino is currently evaluating a number of advanced-stage gold projects located in northern Mexico and Southwestern U.S.
In addition to diamond drilling, Camino completed a gravimetric survey at the Maijoma Claim Group (“Maijoma”), located in Chihuahua State, in July. Early results indicate the presence of semi-massive to massive sulphide lenses at depth, located below the anomalous silver, lead and zinc surface samples. Maijoma covers a portion of the recently-recognized “Maijoma Structural Break”, which was identified by Perry Durning and Bud Hillemeyer just prior to their Camino Rojo discovery. Over 300 kilometres in length, the trend begins at the Santa Eulalia mine, located in Chihuahua, and carries on into Texas. Maijoma is considered to be very prospective for the discovery of carbonate replacement deposits (CRDs) and skarns. Several targets have been identified which require additional mapping and, ultimately, drilling.
“With approximately $1.4 million in the treasury, Camino has sufficient funds to further advance Maijoma and to make new acquisitions.” said Gordon Davis, Camino’s Chairman and CEO.
2013 Diamond Drilling Summary
|Hole Number||Easting||Northing||Elevation||Az.||Dip||Length||Target Name||Comments|
|SE-13-012||361470.0||2656072.0||194.0||170||-45||145.6||Rio Verde||Alteration zone was cut hosting disseminated and vein pyrite between 57.5 and 58.5 metres: 45.3 g/t Ag and 0.2% Pb|
|SE-13-013||361487.0||2656043.0||193||150||-45||64.6||Rio Verde||Between 44.0 and 50.0 metres: 232.3 g/t Ag and 0.33% Pb.|
|SE-13-014A||364781.0||2661522.0||685.0||140||-50||410.1||El Secreto Vein||Structure intersected around 222 metres: 4.95 g/t Au and 86 g/t Ag over 20 cm.|
|SE-13-015||364780.0||2661521.0||685.0||170||-50||319.3||El Secreto Vein||Vein was cut at 284.8m. Minor pyrite and arsenopyrite. No significant results.|
|SE-13-016||364780.0||2661522.0||685.0||330||-50||170.7||North Vein||No vein intersected.|
|SE-13-017||361582.2||2661905.9||173.0||160||-65||348.0||Cerro Verde vein||Multiple scattered Cpy-Bo-Mo Qz veinlets throughout the hole within the granodiorite. No significant results.|
|SE-13-018A||356817.6||2659945.7||412.0||320||-50||150.0||El Molino Vein||No significant results.|
|SE-13-019||356868.4||2660014.8||399.0||330||-65||147.0||El Molino Vein||No significant results.|
|SE-13-020||356867.7||2659536.7||484.0||320||-45||213.0||Santos vein||No significant results.|
|SE-13-021||360252.8||2660374.5||270.0||160||-45||246.0||Corn Field Vein South||Weakly mineralized horizon between 23.5 and 27.0 m: 0.44 g/t Au and 3.14 g/t Ag|
|SE-13-022||360223.0||2660474.0||245||160||-45||201.0||Corn Field South||No significant results.|
|SE-13-023||360308.0||2660218.0||260||160||-45||219.0||Corn Field South||No significant results.|
|SE-13-024||360215.8||2660642.9||243.0||160||-75||350.0||Corn Field Vein||Undercut Hole SE-12-001. Intersected 75 metres with close to 50% altered granodiorite with disseminated pyrite and arsenopyrite mineralization.|
Assaying for this program was completed by ALS Global through their office in Zacatecas, Mexico, which carries out the sample preparation. The pulps are sent by courier to their laboratories in North Vancouver. Gold was analyzed using a 30g fire assay with AA finish. A 51 multi-element suite using both ICP-MS and ICP-AES techniques was also used. A QA/QC program was in place from sample collection through to laboratory analysis. This included use of gold standards, blanks and duplicates. Samples chain of custody was monitored and reported at every stage.
About the El Secreto Gold and Silver Project
Recently consolidated by Arcelia Gold Corp. (“Arcelia”), a private BC company, through staking and the acquisition of privately held claims, El Secreto consists of three mineral concessions encompassing over 12,000 hectares (49 square miles). The Project is located approximately 100 kilometres northeast of Mazatlan, Sinaloa State, and is accessible by paved and gravel roads. The geology and mineralization obtained to date suggests that El Secreto is highly prospective for the discovery of epithermal and mesothermal gold-silver vein systems. Camino has an option to earn up to an 80-per-cent interest in El Secreto from Arcelia.
About Camino Minerals Corporation
Camino is a discovery-oriented mineral exploration company formed in connection with Goldcorp’s C$300-million acquisition of Canplats Resources Corp. The Company is led by Canplats’ former management and is focused on precious and base metal projects located in Mexico. For more information on Camino’s projects, please refer to Camino’s website at www.caminominerals.com
The technical information contained in this news release has been reviewed and approved by Richard Dufresne, P.Geo., Camino’s V.P., Exploration, a “Qualified Person” as defined under NI 43-101.
For further information, contact:
Camino Minerals Corporation
R.E. Gordon Davis
Chairman and C.E.O.
Direct: (604) 629-8292
V.P., Corporate Development
Direct: (604) 629-8294
Toll-Free: (866) 338-0047
To receive Camino’s news releases, contact Blaine Monaghan, V.P., Corporate Development, at [email protected] or (866) 338-0047.
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Cautionary Note Regarding Forward-Looking Statements
Statements contained in this news release that are not historical fact are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995 and forward-looking information under the provisions of Canadian securities laws (collectively, “forward-looking statements”). Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties include, but are not limited to, the company’s ability to raise sufficient capital to fund exploration, changes in economic conditions or financial markets, changes in prices for the company’s mineral products or increases in input costs, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments in Mexico, technological and operational difficulties or inability to obtain permits encountered in connection with exploration and development activities, labour relations matters, and changing foreign exchange rates, all of which are described more fully in Camino’s filings on SEDAR. The company undertakes no obligation to publicly update or otherwise revise any forward-looking statements, whether as a result of new information, future events or other factors, except as required by law. Readers are cautioned not to place undue reliance on forward-looking statements.