Camino Minerals Corporation

TSX VENTURE : COR


Camino Minerals Corporation

January 30, 2014 16:39 ET

Camino Minerals Corporation: Drilling Underway at Maijoma Project

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 30, 2014) - Camino Minerals Corporation (TSX VENTURE:COR) ("Camino" or the "Company") is pleased to announce that drilling is underway at the Maijoma Project ("Maijoma"), located in Chihuahua State, Mexico. This is the first ever drill program to be carried out at Maijoma, which is prospective for the discovery of a zinc-lead-silver carbonate replacement deposits (CRDs) and skarns. Camino plans to drill a minimum of four holes in the 1,000 metre reverse circulation drill program.

Owned 100% by the Company, Maijoma was acquired by Canplats Resources Corp. ("Canplats") in 2007 through staking by Perry Durning and Bud Hillemeyer. Exploration work completed by Canplats and Camino has identified several large-scale areas of alteration and mineralization in a well-defined east-northeast trending structure that extends for more than 8 kilometres. Maijoma is positioned near the junction of the east-northeast trending structure and a prominent northwest trending regional fault that extends north to the Shafter District. Regionally, structural intersections control major mineralized trends that can be seen at Santa Eulalia, to the west, and the Shafter District, to the north.

Santa Eulalia, located approximately 170 kilometres west of Maijoma, was first discovered by the Spanish in 1591 and has produced approximately 12,000 tonnes of silver (423,287,544 ounces of silver), 3 million tonnes (6.6 billion pounds) of lead and 2 million tonnes (4.4 billion pounds) of zinc. The Shafter District, located approximately 100 kilometres north of Maijoma, was discovered in 1883. The principal mine in the Shafter District is the Presidio, which is reported to have produced nearly 36 million ounces of silver and 8,400 ounces of gold (base metal content was not reported). Past production, and current reserves and resources, at the Shafter District amounts to almost 80 million ounces of silver.

In June, 2013, Camino carried out a ground gravimetric survey over a portion of the east-northeast trending corridor that hosts the Maijoma system. A total of 634 gravity points were taken covering an area of 490 hectares (1.9 sq. miles). The survey outlined two gravity anomalies, one to the northeast and one to the south. Both areas coincide with anomalous silver, lead and zinc values obtained in rock sampling. The anomaly to the northeast, measuring approximately 1,500 metres by 200 metres, also corresponds with a limestone window overlain by younger ignimbrites of the upper volcanic sequence and a series of I.P. chargeability anomalies. Combined, the geology and the gravity and I.P. anomaly, strongly suggests the presence of sulphide mineralization. The southern gravity anomaly corresponds with strongly altered dacite porphyry intruding into strongly metasomatized limestones. The alteration is characterized locally by the presence of abundant green-to-pink garnets and vesuvianite in the intrusive, which indicates contact metamorphism normally associated with skarns. Jasper replacement layers are developed in the sediments along contacts with the dacite porphyry. These strata bound formations are strongly anomalous in zinc, with lower lead and silver values, and are believed to represent the distal portion of up flow zones that may be grading into massive sulphides at depth.

Over 2,890 hectares (11 sq. miles) in size, Maijoma is located 65 kilometres southeast of Ojinaga, in northeast Chihuahua State, and is easily accessed by paved and gravel roads. Please refer to Camino's web site for maps and images of the Project.

"The geology, structural setting and exploration results indicate that Maijoma is highly prospective for the discovery of carbonate replacement deposits," said Gordon Davis, Camino's Chairman and CEO.

About Camino Minerals Corporation

Camino is a discovery-oriented mineral exploration company formed in connection with Goldcorp's C$300-million acquisition of Canplats. 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 the Company's website at www.caminominerals.com.

The technical information contained in this news release has been approved by Richard Dufresne, P.Geo., Camino's V.P. Exploration, a "Qualified Person" as defined under N.I. 43-101.

To receive Camino's news releases, contact Blaine Monaghan, V.P., Corporate Development, at info@caminominerals.com or (866) 338-0047.

Neither the 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

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.

Contact Information

  • Camino Minerals Corporation
    R.E. Gordon Davis
    Chairman and C.E.O.
    Direct: (604) 629-8292

    Camino Minerals Corporation - Investor Inquiries
    Blaine Monaghan
    V.P., Corporate Development
    Direct: (604) 629-8294 or Toll-Free: (866) 338-0047
    info@caminominerals.com
    www.caminominerals.com