Camino Minerals Corporation: 2.58 g/t Gold and 5.0 g/t Silver Over 19.15 Metres Returned From Rodeo Gold Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/16/11 -- Camino Minerals Corporation (TSX VENTURE: COR) ('Camino' or the 'Company') reports that it has received final assay results from the remaining 19 holes at its 100% owned Rodeo Gold Project, located in Durango State, Mexico, with hole RO-11-026 returning 1.06 g/t Au and 13.00 g/t Ag over 102.25 metres, including 2.58 g/t Au and 5.00 g/t Ag over 19.15 metres.
Camino's diamond drill program, which ended in October, 2011, totaled 6,238.20 metres in 29 holes and tested a 5-kilometre long north, north-west trending epithermal system. Results from the first 10 holes were reported by the Company in a news release dated October 7, 2011.
Please see the table below for significant Au and Ag results:
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From To Length
Hole Number (metre) (metre) (metre) Au g/t Ag g/t
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RO-11-001(i) 6.60 213.90 207.30 1.06 12.94
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including 6.60 37.80 31.20 5.99 7.94
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including 55.80 123.30 67.50 0.20 21.70
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including 199.80 213.90 14.10 0.28 23.10
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RO-11-003 93.20 118.70 25.50 0.18 1.10
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RO-11-004 44.50 52.50 8.00 0.23 1.60
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162.50 207.85 45.35 0.13 1.60
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RO-11-005(i) 22.60 75.00 52.40 0.25 2.94
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RO-11-006A 57.20 71.90 14.70 0.13 0.60
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RO-11-007 23.40 242.00 218.60 0.12 1.50
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including 24.90 47.40 22.50 0.23 1.80
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including 206.50 218.50 12.00 0.23 1.50
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RO-11-008(i) 55.00 84.40 29.70 0.61 1.60
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including 66.90 69.90 3.00 0.61 1.86
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RO-11-009(i) 53.60 93.20 39.60 0.23 2.24
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111.30 116.00 4.70 0.49 5.07
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132.00 133.50 1.50 0.88 1.15
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RO-11-010 32.00 66.50 34.50 0.19 2.10
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including 38.00 52.80 14.80 0.28 2.30
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RO-11-011 53.60 56.80 3.20 0.16 0.79
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RO-11-012 32.30 33.80 1.50 0.59 0.89
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61.00 81.00 20.00 0.20 1.30
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RO-11-013(i) 12.10 67.95 55.85 0.41 1.66
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RO-11-014 sporadic sampling between 18.85 metres and 133.20 metres
returned up to 0.12 to 0.34 g/t Au and 1.10 to 2.60 g/t Ag
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RO-11-015 sporadic sampling between 102.00 metres and 217.00 metres
returned up to 0.11 to 0.20 g/t Au and 0.50 to 1.40 g/t Ag
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RO-11-016 114.80 130.90 16.10 0.19 1.30
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151.90 224.20 72.30 0.17 0.80
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RO-11-017 sporadic sampling between 27.80 metres and 135.90 metres
returned an average of 0.11 g/t Au and 0.80 g/t Ag
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including 72.70 87.70 15.00 0.22 1.10
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RO-11-018 sporadic sampling between 14.60 metres and 154.20 metres
returned up to 0.17 to 0.28 g/t Au and 1.00 to 2.90 g/t Ag
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RO-11-019 133.50 134.50 1.00 0.22 0.30
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(in sediments) 150.50 152.90 2.40 0.14 0.65
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RO-11-020 sporadic sampling between 143.00 metres and 260.00 metres
returned up to 0.10 to 0.23 g/t Au and 0.50 to 2.0 g/t Ag
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RO-11-021 sporadic sampling between 37.30 and 144.00 metres returned
up to 0.10 to 0.27 g/t Au and 0.50 to 1.50 g/t Ag
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RO-11-022 54.50 56.00 1.50 0.16 3.1
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RO-11-023 19.50 36.00 16.50 0.18 1.3
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RO-11-024 8.30 63.30 55.00 0.28 2.3
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including 9.80 39.20 29.40 0.39 1.0
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RO-11-026 6.35 108.60 102.25 1.06 13.0
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including 7.85 27.00 19.15 2.58 5.0
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RO-11-027 13.50 68.50 55.00 0.22 2.1
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including 18.00 34.50 16.50 0.45 2.3
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RO-11-028 31.50 147.30 115.80 0.18 3.8
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including 31.50 42.00 10.50 0.43 0.9
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including 130.80 139.80 9.00 0.43 4.6
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RO-11-029 31.00 68.50 37.50 0.19 1.2
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including 76.20 79.50 3.30 0.28 2.2
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including 113.50 123.00 9.50 0.12 0.2
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Holes RO-11-002, 006 and 025 had no anomalous values (greater than 0.10 g/t
Au)
(i) Results previously reported in News Release #08-2011, October 7, 2011
The higher grade gold and silver mineralization is hosted in strong silica altered volcaniclastic rocks and appears to be restricted to an area, around Hole RO-11-001 and Hole RO-11-026, measuring approximately 50 metres by 100 metres and extending to a vertical depth of approximately 50 metres. Hole RO-11-026, which returned 1.06 g/t Au and 13.00 g/t Ag over 102.25 metres, including 2.58 g/t Au and 5.00 g/t Ag over 19.15 metres, was drilled along strike across the mineralized sections confirming its continuity. The results also suggest that this area of higher grade mineralization is contained within an envelope of lower grade material, which averages approximately 0.30 g/t Au and 5.00 g/t Ag.
While the higher grade gold and silver mineralization appears to be restricted in the southern part of the vein swarm, widely-spaced drill holes up to 2-km north of this area returned anomalous gold values, greater than 0.10 g/t Au, over significant lengths. In addition, Hole RO-11-019 intersected anomalous Au, Ag, As, Zn and Mo values in the underlying sediments. This contact between the volcaniclastics and the sediments is fault bounded. The presence of mineralization within the sediments represents a new target for future drilling. Camino will determine the next step at the Rodeo Gold Project once it has compiled and interpreted all of the data.
Corporate Update
In 2012, Camino will look to create shareholder value by leveraging its strong management team and balance sheet, approximately CAD$3.5 million in the treasury, by further advancing its Maijoma Claim Group, a large grassroots precious and base metals prospect located in northern Chihuahua State, and its Mecatona Gold-Silver Project also located in Chihuahua State. In addition, the Company will look to acquire additional precious metals projects with attractive risk/reward ratios to add to its project portfolio.
Assaying from this program was completed by ALS Chemex 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 suiteusing 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 useof goldstandards, blanks and duplicates. Samples chain of custody was monitored and reported at every stage.
About Camino Minerals Corporation
Camino is a new, well-funded mineral exploration company that was formed in connection with Goldcorp's C$300-million acquisition of Canplats Resources Corp. Camino is led by Canplats' former management and is focused on precious and base metal projects located in Mexico. For more information on Camino's properties and associated agreement terms, please refer to the Company'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 National Instrument 43-101.
To receive Camino's news releases, contact Blaine Monaghan, V.P., Corporate Development, at info@caminominerals.com or (866) 338-0047.
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.
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.
Contacts:
Corporate Information:
Camino Minerals Corporation
R.E. Gordon Davis
Chairman and C.E.O.
Direct: (604) 629-8292
Investor Inquiries:
Blaine Monaghan
V.P., Corporate Development
Direct: (604) 629-8294 or Toll-Free: (866) 338-0047
info@caminominerals.com
www.caminominerals.com
