Camino Minerals Corporation: Drilling Underway at El Secreto Gold, Silver and Copper Project
November 19 2012 - 8:30AM
Marketwired
Camino Minerals Corporation ("Camino" or the "Company") (TSX
VENTURE:COR) is pleased to announce that drilling is underway at
the El Secreto Gold, Silver and Copper Project ("El Secreto" or the
"Project"), located in Sinaloa State, Mexico. The 2,000 metre
reverse circulation drill program commenced over the weekend and is
expected to take up to four weeks to complete. This is the first
ever drill program to be carried out at El Secreto.
Drilling initially will focus on two target areas: the El
Secreto Zone and the Carrizal Area. The El Secreto Zone, located in
the northeastern part of the property, was delineated by a soil
geochemical survey, which outlined a 1.5 km by 2 km area of
anomalous gold and silver values. Rock samples collected from the
El Secreto Zone have returned values as high as 13.3 g/t gold and
187 g/t silver. The Carrizal Area, located 6-km to the west of the
El Secreto Zone, contains a number of mineralized veins. Rock
samples collected from the Carrizal Area have returned values as
high as 8.8 g/t gold, 316.0 g/t silver and 5.1% copper.
Northeast-trending epithermal veins that cross cut granodioritic
intrusions are present at both the El Secreto Zone and the Carrizal
Area. The veins vary from one to five metres in thickness and from
several hundred metres to more than one kilometre in length.
El Secreto is situated along the western edge of the Sierra
Madre Occidental in a structural setting similar to Primero Mining
Corporation's San Dimas Mine, located 40-km to the east. San Dimas
produced 102,000 gold equivalent ounces in 2011. Primero recently
announced plans (see Primero's news release dated October 15, 2012)
to increase mine throughput from the current 1,925 tonnes per day
to 2,500 tonnes per day by the end of the first quarter of 2014.
This expansion will allow for an average production target of
160,000 gold equivalent ounces per year over the next five years.
The San Dimas district, which has been mined since 1757, contains a
series of epithermal gold-silver veins. Historical production from
the San Dimas district is estimated at 11 million ounces of gold
and 582 million ounces of silver.
"The structural setting, proximity to San Dimas and exploration
results received to-date have only reinforced our belief that El
Secreto is highly prospective for the discovery of epithermal vein
systems," said Gordon Davis, Camino's Chairman and CEO. "We look
forward to reporting the results of the drill program in the new
year."
About the El Secreto Gold, Silver and Copper 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 km 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
gold-silver vein systems. The Project has never been subject to
modern exploration techniques or drilling. 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. 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 projects,
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 NI
43-101.
To receive Camino's news releases, contact Blaine Monaghan,
V.P., Corporate Development, at info@caminominerals.com or (866)
338-0047.
This news release does not constitute an offer to sell or a
solicitation of an offer to sell any of the securities in the
United States, The securities of Camino described herein have not
been and will not be registered under the United States Securities
Act of 1933, as amended (the "U.S. Securities Act") or any state
securities laws and may not be offered or sold within the United
States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
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: Camino Minerals Corporation - Corporate Information
R.E. Gordon Davis Chairman and C.E.O. (604) 629-8292 Camino
Minerals Corporation - Investor Inquiries Blaine Monaghan V.P.,
Corporate Development (604) 629-8294 or Toll-Free: (866)
338-0047info@caminominerals.com www.caminominerals.com