Camino Minerals Corporation: Drilling to Commence at El
Camino Minerals Corporation: Drilling to Commence at El Secreto Gold, Silver and Copper Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/22/12 -- Camino Minerals Corporation ("Camino" or the "Company") (TSX VENTURE:COR) is pleased to announce that it has selected Major Drilling Group International Incorporated to carry out a 2,000 metre reverse circulation drill program at the El Secreto Gold, Silver and Copper Project ("El Secreto" or the "Project"), located in Sinaloa State, Mexico. This will be the first ever drill program to be carried out at El Secreto. Drilling is expected to commence within the next several weeks.
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 79,000 ounces of gold and 4.6 million ounces of silver in 2011. San Dimas hosts probable reserves of 584,000 ounces gold and 34,700,000 ounces of silver (3.785 mt @ 4.8 g/t gold, 290 g/t silver), indicated resources of 678,000 ounces of gold and 40,630,000 ounces of silver (3.193 mt @ 6.6 g/t gold, 400 g/t silver) and inferred resources of 866,000 ounces gold and 67,500,000 ounces of silver (6.865 mt @ 4.0 g/t gold, 300 g/t silver). 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.
Since acquiring the option to earn up to an 80-per-cent interest in El Secreto (see April 5, 2012, news release), Camino has collected more than 1,500 soil samples, 600 rock samples and built more than 9 kilometres of roads to access drill sites. This extensive and systematic approach to exploration has resulted in the discovery of 10 previously unknown anomalous gold, silver and copper target areas, "In a very short period of time we have taken El Secreto from a geological concept to a potential new discovery opportunity," said Gordon Davis, Camino's Chairman and CEO. "Our exploration team has done a fantastic job advancing the project to the drill stage and we eagerly anticipate the start of drilling."
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 email@example.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 no t 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 firstname.lastname@example.org www.caminominerals.com