[Marinir] {Disarmed} Management team that sold last company to Goldcorp is at it again
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Mon Oct 22 16:16:16 CEST 2012
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DRILLING TO COMMENCE AT EL SECRETO GOLD, SILVER AND COPPER PROJECT
Camino Minerals Corp. (TSX-V: COR
http://www.stockwatch.com/Quote/Detail.aspx?action=go&symbol=COR®ion=C&lookup=symbol&snapshot=default
) 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.
For further information, contact:
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
Toll-Free: (866) 338-0047
info at caminominerals.com
To receive Camino's news releases, contact Blaine Monaghan, V.P.,
Corporate Development, at info at 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.
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.
For more information about this service, please see:
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