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Be the first with the news that moves the market- Camino (COR) has launched a drilling program at its Los Chapitos copper project in southern Peru
- The company intends to drill 3,000 metres in an initial hole, targeting near-surface mineralisation at the Carlotta target
- This work builds on more than 19,000 metres of drilling work that was previously completed in the area in 2017 and 2018
- Diva West, which was mapped and sampled in July this year, will also be tested, along with a south-east extension of the Diva Fault
- Camino (COR) is currently up 12.5 per cent to C$0.18 per share
Camino (COR) has launched a drilling program at its Los Chapitos copper project in southern Peru.
Located in the Peruvian Iron Oxide Copper Gold belt, the property covers 22,500 hectares and hosts a total of 39 claims.
The company announced in early September that it had contracted AK Drilling International to carry out the work, which will include an initial 3,000-metre hole at the Carlotta target.
This has been designed to test near-surface oxide mineralisation, and builds on more than 19,000 metres of drilling previously completed in the area in 2017 and 2018.
Additional drilling will focus on the Diva West Zone, which was the subject of mapping and sampling in July this year. The program delineated significant areas of andesite and silica breccia, with values of up to 2.1 per cent copper and 45 grams per tonne of silver.
It’s thought that this region of mineralisation extends to the south-east along the Diva Fault, where three drill holes have also been planned to test the continuity of mineralisation.
Jay Chmelauskas, President and CEO of Camino, noted that the first drill hole at the Carlotta target lies roughly 400 metres of another discovery that was made at the Adriana outcrop in 2017.
“The two outcrops look similar and show oxidised copper hosted in Chocolate Formation volcanics.
“We are working towards expanding mineralisation to define a maiden resource on and along the Diva structure, and at the same time begin to determine the potential size of the Los Chapitos IOCG system,” he added.
Camino (COR) is currently up 12.5 per cent to C$0.18 per share at 3:01pm EDT.
