Camino Minerals Corporation has made significant progress in its exploration efforts at the Los Chapitos copper project in Peru. The company, listed on TSXV and OTC PINK, recently provided updates on its Summer 2024 geological mapping campaign, undertaken in collaboration with its exploration partner Nittetsu Mining Co., Ltd.
The latest mapping programme has revealed five new prospective copper oxide areas along the La Estancia trend, a 12-kilometre fault line that runs through Camino’s claims. This discovery follows Rio Tinto’s recent staking of adjacent claims earlier this year. As a result of these findings, the company anticipates commencing diamond drilling as early as December 2024.
Among the highlights of the exploration campaign is the identification of the Pampero target, which has shown promising mineralisation with copper grades of up to 3.8% and silver concentrations reaching 4.0 parts per million (ppm). Additionally, the Pilar Maria target recorded impressive copper oxide grades of 7.3% and 54 ppm silver, while Sombrero Blanco also displayed significant copper oxide deposits.
Camino’s ongoing efforts align with its corporate strategy to enhance production capabilities, particularly following its recent agreement to acquire the Puquios construction-ready copper mine in Chile, which was announced earlier this month.
“Los Chapitos is target-rich for copper discoveries,” said Jay Chmelauskas, Camino’s CEO. “We have identified multiple new high-priority copper exploration areas through our Summer 2024 programme. Furthermore, we believe our Los Chapitos copper exploration in Peru is next in line for development after the Puquios copper mine in Chile.”
The geological mapping campaign focused on evaluating the potential of various targets, particularly at La Estancia, where recent 1:2,000 scale mapping unveiled new minor faults controlling surface mineralisation. The Pampero site is notable for its copper oxides and sulphides, including malachite and chrysocolla, in areas exhibiting strong alteration.
At the Sombrero Blanco target, mineralised zones were identified on both sides of the La Estancia fault, suggesting a structural relationship with the mineralisation. New copper occurrences were detected through trenching, with evidence of hydrothermal breccias and oxide minerals.
The Pilar Maria target, situated within the previously known Diva Trend, was mapped at a 1:2,000 scale and showcased robust copper geochemical signatures. Copper grades at Pilar Maria have reached an impressive 7.3%, indicating a strong potential for mineralisation.
With over 25,000 metres of drilling already completed at the Los Chapitos claims, Camino is now directing its focus toward uncovering new satellite deposits along the La Estancia fault and the associated north-south trending structures. Studies of other Iron Oxide Copper Gold (IOCG) districts suggest that a significant portion of metallic endowment in these systems is typically located within 2 km of structural controls.
The company’s exploration programme continues to highlight the promising potential of Los Chapitos, with plans to further investigate the newly identified targets and enhance the understanding of the area’s geology and mineralisation.
In summary, Camino Minerals Corporation’s exploration campaign has yielded significant results at the Los Chapitos copper project, bolstering the company’s position in the mining sector as it prepares for future drilling operations.
