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Camino Minerals Corp. is a new mineral exploration company that was formed in connection with Goldcorp Inc.'s acquisition of Canplats Resources Corp. ("Canplats"). Camino is led by Canplats' former management, has approximately C$10-million in the treasury and is focused on precious and base metal projects located in Mexico.
Camino Minerals completes diamond drilling at Rodeo, hits 5.99 g/t gold over 31.2 metres
Camino Minerals Corp (CVE:COR) announced Friday that it has completed its diamond drilling campaign on its Rodeo gold project, located in Durango State, Mexico, with early results returning high gold grades.
The company said hole RO-11-001 intersected 5.99 grams per tonne (g/t) of gold and 7.94 g/t silver over 31.2 metres. The intercept was part of a 207.3 metre-long interval grading 1.06 g/t gold and 12.94 g/t silver.
This hole is located within a near-surface mineralized zone previously identified by reverse circulation drilling.The core recovered from the hole allowed the company to identify the different veining phases and breccias carrying the mineralization, Camino said.
The diamond drill program, totaling 6238.2 metres in 29 holes, finished earlier this week and tested a north, north-west trending 5-kilometre long epithermal system. Additional assay results from 19 remaining holes are pending.
Other notable results from the program yielded so far include 0.25 g/t gold and 2.94 g/t silver over 52.4 metres in hole RO-11-005, and 0.41 g/t gold and 1.66 g/t silver over 55.85 metres in hole RO-11-013.
The Rodeo Gold project, located 160 kilometres north of the city of Durango, covers 13,099 hectares and is accessed by paved highway.
From 2004 to 2007, Canplats Resources Corp, now owned by Goldcorp (TSE:G), drilled a total of 3,449 metres in 25 holes at Rodeo. However, Canplats only tested 600 metres of the 5-kilometre long epithermal system, with only two holes exceeding a depth of 200 metres, before concentrating its activity on the Camino Rojo discovery.
Hole RO-11-001 twinned reverse circulation hole BR-06, which was drilled by Canplats in 2004, returning 5.43 g/t gold and 13.27 g/t silver over 30 metres.
Camino is a new mineral exploration company that was formed in connection with Goldcorp's $300-million acquisition of Canplats. Camino is led by Canplats' former management and is focused on precious and base metal projects located in Mexico.
