TSX Venture Symbol: COR
VANCOUVER, Sept. 12, 2017 /CNW/ - Camino Minerals
Corporation ("Camino" or the "Company") (COR: TSX-V) is pleased to
report it has received notice that its Declaration de Impacto
Ambiental ("DIA"), or Environmental Assessment, has been
approved for a drill program on the Atajo Zone of its Los Chapitos
project ("Chapitos"), located in southern Peru.
The DIA was completed as part of the permit application for 20
drill platforms at the Atajo Zone, which is located on a separate
trend 6 kilometers southwest of the Adriana Zone. In
addition, the Company has filed with the Public Registry a 2 year
access agreement negotiated with the Community of Atiquipa
("Atiquipa") for all exploration activities on community lands,
which cover the western half of Chapitos, including the Atajo
Zone. The agreement commits the Company to fund community
development projects of approximately US$30,000 in year 1 and US$35,000 in year 2. These documents, along
with an Archeological Certificate, are in the process of being
submitted to the Mining Ministry for authorization to initiate
field activities.
On July 25, 2017, the Company gave
notice for the acceleration of the expiry date of the outstanding
share purchase warrants dated February
14, 2017. Each share purchase warrant was exercisable
into one additional common share of the Company at a price of
$0.25 per share until February 14, 2019 (the "Warrants"), subject to
earlier expiry upon satisfaction of certain conditions. The
expiry date of the Warrants was accelerated to September 11, 2017. All of the available
10,967,500 warrants have been exercised, generating proceeds to the
Company of $2,741,875. The
Company currently holds cash and cash equivalents of approximately
$4,800,000.
Since diamond drilling began in mid-May at Chapitos, the Company
has completed over 10,000 meters of drilling in 35 holes.
Additional drilling is underway at both the Adriana and Katty
Zones. A drill will be mobilized to the Atajo Zone as soon as
the authorization to initiate activities is granted, which is
expected in October.
Kenneth C. McNaughton, M.A.Sc.,
P.Eng., is the Qualified Person (QP) responsible for the Chapitos
project.
Updated drill sections and a summary presentation can be found
on the Company's website at www.caminominerals.com.
Camino is a discovery-oriented mineral exploration company. The
Company is focused on the acquisition and development of high-grade
copper and precious metal projects. For more information, please
refer to Camino's website at www.caminominerals.com.
Cautionary Note Regarding Forward-Looking Statements and
Information
This News Release contains "forward-looking information" and
"forward looking statements" within the meaning of applicable
Canadian and United States
securities legislation. Statements contained herein that are not
based on historical or current fact, including without limitation
statements containing the words "anticipates," "believes," "may,"
"continues," "estimates," "expects," and "will" and words of
similar import, constitute "forward-looking statements" within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995.
Forward-looking information may include, but is not limited to,
information with respect to our planned exploration activities, the
adequacy of our financial resources, the estimation of mineral
reserves and resources, the results of future exploration and
drilling. Wherever possible, words such as "plans",
"expects", "projects", "assumes", "budget", "strategy",
"scheduled", "estimates", "forecasts", "anticipates", "believes",
"intends", "targets" and similar expressions or statements that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved, or the negative forms of
any of these terms and similar expressions, have been used to
identify forward-looking statements and information.
Forward-looking information is subject to a variety of known and
unknown risks, uncertainties and other factors that could cause
actual events or results to differ from those expressed or implied
by the forward-looking information, including, without limitation,
those risks identified in the Company's annual disclosure
materials, filed with the securities regulatory authorities in
Canada and available at
www.sedar.com. Readers are encouraged to read these
materials. Prospective investors should not place undue
reliance on forward-looking information.
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.
SOURCE Camino Minerals Corporation