Camino Minerals Corporation: El Rincon Gold Project Drill Results; Diamond Drill Program Planned at the Rodeo Gold Projectadmin
Camino Minerals Corporation has received the results from the 16 hole reverse circulation drill program, totaling 2,932.5 metres, completed at the El Rincon gold project, located in Durango State, Mexico.
Six of the 16 holes intersected several mineralized horizons ranging from 1.5 to 16.5 metres in thickness. Mineralization in the upper horizon was associated with sugary and glassy smoky quartz veinlets hosted in a strongly oxidized dacite porphyry. In the lower horizon, mineralization was associated with quartz veinlets as well as finely disseminated pyrite within clay to propylitic altered dacite porphyry intruding Mesozoic sediments.
This was the first drill program to be carried out by Camino at El Rincon, with drilling focused in and around an area known as the Ventana Zone, located in the southwest area of the property. El Rincon remains highly prospective as the recently completed drill program tested just a fraction of the 12,946 hectares (50 square miles) property, which is situated along the same northeast-trending structural corridors as Argonaut Gold’s El Castillo gold mine, located 3-km to the west, and Silver Standard’s San Agustin deposit.
Camino is currently permitting the Rodeo gold project for an extensive diamond drill program and expects drilling to be underway sometime in the second quarter of 2011.
Canplats Resources Corp. (“Canplats”) drilled a total of 3,449 metres in 25 holes at Rodeo from 2004-2007 before concentrating its activity on the Camino Rojo discovery. Past drilling by Canplats tested approximately 600 metres of the 5-kilometre long epithermal system and only two holes exceeded a depth of 200 metres. The limited drilling to date and the new I.P. data (see news release dated March 7, 2011) indicates good potential for high-grade gold mineralization in veins and breccias along strike and to depth.
Rodeo hosts gold and silver mineralization related to a low sulfidation epithermal system that is controlled by major north-northwest and east-northeast trending fault systems. Reverse circulation drilling by Canplats in 2004 confirmed the presence of near-surface gold mineralization, hosted in quartz rich structures, over significant intervals, hole BR-06 returned 5.5 g/t Au and 12.5 g/t Ag over 28 metres, including 35.6 g/t Au and 37.0 g/t Ag over 1 metre. Subsequent diamond drilling in 2007 returned broad mineralized intervals, including 0.23 g/t Au and 8.68 g/t Ag over 103.1 metres (hole BRD-002).
The 100% owned Rodeo gold project covers 13,099 hectares (51 square miles) and is located 160 kilometres north of the city of Durango, Durango State, Mexico. The property is accessed by paved highway.