Camino Corp. (OTCMKTS:CAMZF) (TSXV:COR) Gets Drill Permits for High-Grade: Stock Flat
Shares of Camino Corp. (OTCMKTS:CAMZF) (TSXV:COR) have been trading within a narrow range over the past few sessions.
Market Stats
On Tuesday, CAMZF stock ended flat at $0.0677 with more than 22K shares, compared to its average volume of 3.7K shares. The stock moved within a range of $0.0677 – 0.0677 after opening trading at $0.0677.
Camino Granted Drill Permits to Target High-Grade, Near Surface Copper Mineralization at Los Chapitos, Peru
Camino Corp. (OTCMKTS:CAMZF) (TSXV: COR) has officially received additional drilling permits at its Los Chapitos copper project near the coastal town of Chala, Peru. The approval has been granted from the General Directorate of Mining Environmental Affairs (DGAAM) of the Ministry of Energy and Mines (MEM) for the Declaration of Environmental Impact (DIA Lourdes) environmental instrument. It allows for 33 drill holes distributed on 11 platforms, 9.6 km of access roads and two water storage ponds.
Mineralization at Chapitos is structurally controlled, while more controlling structures are being discovered with copper mineralization along the main Diva fault. Other trends include Atajo and Lagunillas providing district-scale copper exploration potential.
Drilling targets will open up at a couple of new copper oxidized zones: the breccia zone at Condori (grades up to 3.94% Cu and 24ppm Ag in artisanal mining samples) and a copper manto zone at Lourdes (grades up to 4.16% Cu and 26.9ppm Ag in channel samples).
The manto mineralization has similar characteristics to the discovery drill hole that was made at the Adriana outcrop in 2017. As per Jay Chmelauskas, CEO of Camino, the company expects a similar drilling permit DIA approval at the new Maria Cecilia copper porphyry project in the coming weeks. Thus, they can prioritize drilling at the beginning of 2022 at two world-class copper exploration projects.
Key Quote
‘The new permit at Los Chapitos opens up drilling targets at two new copper oxidized zones: the breccia zone at Condori and a copper manto zone at Lourdes. The manto mineralization has similar characteristics to the discovery drill hole that was made at the Adriana outcrop in 2017’, said Jay Chmelauskas, CEO of Camino.
Traders Corner
CAMZF stock is trading above the 10-Day and 20-Day Moving averages of $0.0665 and $0.0653 respectively. The stock is trading in neutral zone with the RSI at 53.
