Camino Minerals (CVE:COR) announced Tuesday it will begin its diamond drilling program at its Rodeo gold project, located 160 kilometres north of Durango, Mexico.
The Vancouver, B.C.-based company said it has received the required permits from the Ministry of Environment and Natural Resources to begin its 6,500 metre drilling program on the 13,099 hectare property.
Camino, which was formed following Goldcorp's $300 million acquisition of Canplats Resources Corp, said it will focus its 17 hole drilling program on four kilometres of the known epithermal gold system.
Between 2004 and 2007, Canplats drilled a total of 3,449 metres in 25 holes at the Rodeo project, but only tested 600 metres of the five kilometre long epithermal system. Only two of these holes exceeded a depth of 200 metres.
In 2004, Canplats confirmed the presence of near-surface gold mineralization, including 5.5 grams per tonne (g/t) of gold and 12.5 g/t of silver over 28 metres in hole BR-06.
Camino said its Induced Polarization survey, the results of which were released in March, found a number of anomalous trends at its Rodeo property, indicating good potential for high-grade gold mineralization.
Separately, the company also reported that field crews are arriving at the Los Volcanes concession to conduct an Induced Polarization survey of the area, which is part of Camino's 100% owned Maijoma claim, located in Chihuahua State, Mexico.
The Maijoma claim covers 83,900 hectares in size, with the Los Volcanes concession covering approximately 19,000 hectares. The survey, which will cover 36 line-kilometres, is targeting an area of alteration situated over a five kilometre stretch along the Maijoma fault line.
Camino, whose shares on the TSX Venture Exchange were trading at $0.29 as of Tuesday morning, said it plans to define drill targets at Los Volcanes that can be tested later in the year.