Contributor Since 2009
Camino Minerals (CVE:COR) said Tuesday that it has started a 6,500 metre diamond drill program at its 100% owned Rodeo gold project in Durango State, Mexico, which is expected to take four months to complete.
The Rodeo property, located 160 kilometres north of the city of Durango, covers 13,099 and is accessed by paved highway.
From 2004 to 2007, Canplats Resources, whose former management team now controls Camino, drilled a total of 3,449 metres in 25 holes at Rodeo, but tested only 600 metres of the 5 kilometre long epithermal system, with only 2 holes exceeding a depth of 200 metres, Camino said.
Despite this limited amount of drilling, a reverse circulation drill program by Canplats in 2004 confirmed the presence of near-surface gold mineralization over significant intervals, including hole BR-06, which returned 5.5 grams per tonne (g/t) of gold and 12.5 g/t silver over 28 metres.
Camino's 17-hole, 6,500 metre diamond drill campaign will test 4 kilometres of the known epithermal system.
The company said that a new induced polarization survey from March indicated good potential for high grade gold mineralization in veins and breccias, both along strike and at depth.
Camino is a new mineral exploration company that was formed in connection with Goldcorp's (TSE:G) $300-million acquisition of Canplats Resources. The company is led by Canplats' former management and is focused on precious and base metal projects located in Mexico.