Camino Minerals (COR.V) has now reported on the assay results for an additional five holes which have been drilled at the Adriana zone and an additional two holes from the Katty zone, which are part of the Los Chapitos copper project in Peru.
Three of the Adriana holes were drilled from a pad approximately 150 meters towards the southeast from hole 24 (where the company intersected 82.5 meters of 1.31% copper, including a 33 meter interval containing in excess of 2% copper) and as these three holes intersected for instance 70 meters at 1.14% copper (including 12 meters at 3.16% copper), 40 meters at 0.92% copper and 91 meters of 0.76% copper, it’s now definitely starting to look like Camino has outlined the ‘sweet spot’ of the Adriana zone.
According to the company, the mineralized envelope is currently 400 meters long, 150 meters wide and 300 meters deep, and assuming an average density of 2.85, our back of the envelope calculation indicates a total tonnage of just over 50 million tonnes. Even if we would assume an average grade of 0.75% copper, we are talking about in excess of 800 million pounds of copper, right there.
Copper stories have been hot lately, and it looks like Camino is just in time to join the party.