RSS UpdatesCompany Information for Camino Minerals Corp.
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 TSX.V; COR
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Company Statement
Camino Minerals Corp. is a new mineral exploration company that was formed in connection with Goldcorp Inc.'s acquisition of Canplats Resources Corp. ("Canplats"). Camino is led by Canplats' former management, has approximately C$10-million in the treasury and is focused on precious and base metal projects located in Mexico.
Current Operations
El Rincon Property
Camino Minerals holds three projects (Rodeo, El Rincon and Mecatona) located within the Central Mexican Silver Belt, which has produced more than 3.3 billion ounces of silver and 5.8 million ounces of gold, and a large project (Maijoma) which covers a newly-recognized mineral district in northeast Chihuahua State.
The El Rincon gold project is located 120 kilometers northeast of the city of Durango, Mexico. It is comprised of one mineral claim covering 12,946 hectares (50 square miles) and is easily accessed by paved highway.
The El Rincon property is located along the same northeast-trending structural corridor as the El Castillo mine, located 10 kilometers to the west and currently in production for Argonaut Gold (proven and probable reserves of 752,000 ounces gold, with measured and indicated resources of 1,180,000 ounces gold), and Silver Standard's San Agustin deposit (indicated resources of 1.59 million ounces gold, with inferred resources of 1.06 million ounces gold). Initial work at El Rincon has identified ground magnetic geophysical anomalies which are coincident with gold biogeochemical anomalies.
Camino Minerals holds a 100% interest in the El Rincon property, subject to an underlying finder's fee with La Cuesta International (a privately owned company whose two principal partners are Perry Durning and F.L. "Bud" Hillemeyer) and back-in rights held by Silver Standard Resources Inc. Upon the completion of US$1.5 million in project expenditures, Silver Standard has the one-time right to acquire a 51% interest in the El Rincon project by funding US$3 million in exploration expenditures.
Maijoma and El Alamo Properties
Camino Minerals holds three projects (Rodeo, El Rincon and Mecatona) located within the Central Mexican Silver Belt, which has produced more than 3.3 billion ounces of silver and 5.8 million ounces of gold, and a large project (Maijoma) which covers a newly-recognized mineral district in northeast Chihuahua State.
The Maijoma claim group is located 65 kilometers southeast of Ojinaga in northeast Chihuahua State. The property is comprised of three contiguous claim groups (Maijoma, Aqua Loca/Los Volcanes, and El Alamo) that cover 83,985 hectares (324 sq. miles). The project is accessed by gravel roads.
The Maijoma property covers the recently-recognized "Maijoma Structural Break" for more than 60 kilometers. Initial work has identified several large-scale areas of alteration and mineralization, thought to represent the high-level portions of major hydrothermal systems cutting a thick, favourable sequence of Cretaceous limestones. Initial geochemical sampling has returned elevated base and precious metals values, while preliminary IP surveying has outlined several chargeability anomalies.
The Maijoma property is considered to be very prospective for the discovery of high-grade epithermal veins as well as carbonate replacement (veins, mantos and chimneys) and skarns.
Camino Minerals holds a 100% interest in the Maijoma property, subject to underlying finder's fees with La Cuesta International (a privately owned company whose two principal partners are Perry Durning and F.L. "Bud" Hillemeyer).
Mecatona Properties
Camino Minerals holds three projects (Rodeo, El Rincon and Mecatona) located within the Central Mexican Silver Belt, which has produced more than 3.3 billion ounces of silver and 5.8 million ounces of gold, and a large project (Maijoma) which covers a newly-recognized mineral district in northeast Chihuahua State.
The Mecatona gold prospect is located 20 kilometers south of the city of Parral and is comprised of 7 mineral claims covering 5,300 hectares (20.5 square miles). The property is easily accessed by paved and gravel roads.
In the Mecatona district, basal Lower Cretaceous sediments are overlain by Tertiary volcanic and associated minor granitic intrusive rocks. The property geology is dominated by Tertiary flow-banded rhyolites (rhyodacites) with minor rhyolitic flow breccias.
Preliminary mapping and rock sampling on the Mecatona property has outlined a broad north-northwest trending vein swarm and alteration corridor which has yielded strong silver and base metal lithogeochemical anomalies.
Camino Minerals holds a 100% interest in the Mecatona property, subject to an underlying finder's fee with La Cuesta International (a privately owned company whose two principal partners are Perry Durning and F.L. "Bud" Hillemeyer) and back-in rights held by Silver Standard Resources Inc. Upon the completion of US$1.5 million in project expenditures, Silver Standard has the one-time right to acquire a 51% interest in the El Rincon project by funding US$3 million in exploration expenditures.
Rodeo Property
Camino Minerals holds three projects (Rodeo, El Rincon and Mecatona) located within the Central Mexican Silver Belt, which has produced more than 3.3 billion ounces of silver and 5.8 million ounces of gold, and a large project (Maijoma) which covers a newly-recognized mineral district in northeast Chihuahua State.
The Rodeo gold project is located 150 kilometers north of the city of Durango, Mexico and is comprised of two claims covering 13,099 hectares (51 square miles). The property is easily accessed by paved highway.
The Rodeo property hosts gold and silver mineralization related to a high-level epithermal system that is controlled by a major northwest-trending fault system. Reverse circulation drilling in the West Vein Swarm in 2004 confirmed the presence of near-surface gold mineralization over significant intervals, including 5.94 grams of gold per tonne over 27 meters in drill hole BR-06. Subsequent diamond drilling in 2007 intersected broad intervals of low-grade gold values, including 0.23 grams of gold and 8.68 grams of silver per tonne over 103.1 metres in drill hole BRD-002.
To date, drilling at Rodeo has only sparingly tested a 2 kilometer portion of the Rodeo epithermal system, and only two holes have been drilled to a depth of more than 200 meters. This drilling has not adequately evaluated the potential for higher-grade vein, replacement and manto-type mineralization at depth. Rock geochemical anomalies have been established for an additional 2 kilometers of the Rodeo trend, while the full extent of the Rodeo fault and other major regional faults crossing the property have yet to be investigated.
Camino Minerals holds the Rodeo project under a lease with an option to purchase a 100% interest with La Cuesta International (a privately owned company whose two principal partners are Perry Durning and F.L. "Bud" Hillemeyer). Silver Standard Resources Inc. also holds a right of first offer, which allows Silver Standard the first opportunity to acquire any interest in the Rodeo property that Camino intends to dispose of.
Geographical Spread
Mexico
Board of Directors and Key Management
| Directors | |
| R.E. Gordon Davis | Chairman, CEO and Director |
| James W. Tutton | Director |
| David Watkins | Director |
| Gordon Bogden | Director |
| Management | |
| Bruce Youngman | President and COO |
| Peter de Visser | Chief Financial Officer |
| Richard Dufresne | VP, Exploratrion |
| Blaine A. Monaghan | VP, Corporate Development & Corporate Secretary |
| Tom Turner | Senior Consultant |
| W. Perry Durning | Consultant |
| F. L. "Bud" Hillemeyer | Consultant |
Company Address999 West Hastings Street, Suite 1510
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CapitalShares issued: 64,265,432
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Related News
09/06/10 - Canplats Team Which Discovered Camino Rojo, Acquired Earlier This Year By Goldcorp, Intend To Play Same Game Again At Camino MineralsMost Recent Statement
15/06/10 - Exploration Commences at Three Gold Projects27/04/10 - Camino Minerals Corporation Grants Stock Options
22/04/10 - Camino Minerals Corporation Shares Commence Trading on the TSX Venture Exchange
21/04/10 - Camino Minerals Corporation to List on TSX Venture Exchange; Shares to Begin Trading April 22, 2010