Camino turned 24 million shares this week!It took 3 years to make a double bottom on the chart. The old saying is “Bigger the base bigger the space”. Which means we could have a long run here when we break the trend. With $3.8 million in the bank and 100% ownership of all their properties Camino looks intriguing at these prices. A clean balance sheet with no debt and $9.8 million in assets.
We are still at the bottom of the charts trading range from September before they left the stock drift a bit. Volume was surprising high today considering the USA holiday. Next week we will start trending upwards awaiting fresh news. News below that turned 24 million shares in 3 days this week.
- Camino Minerals Corporation (COR) announced the high solubility results from the new Lourdes Zone at its Los Chapitos Property in Peru
- Total solubilities in two notable drill holes were 92 per cent and 87 per cent
- This confirmed the continuity of oxide mineralization to a depth of at least 100 metres in the new zone
- The company believes the project holds potential for large sulphide-mineralized bodies
- Camino Minerals Corporation (COR) is up 120 per cent, trading at $0.05 per share as of 3:29 p.m. EST
Camino Minerals Corporation (COR) announced the high solubility results from copper oxide intercepts in the Lourdes Zone at its Los Chapitos Property, Peru.
The near-surface copper oxide minerals in drill holes DCH-97 and DCH-80 had acid solubilities of 83 per cent and 79 per cent. Total solubilities in these holes were 92 per cent and 87 per cent. This confirmed the continuity of oxide mineralization to a depth of at least 100 metres in the new zone.
Jose Bassan, Chief Geologist for Camino, commented,
“The results of the geochemical analysis were consistent with mineralization described in drilling logs by Camino geologists… [the company will] continue exploring our Los Chapitos property for surface evidence along large structural faults that crosscut the property.”
Lourdes is one of several new zones identified to target additional drilling campaigns to expand known copper mineralization at Los Chapitos for a proposed copper oxide heap-leach mine.
Jay Chmelauskas, CEO of Camino, added,
“A copper oxide heap-leach mine is generally the easiest and most cost-effective method to start development of a copper project… As we permit new areas for drilling at Los Chapitos, we are finding more near-surface copper mineralization amenable to our development vision.”
The company also believes the project has the potential for large sulphide mineralized bodies as the second phase of its development strategy.
Camino Minerals Corporation (COR) is up 120 per cent, trading at $0.05 per share as of 3:29 p.m. EST.