Camino Minerals Corp. (
TSX: V.COR,
Stock Forum) announced that drilling is underway at the Maijoma project in Mexico.
Over 2,890 hectares in size, Maijoma is located 65 kilometres southeast of Ojinaga, in northeast Chihuahua State, and is easily accessed by paved and gravel roads.
According to the
Camino Minerals press release, the company plans to drill a minimum of four holes in the 1,000-metre reverse circulation drill program.
This is the first ever drill program to be carried out at Maijoma, which is prospective for the discovery of a zinc-lead-silver carbonate replacement deposits (CRDs) and skarns.
Exploration work has identified several large-scale areas of alteration and mineralization in a well-defined east-northeast trending structure that extends for more than eight kilometres. Maijoma is positioned near the junction of the east-northeast trending structure and a prominent northwest trending regional fault that extends north to the Shafter District.
In June, 2013, Camino carried out a ground gravimetric survey over a portion of the east-northeast trending corridor that hosts the Maijoma system. A total of 634 gravity points were taken covering an area of 490 hectares. The survey outlined two gravity anomalies, one to the northeast and one to the south. Both areas coincide with anomalous silver, lead and zinc values obtained in rock sampling.
Camino is a discovery-oriented mineral exploration company formed in connection with
Goldcorp.'s (
TSX: T.G,
Stock Forum) $300-million acquisition of Canplats Resources Corp.
On Thursday, Camino rose 40% and was trading at $0.035 a share. The company has a market cap of $3.4 million, based on 96.3 million shares outstanding.