-- Camino Minerals (COR.V) announced Thursday the commencement of a drilling campaign at its Costa de Cobre district-scale IOCG copper discovery in Peru, previously referred to as the Los Chapitos copper project.
The company said it rebranded the Los Chapitos project to better reflect its "low-elevation coastal setting and strategic proximity to key infrastructure," including the proposed San Juan de Marcona Port Terminal, a major new port facility planned about 125 kilometres to the north at Marcona.
It said the Costa de Cobre project is advancing to the next stage of exploration and development as the company enters into a joint venture with Nittetsu Mining, under which Camino will serve as operator and hold a 65% interest, while Nittetsu will hold the remaining 35% interest.
Camino is also developing the permitted Puquios copper mine in Chile in a 50/50 joint venture partnership with Nittetsu targeting a finance package and construction commencement in mid-2026.
The company is targeting large-scale copper mineralization along major structural corridors, including the Diva and La Estancia fault systems, which extend over 8 km and 12 km, respectively, following multiple successful exploration campaigns. It said that recent drilling and surface programs confirmed the presence of extensive copper oxide mineralization associated with hydrothermal breccias and manto-style bodies.
"The current drilling campaign is expected to include approximately 1,100 meters of drilling, focused on the copper oxide in the first 100 m and sulphide at depth in Diva and La Estancia fault, and is aimed at expanding known mineralized zones and testing high-priority structural corridors," said Camino Chief Geologist, Peru, Orlando Pariona. "This next phase of drilling is designed to further define copper mineralization at Costa de Cobre."
The company's shares last traded Apr. 14, closing at $0.58 on the TSX Venture Exchange.