Nittetsu Mining Provides $1.5 Million Fifth Earn-in Payment for Camino's Los Chapitos Project
Nittetsu Mining Provides $1.5 Million Fifth Earn-in Payment for Camino's Los Chapitos Project
VANCOUVER, BC / ACCESS Newswire / June 5, 2025 / Camino Minerals Corporation (TSXV:COR)(OTC PINK:CAMZF) ("Camino" or the "Company") is pleased to announce the receipt of CAD$1.5 million from exploration partner Nittetsu Mining CO., Ltd. ("Nittetsu") to fully fund the upcoming exploration and drilling campaign at Camino's Los Chapitos Copper Project ("Los Chapitos" or the "Project") in Peru.
The funds constitute the fifth option to earn-in payment by Nittetsu under the terms of the Earn-in Agreement ("Agreement") that Camino entered into with Nittetsu in 2023 (see news release dated June 14, 2023). Under the terms of the Agreement, Nittetsu can secure a 35% project interest in Los Chapitos once it completes a total investment of CAD$10 million, contributed over three years. To date, Nittetsu has invested a total of CAD$8.5 million into the Los Chapitos copper project.
The exploration and drilling campaign will run from June 1, 2025, until November 30, 2025, and has been approved by the Camino - Nittetsu Joint Technical Committee. The funds will be used to advance and drill Camino's next high-priority targets, including the Katty prospect on the Diva Trend, where mineralization associated with copper oxide, sulfides, and copper wad have been identified at surface and previously drilled at depth. The campaign will also cover the newly identified Sombrero Blanco target, along the La Estancia fault, where a broad and continuous zone of copper oxide mineralization has been identified, and which remains a key target within Camino's strategic exploration at the Los Chapitos copper and silver exploration project in southern Peru.
Camino and Nittetsu are also working with consultants to model and investigate copper mineralization at depth. Historical drilling intercepts have demonstrated high-grade copper at depth including 4.5m @ 5.01% Cu from 245.5 m in drillhole DCH-012 (see news release dated May 26, 2020 for full details of the drill hole and corresponding drill program). Additional results of trenching and targeting will be released in the coming weeks, as the Company identifies its best drilling targets for 2025.
"Our relationship with Nittetsu has recently deepened with the joint acquisition of the advanced Puquios copper project in Chile (see news release dated April 17, 2025) which we are aiming to bring to production, with its primary RCA permit to start construction already in place. That relationship began at our Los Chapitos project in Peru, and we are thankful for the continued investment from Nittetsu in what we believe has the potential to become our next copper mine following Puquios. Nittetsu's continued commitment underscores our joint belief in Los Chapitos' potential to become a significant copper producer in Peru."
Figure 1. Geological mapping at the Los Chapitos copper project in May 2025.
Community Participation
On Friday, May 23, Camino held the Public Participation Workshop for the Second Amendment EIA for Los Chapitos. This step in the permitting process included active coordination with local authorities, community leaders, and residents from the Project's direct area. The workshop was supported by a comprehensive communication plan to encourage broad community engagement both in-person and online that facilitated feedback from community members, and reinforced Camino's commitment to public participation.
Figure 2. Camino representatives hosting the community participation workshop.
About Camino
Camino is a discovery and development stage copper exploration company. Camino is focused on developing copper producing assets such as Puquios, a construction-ready copper mine in Chile, and advancing its IOCG Los Chapitos copper project located in Peru through to resource delineation and development, and to add new discoveries. Camino has also permitted the Maria Cecilia copper porphyry project for exploration discovery drilling to add to its NI 43-101 resources. In addition, Camino has increased its land position at its copper and silver Plata Dorada project. Camino seeks to acquire a portfolio of advanced copper assets that have the potential to deliver copper into an electrifying copper intensive global economy. For more information, please refer to Camino's website at www.caminocorp.com.
Jose A. Bassan, MSc. Geologist, an independent geologist FAusIMM (CP) 227922, a qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the technical contents of this document. Mr. Bassan has reviewed and verified relevant data supporting the technical disclosure, including sampling and analytical test data.
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements: Certain disclosures in this release constitute forward-looking information. In making the forward-looking disclosures in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company. Forward-looking information in the release includes the prospectivity of future exploration work at Los Chapitos, future planned drilling programs, prospectivity for copper exploration in new targets; expectations for completion of earn-in expenditures under the Agreement with Nittetsu; potential for development of the Puquios Project and Los Chapitos Project into operating mining properties and the receipt of necessary authorizations and approvals. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release is subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information. Such risk factors include, among others, that actual results of the Company's exploration activities may be different than those expected by management, that the Company may not realize the benefits of joint ventures and/or strategic partnerships with respect to the Company's properties, that the Company may be unable to obtain or may experience delays in obtaining any required authorizations and approvals and the state of equity and commodity markets, as well as other risks and assumptions set forth in our continuous disclosure filings. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: Camino Minerals Corp
View the original press release on ACCESS Newswire
(W.Novokshonov--DTZ)
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