April 17, 2025, Camino-Nittetsu Mining Chile SpA (“JVCO”) (an entity existing under the laws of Chile in which Camino Minerals Corp. and Nittetsu Mining Co., Ltd. each hold a 50% ownership interest) acquired a 100% ownership interest in Cuprum, which owns the Puquios Project, a construction-ready copper project that has obtained its primary RCA environmental permit to build and operate the mine.
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Summary:
The Puquios deposit is an example of a copper–molybdenum porphyry system that has been weathered and consists of an enrichment zone underneath outcropping copper oxide.
Hydrothermal alteration zones crop out in the area of the Puquios deposit. The gangue mineralogy defines these alteration types as advanced argillic, quartz–sericite and supergene argillic. The alteration type distribution is closely related to the contact zones between the Mesozoic sequences and the Lower Tertiary granodioritic intrusive rocks.
Primary copper–iron and molybdenum sulphide mineralization occur as veins and disseminations that were subsequently weathered and leached. Three mineralized zones were geologically outlined: the leached and oxide zone, the secondary enrichment zone, and the primary sulphide zone. The leached and oxide zone ranges in thickness from 0–80 m and contains black (e.g., neotocite, copper wad) and green (e.g., chrysocolla, copper-pitch, pseudo-malachite, atacamite) copper oxides. The copper oxide occurrences are mainly located in fractures and veins that are oriented approximately north–south and have a subvertical dip. The secondary enrichment zone typically is about 40 m in thickness, underlies the leached and oxide zone, and is associated with a strongly-developed quartz–sericite alteration. Chalcopyrite mineralization is replaced by secondary chalcocite. Chalcopyrite can also be partially enriched by chalcocite. The lowermost mineralized zone is the primary sulphide zone, consisting of pyrite, chalcopyrite and molybdenite. Chalcopyrite is more dominant in the zone centre than on the periphery. The primary sulphide zone is associated with poorly-developed quartz–sericite alteration. Potassic feldspar and potassic biotite alteration may be present.
The major mineralized zones include:
• Leached and oxidized zone: overlies the primary sulphide zone. Moderate to intense supergene argillic alteration superimposed over silica–potassic to advanced argillic alteration types. Mineralization consists of jarosite, goethite, hematite, copper wad and copper-pitch, chrysocolla, malachite, atacamite and copper-bearing clays.
• Secondary enrichment zone: located under the base of the leached and oxidized zone and above the top of the occurrence of carbonates and characterized by phyllic alteration. Mineralization comprises dusty chalcocite rimming pyrite and chalcopyrite. At depth, the zone is dominated by chalcocite–covellite rimming pyrite and chalcopyrite grains. Molybdenite occurs in fractures and veins.
• Primary sulphide zone: zone located under the base of the carbonates. Characterized by silicic–potassic alteration. Mineralization is chalcopyrite dominant. Molybdenite occurs in fractures and veins.
The surface copper anomaly has dimensions of approximately 1,200 x 400 m. The mineralized area captured within the resource estimate has overall dimensions of approximately 1,250 x 500 m. It has been drilled, on average, up to 250 m in depth.
The oxide (leached) zone ranges in thickness from 0–80 m. Supergene argillic alteration overprints earlier hypogenerelated alteration. Copper oxides are classified as black (e.g., neotocite, copper wad) or green (e.g., chrysocolla, copperpitch, pseudo-malachite, atacamite).
A zone of supergene enrichment, generally 40 m thick, underlies the leached zone. Chalcopyrite mineralization is replaced by secondary chalcocite. In the base of this zone, transitional forms may occur, such as chalcopyrite partially enriched by chalcocite. The transitional zone is irregular and discontinuous. Covellite may be present toward the base of this zone.
The lowermost zone is the primary sulphide zone, consisting of pyrite and chalcopyrite mineralization, and is encountered at average depths of 100–150 m. Molybdenite occurs in veinlets and fractures. The zone generally exhibits low-intensity quartz–sericite alteration and includes potassic feldspar and potassic biotite alteration.