Camino Minerals Corp. said June 1 that it completed its previously reported nonbrokered private placement for gross proceeds of C$5.0 million, comprising 5.3 million units at 95 cents apiece.

The company will use the proceeds to finance drilling at the Los Chapitos copper project in southern Peru and for working capital.

Phase-two drilling targeting the Adriana and Katty zones at Los Chapitos started in mid-May and will now total at least 3,000 meters of diamond drilling.