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Chakana Copper Corp.
Summary
| Project: | Soledad | |
|---|---|---|
| Deposit: | Breccia Pipe 1 | |
| Location: | Peru | |
| Commodities: | Gold-Silver-Copper-Lead-Zinc | |
| Date: | 5/28/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 28-5-2018: Chakana Copper Corp. announces an Exploration/Drilling Update report for its Breccia Pipe 1 deposit at the Soledad project. Drilling results incl. 119.4m @ 1.14% Cu, 3.36g/t Au, 61.3g/t Ag from 0m. Vancouver, B.C., May 28, 2018 – Chakana Copper | |
| Resources: | x | |
| CP/QP: | [Overall Report]: David Kelley (Internal) | |
| ABSTRACT: | Vancouver, B.C., May 28, 2018 – Chakana Copper Corp. (TSX-V: PERU; OTC: CHKKF; FWB: 1ZX) (the “Company” or “Chakana”), is pleased to announce assays from five additional holes in Breccia Pipe 1 (Bx 1) at its Soledad copper-gold-silver project in central Peru, optioned from Condor Resources Inc. The Soledad project (the “Project”) is located 35 km south of the Pierina mine in the prolific Miocene metallogenic belt of Peru. These results are a successful continuation of the drilling program that was initiated August 16, 2017, with the results of the first thirty-six drill holes released previously (see: www.chakanacopper.com). This Phase 1 drilling program is ongoing with a total of 14,700m in 55 holes drilled to date out of an original planned program of 16,660m and is ahead of schedule and under budget. The five holes were designed to explore the west and northwest contacts of Bx 1 from a central platform (see: figure 1). “These latest results continue to highlight the high grade nature of Bx 1 from surface,” said President and CEO David Kelley. “All of the holes penetrate the upper supergene zone where copper is leached, but gold is retained. Beneath this, copper, gold and silver are strongly enriched in the primary zone with abundant visible chalcopyrite mineralization (see: figures 2 through 5 here). Holes 54 to 57 also penetrate a lower mineralized zone with copper grades in excess of 1.58%. In holes 56 and 57, the upper part of this zone is strongly mineralized with 22m of 2.96% Cu and 1.30 g/t Au, and 23m of 2.82% Cu and 1.10 g/t Au, respectively. Most of the mineralization occurs as matrix sulfides in either shingle or mosaic breccia, but hole 54 shows some very impressive massive and semi-massive sulfide zones dominated by chalcopyrite (see: figure 3 here). It’s also important to note that hole 34, drilled to the southwest from a step out platform 80 northeast of the central platform, intersected the southwest margin of the breccia pipe approximately 100 to 125m below the mineralized breccia zone in holes 54 to 57 and returned 71.4m of 1.53% Cu, 1.05 g/t Au and 81.7 g/t Ag from 317.6m | |
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