Hits Multiple High-Grade Intercepts At Soledad
Chakana Copper Corp. (TSXV: PERU) (OTCQB: CHKKF) has obtained positive results from 11 in-fill holes totalling 2,873.7m from the Huancarama, Paloma East, and Paloma West tourmaline breccia pipe discoveries at its Soledad project, Ancash, Peru.
Drilling continues as part of a fully-funded 26,000m exploration and resource drilling programme planned for 2021.
“The resource definition drilling portion of our current program is going exceptionally well with excellent results from the three discoveries at Soledad since the resumption of drilling in 2020,” President and CEO, David Kelley, said.
“Huancarama and Paloma West continue to demonstrate their high-grade nature, and strong grades were also encountered at Paloma East. Mineralisation in all three breccia pipes starts at surface and is open at depth.
“These results are another positive step toward our resource estimate due out later this year that will include multiple breccia pipes. To date, we have only tested 15 out of the 110 total targets on the property.”
Soledad Project drilling highlights include:
- Huancarama East – four holes with high-grade intercepts, including 134.3m of 0.92 g/t Au, 0.86% Cu, and 80.7 g/t Ag (2.15% Cu-eq) from 119.7m depth;
- Paloma East – five holes with strong grades, including 126.1m of 0.91 g/t Au, 0.20% Cu, and 11.6 g/t Ag (0.89% Cu-eq) starting at surface; and
- Paloma West – two holes with high grades, including 101.0m of 0.53 g/t Au, 1.01% Cu, and 41.5 g/t Ag (1.71% Cu-eq) starting at surface.
The latest results are part of the fully funded 2021 drill programme of 26,000m. Combined with the drilling in the second half of 2020, approximately 32,000m is anticipated through 2021.
Of this, 13,946.2m have been reported in 67 drill holes for the Paloma and Huancarama areas. Within the 26,000m of drilling planned in 2021, the company will complete approximately 16,000m of resource definition in-fill drilling. The results of this drill programme are important to increase confidence in the resource estimate, anticipated later in 2021.
Additionally, 10,000m of exploration drilling is planned for 2021. This will focus on new targets located in the northern portion of the project that have not been drilled previously but are strategic to any eventual development at Soledad. Exploration targets have been ranked based on their technical merit, access, and logistics.
