Chakana Copper (TSX-V: PERU) CEO David Kelley on Scout Drilling that Confirms Yet Another Mineralized Breccia Pipe at the Soledad Project in Peru

July 30, 2019

Sign up for the free RSD newsletter to get the latest
news and interviews delivered to your inbox.

 

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the President and CEO of Chakana Copper (TSX-V: PERU)(OTC: CHKKF), Mr. David Kelley. David, how are you this morning?

David Kelley: I'm great, Gerardo. How are you?

Gerardo Del Real: I am fantastic, thank you for asking. Heck of a way to start the week. First pass drilling at Breccia Pipe 7 has confirmed a fourth mineralized pipe at Soledad. I believe you now have 23 outcropping breccia pipes identified to date. This is the first set of results from that.

Can we talk a bit about it? Because there were some unique attributes to these sets of results here.

David Kelley: Yeah, absolutely. I mean we're really excited about it because as you mentioned, it's a fourth mineralized pipe on the property that we drilled to date, really getting some outstanding grades, silver-rich in the top part of the pipe from what we've seen. We've only put four drill holes in this pipe so far and that's really our strategy in this next phase of exploration is a few drill holes in multiple targets to identify the best target for additional drilling. This pipe is somewhat similar to Breccia 6, which is also kind of on the north side of the property. Very strong silver grades and it may be indicating some form of zonation that we see within the district.

Gerardo Del Real: Excellent. And let's provide some context. Now this is first pass drilling. It was really designed just to go down to 200 meters. So I want to to talk about some of the highlight intersections here. You had an intersection of 31 meters with a 0.68 grams per tonne gold, 205.9 grams per tonne silver and 0.23% copper from 157 meters. You also had a 35-meter hit with 0.80 grams per tonne gold, 53.8 grams per tonne silver and 0.35% copper. That was from surface. So again, excellent numbers for some scout drilling basically. Right?

David Kelley: Yeah, that's exactly right. We're super excited about this. There is copper in the pipe. We see local zones of very strong copper mineralization. So I think that bodes well for future drilling and perhaps going at depth we might see a transition into stronger copper grade and perhaps stronger gold grades as well. You know, we're still learning about the zonation in the district and each one of these pipes that we drill give us a lot of information to start unraveling those secrets.

Gerardo Del Real: You mentioned future drilling. Can we talk about the status of the current program and what to expect here over the next several months?

David Kelley: Yeah. So we'll continue with scout drilling the high priority-targets. Right now in fact, the drill rig is sitting on Breccia 6. We're doing some deeper drilling on the upper breccia confirming the northern contact for that breccia pipe, which was never confirmed in the previous drilling. And so we'll continue doing that and you can expect to see very steady results coming out over the next several months with our drill campaign running through the end of the year.

Gerardo Del Real: Fantastic. David, thank you so much for your time today. Is there anything else that you want to add? I wanted to have you on immediately after I saw the release to do a brief update, so thank you for jumping on, on such short notice. Anything else you want to add?

David Kelley: Well, just keep watching us. We're really excited about the additional targets that we have to test. There's multiple targets that are forthcoming, that will be tested in this current drill campaign and we're really excited to kick it off with such excellent results on Breccia 7.

Gerardo Del Real: Fantastic. Well said, David. Thank you so much. Got the feeling we'll be chatting up quite a bit here soon.

David Kelley: Absolutely. Thank you, Gerardo.

Gerardo Del Real: You take care now.

View Interview Archive

Subscribe to the RSD email list and get the latest resource stock activity directly to your inbox, for free.

Part of the Stock Digest family of websites

Small Cap Stock Digest

MARKET SUMMARY

INDICES

Name Last Change
DOW 27766.30 0.20%
S&P 500 3103.54 0.16%
NASDAQ 8506.21 0.24%
TSX 16999.19 0.04%
TSX-V 529.03 0.00%

Resource Commodities

Name Last Change
Gold 1464.85 0.02%
Silver 17.09 0.00
Copper 2.62 2.621
Platinum 901.00 0.67%
Oil 58.58 2.68%
Natural Gas 2.57 0.31%
Uranium 25.88 0.00%

@RSDigest ON TWITTER