Drills Continue to Hit High-Grade Copper-Gold-Silver in Peru Ahead of Maiden Resource Estimate

 

Chakana Copper (TSX-V: PERU)(OTC: CHKKF) — currently trading around C$0.35 per share — has released assays from the final seven holes at the flagship Soledad copper-gold-silver project, Peru, highlighted by 46 meters of 5.64% copper, 592.9 grams per tonne silver, and 0.36 g/t gold.

The results are from Breccia Pipe #1 (“Bx 1”) and are part of an ongoing 26,000 meter exploration and resource drilling program ahead of a planned initial resource estimate anticipated by year-end.

Chakana president & CEO, David Kelley, commented via press release:

“Results for the final seven resource definition holes for Bx 1 are excellent as expected and consistent with previous drill results. These results, combined with previous drilling at Bx 1, will be part of the initial resource estimate that will also include Bx 5, Bx 6, Paloma East, Paloma West, and Huancarama. We look forward to releasing additional drill results from our ongoing drill program and are committed to having the initial resource estimate out by the end of the year.”

Momentum is building as Chakana continues to hit high-grade mineralization in multiple tourmaline breccia pipe targets at Soledad. The company has already identified 23 breccia pipes that crop out at-surface and has also had success in hitting “blind” breccia pipes where no outcropping exists.

Best of all… it’s still early-days. Chakana CEO David Kelley estimates there to be somewhere between 50 and 100 breccia pipes at Soledad where only 15 out of 110 known targets have been drill-tested to-date.

The remaining meters of the current program will focus on new targets situated in the northern part of the property that have yet to be drilled.

Our own Gerardo Del Real of Junior Resource Monthly has been providing the context as well as exclusive interviews with senior management throughout the early exploration stages at Soledad.

These next few months leading up to the initial resource estimate are critical, and Gerardo will be keeping his readers up to date on all of the drilling, plus the macro environment for copper-gold-silver, and much more in his monthly Junior Resource Monthly issues.

Click here for a short video clip where Mr. Del Real covers a few of the key advantages his subscribers enjoy monthly — including specific buy-sell signals and upcoming catalysts across a variety of metals — and why he believes Q4 is shaping up to be one of the most profitable quarters he’s seen in the junior resource space.

Also click here for our feature report on Chakana Copper.

Yours in profits,

 

Mike Fagan

Mike Fagan
Editor, Resource Stock Digest


Mike Fagan has mining in his blood. As a teenager he staked countless gold and silver properties in Nevada alongside his dad, Brian Fagan, who created the Prospect Generator model that’s still widely used today in the resource space. One of those staking projects was put into production by a major Canadian mining company — a truly rare and profitable experience. That background uniquely qualifies him as a mining stock speculator. One of the most well-known names in the business, Mike is now putting that experience to use for the benefit of Resource Stock Digest readers.


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