Breaking News on Spectacular High-Grade Intercepts

Feb. 9, 2021

by Mike Fagan

Chakana Copper (TSX-V: PERU)(OTC: CHKKF) just released its highest grade gold-copper-silver drill intercept to-date from the Huancarama breccia complex at its flagship Soledad Project in central-Peru.

The highlight number reads:

Chakana Copper intersects 2.79 grams per tonne (g/t) gold, 4.04% copper, and 330.8 g/t silver (13.30 g/t gold equivalent) over 11 meters.

That impressive hit is within a much longer mineralized intercept of 93 meters of 1.63 g/t gold, 0.95% copper, and 129.2 g/t silver (4.77 g/t gold equivalent).

Through each successive round of drilling at Soledad, the Chakana field team is systematically locking down the geometry of these mineralized breccia pipes — many of which crop out at-surface and potentially connect deeper underground to combine for much larger breccia bodies with which to build tonnage.

Chakana president and CEO, David Kelley — whom you’ll be hearing directly from in just a moment — commented via press release:

“These two holes demonstrate the successful continuation of the drilling at Huancarama, further defining a large mineralized breccia pipe. The H1 and H2 breccias exposed at surface coalesce at depth, forming a large coherent breccia pipe. We continue to see excellent grades, particularly in the central part of the breccia body below the collapse zone. Hole SDH20-164 exhibits spectacular mineralization with 11m of 2.79 g/t Au, 4.04% Cu, and 330.8 g/t Ag; and 4m of 2.61 g/t Au, 5.44% Cu, and 926.2 g/t Ag, within two separate intervals. The high-grade zones reported in previous drill holes correlate well with those reported in this hole and are open at depth. Drilling is ongoing at Huancarama and we look forward to reporting additional results soon.”

The two drill holes are part of the company’s Phase 3b, 15,000-meter drill program testing a cluster of high-grade, gold-copper-silver enriched tourmaline breccia pipes within the Huancarama and Paloma target areas with 32 holes reported on to-date.

Next up, with momentum building at a more than 90% drilling success rate and with mineralization continuing to improve at-depth, Chakana is gearing up for an aggressive 2021 drill program of 26,000 meters to further develop the high-grade polymetallic resource at Soledad.

Our own Gerardo Del Real of Junior Resource Monthly caught up with Chakana president & CEO, David Kelley, to discuss the late-breaking, record drill-hit from Huancarama and next-steps for the flagship Soledad Project. Click here to listen in to the interview (a transcript is also available).

You can also click here for our most recent report on Chakana Copper.

Yours in profits,

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 and Hard Asset Digest readers.