How Deep Does the Copper-Gold-Silver Go in Peru?

by Mike Fagan

Mike Fagan

Chakana Copper (TSX-V: PERU)(OTC: CHKKF) — currently trading right around C$0.60 per share — has now extended mineralization to 290 meters below surface highlighted by 1.21 grams per tonne gold, 1.35% copper, and 95.6 g/t silver over 29 meters at the Huancarama target — Soledad Project, Peru.

Chakana president & CEO, David Kelley — whom you’ll be hearing more from momentarily — commented via press release:

"Hole SDH20-166 was successful in increasing the Huancarama East breccia pipe to a depth of 290m below surface with mineralization open at depth. We had previously established mineralization starting at surface and continuing to a depth of approximately 225m depth. As we have seen in the other breccia pipe discoveries, these pipes are vertically extensive, and all are still open at depth. The high-grade intercept of 29.0m with 1.21 g/t Au, 1.35% Cu, and 95.6 g/t Ag is particularly noteworthy as it provides additional confirmation of the high-grade potential of this new discovery and is consistent with intercepts recently reported. It is also encouraging to encounter high-grade mineralization in the first hole drilled around H4 on the western side of the complex. As we have seen in drilling other breccia pipes at Soledad, these high-grade intercepts are normally related to adjacent larger mineralized breccia bodies. More drilling is warranted on the western side of Huancarama. And drilling is ongoing at both Huancarama and Paloma with two drill rigs; we look forward to reporting additional results soon."

With a third drill rig arriving onsite next month, Chakana Copper has entered an important development stage that will include 26,000 meters of drilling across 3 primary discovery areas: Paloma East, Paloma West, and Huancarama.

As always, we’ll keep bringing you the results... and, speaking of which, our own Gerardo Del Real of Junior Resource Monthly caught up with Chakana president & CEO, David Kelley, to go over the latest drill results from Huancarama and the importance of extending mineralization at-depth. You can catch the whole interview here (as well as the transcript).

You can also click here for our most recent 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 and Hard Asset Digest readers.

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