Mike Fagan,
Editor
July 28, 2021
Chakana Copper (TSX-V: PERU)(OTC: CHKKF) — currently trading around C$0.35 per share — has announced its best drill results to-date at the flagship Soledad copper-gold-silver project, Peru, highlighted by 12 meters of massive sulfide at an eye-popping 27.39% copper and 967.7 grams per tonne silver.
Highlights from multiple targets (9 total holes) include:
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- 41 meters of 2.83% copper equivalent (“CuEq”) at Huancarama East
- 48.5 meters of 1.89% CuEq at Paloma West
- 53 meters of 4.64% CuEq from Breccia Pipe No. 1
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And then, of course, the 12 meter standout intercept from Breccia Pipe No. 1:
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- 27.39% copper and 967.7 grams per tonne silver
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That interval equates to over 35% copper-equivalent, which is a truly spectacular drill hit by any measure.
Chakana president & CEO, David Kelley — whom you’ll be hearing more from in just a second — commented via press release:
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"These results are an outstanding continuation of the drill program we started in 2020. We have seen zones of massive sulfide at Soledad before but never to this extent. Even with 55,000 metres drilled to date on multiple mineralized breccia pipes, we are still encountering these types of features, which demonstrates the exceptional upside potential of this project. This is particularly significant when you consider that we have only tested 15 out of 110 targets thus far."
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Drilling is continuing as part of the company’s fully funded 26,000 meter program which will culminate in the release of an initial resource estimate for Soledad in Q4. The remaining meters will focus on new targets situated in the northern part of the property that have yet to be drill-tested.
Below you can see images of some of the impressive looking drill core from the most recent batch of assays including Breccia Pipe No. 1 (Bx 1).
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Momentum is building as Chakana continues to hit high-grade mineralization in multiple tourmaline breccia pipe targets at Soledad. And to say it’s a target-rich environment would be a vast understatement. 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.
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Chakana CEO David Kelley estimates there to be somewhere between 50 and 100 breccia pipes on the flagship 100%-owned Soledad property where, as mentioned, only 15 out of 110 known targets have been drill-tested thus far.
Our own Gerardo Del Real of Junior Resource Monthly caught up with the distinguished CEO to go over the latest high-grade intercepts, which Mr. Kelley himself describes as some of the best he’s had the excitement and pleasure of being a part of in his 25 years in mining. CLICK HERE TO LISTEN. Transcript is also available.
Yours in profits,
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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.