Chakana Copper launches drill program at Soledad, Peru

Chakana Copper Corp. [TSXV-PERU; OTCQB-CHKKF; FSDEW-1ZX] has initiated a fully financed, 3,000-metre drill program at its Soledad project in the Ancash province of Peru, within the Miocene mineral belt.

“We are pleased to announce the start of our 3,000 m fully funded drill program to test three high-priority targets on the south half of the Soledad project, where an expanded drill permit was granted in 2023. This is the first time we have had the opportunity to drill on the south side of the Soledad project where we believe the intrusive centre responsible for the district zonation we see is located.

“There are numerous additional mineralized tourmaline breccias on the south side, but for the first time we will be testing two bulk-tonnage targets – the giant Mega-gold porphyry target, and, further south, the La Joya high-sulphidation epithermal zone with preserved advanced argillic alteration and strong silver-gold mineralization at surface. We are working with AK Drilling, who has undertaken all of the 62,000-plus metres of drilling for us dating back to 2017, so we expect this program to be efficient and safe,” stated David Kelley, president and CEO.

Chakana Copper is currently advancing the Soledad Project located in the Ancash region of Peru, a highly favorable mining jurisdiction with supportive communities. The Soledad Project is notable for the high-grade copper-gold-silver mineralization that is hosted in tourmaline breccia pipes.

An initial mineral resource estimate for seven breccia pipes was announced in Q1 2022 with an Inferred Resource of 4.8 million tonnes grading 0.72 g/t gold, 61 g/t silver and 0.97% copper assumed to be extractable by underground mining methods, plus an additional Inferred Resource of 1.9 million tonnes grading 1.29 g/t gold, 37.1 g/t silver and 0.65% copper assumed to be extractable by open pit mining methods. The total initial Inferred Resource contains 191,000 ounces of gold, 11.7 million ounces of silver, and 130 million pounds of copper.

In addition, extensive multidisciplinary exploration has defined 154 exploration targets, 28 of which have been tested to date (18%), confirming that Soledad is a large, well-endowed mineral system with strong exploration upside.