Chakana drills 268 metres of 1.48% CuEq at Soledad, Peru

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Chakana Copper Corp. [PERU-TSXV; CHKKF-OTCQB; 1ZX-FSE] reported assay results from 14 resource definition holes drilled in the Bx 5 breccia pipe totalling 2,052.75 metres at the Soledad project, Ancash, Peru. The resource drilling is part of a fully financed 26,000-metre exploration and resource drilling program planned for 2021. These results will increase confidence in the initial resource estimate, anticipated to be completed by the end of 2021.

Drill hole SDG21-226 returned 157.00 metres of 1.44 g/t gold, 13.2 g/t silver and 0.66% copper (CuEq 1.71%), including 53.00 metres of 1.27 g/t gold, 18.7 g/t silver and 1.21% copper (CuEq 2.20%), including 48.00 metres of 16.1 g/t silver and 0.76% copper (CuEq 2.73%).

Hole SDH21-227 returned 105.00 metres of 1.24 g/t gold, 23.0 g/t silver and 1.09% copper (CuEq 2.10%), including 46.00 metres of 1.50 g/t gold, 40.5 g/t silver and 1.74% copper (CuEq 3.07%).

Hole SDH21-229 returned 268.00 metres of 1.17 g/t gold, 19.2 g/t silver and 0.55% copper (CuEq 1.48%).

David Kelley, president and CEO, said, “The additional drill results for Bx 5 are outstanding and improve our understanding of the mineralization hosted in this breccia pipe. Grades are stronger at depth as seen in the deeper holes in this release, and mineralization remains open. This is one of six breccia pipes that will be included in the initial resource estimate. The Soledad project is exceptional in having multiple mineralized breccia pipes in close proximity to each other. We are also very excited about the new geophysical data that is being acquired across the entire extent of the 12-square-kilometre mineral system and expect that this will contribute to the ongoing exploration success on the property.”

The Bx 5 breccia pipe is in the north-central part of the project and is one of six breccia pipes that will be included in Chakana’s initial resource estimate. The breccia pipe forms a prominent monument outcrop and extends to depths greater than 482 m where mineralization remains open.

A total of 26,850 metres of drilling have been completed in 2021. The objectives of this drill program are to complete resource definition drilling on six initial breccia pipes to an approximate depth of 300 m and test several new exploration targets. Breccia pipes that will be included in the initial resource estimate are: Bx 1, Bx 5, Bx 6, Paloma East, Paloma West and Huancarama.

Gradient-array induced polarization (IP) surveys are approximately 90% complete over the entire 12 km2 footprint of the Soledad mineral system. Once completed, offset IP surveying will be conducted over high-priority target areas to supplement the extensive exploration data sets used to identify the current inventory of 110 exploration targets on the property. This new information will be used to identify both new targets and prioritize existing targets in preparation for drilling when the exploration drilling program resumes.


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