Junior Mining Network
  • Dashboard
  • Newsroom
  • Featured Miners
  • Investor Clips
  • Heat Map
  • Market Data
  • Mining Topics
  • Watch List
Junior Mining Network
First Cobalt Corp.

Chakana Copper Confirms Deep Surface-Down Mineralization at Breccia Pipe 1, Highlight Intersection of 439 Metres With 0.69% Copper, 1.45 g/t Gold and 50.5 g/t Silver (2.07% Cu_EQ, 3.16 g/t Au_EQ) From Surface

  • Drill Results
  • Copper
  • Peru

TSX VENTURE: PERU
www.chakanacopper.com

Mr. David Kelley reports:

VANCOUVER, British Columbia, Sept. 11, 2018 (GLOBE NEWSWIRE) -- Chakana Copper Corp. (TSX-V: PERU; OTC: CHKKF; FWB: 1ZX) (the “Company” or “Chakana”), is pleased to announce assays from four additional core holes into Breccia Pipe 1 (Bx 1) at its Soledad copper-gold-silver project in central Peru. A portion of the Soledad Project is subject to an option agreement with Condor Resources Inc. where all drilling to date has occurred. These results follow from a Phase 1 program that began August 16, 2017. Results of the previous fifty-four drill holes have been released and are also available at www.chakanacopper.com. The four holes reported here were designed to explore the limits of Bx 1, including the main breccia pipe (Main Zone) to the northwest and northeast with one hole also orientated to test the deep extension of the blind North Zone breccia pipe, all from a central platform (Fig. 1). 

Drilling demonstrates that Bx 1 extends from surface to 439m depth and is open at depth, highlighting the vertical extent these tourmaline breccia pipe targets potentially offer. Drill hole SDH18-071 cuts this vertical extent, returning 0.69% Cu, 1.45 g/t Au and 50.5 g/t Ag (2.07% Cu_EQ; 3.16 g/t Au_EQ). It is notable that this hole first cuts a thick interval of the Main Zone breccia with 207.45m at 0.88% Cu, 2.58 g/t Au, and 53.0 g/t Ag (3.02 Cu_EQ; 4.62 g/t Au_EQ) from surface, cuts pre-mineral intrusive host rock with 32.95m at 1.37% Cu, 1.03 g/t Au, and 211.1 g/t Ag (3.85% Cu_EQ; 5.89 g/t Au_EQ), then enters the blind North Zone breccia returning 139.05m with 0.54% Cu, 0.47 g/t Au, and 29.3 g/t Ag (1.10% Cu_EQ; 1.68 g/t Au_EQ) beginning at 300.75m.  This hole deviated out of the pipe at 439m, leaving mineralization open to further extension. “Hole SDH18-071 is the best hole ever drilled on the property to date in terms of grade-thickness. The vertical extent confirmed in this hole, combined with the discovery of the blind North Zone (see news release dated June 26, 2018 at www.sedar.com), highlights the exploration potential of the Soledad project. It is also noteworthy to see mineralization in the pre-mineral host rock to the tourmaline breccia” states David Kelley, President and CEO. Examples of mineralized intervals from holes in this release are shown in Figure 2.

New mineralized intervals from Breccia Pipe 1 are:

Bx #1 - Main and North Zone Targeted Holes

DDH #
Az Dip From - To
(m)
Core Length (m) Au
g/t
Ag
g/t
Cu % Cu-eq
%*
Au-eq g/t* Note

 
SDH18-071 312 -81 0.00 439.80 439.80 1.45 50.4 0.69 2.07 3.16 Main Zone
including     0.00 37.00 37.00 6.40 21.3     6.68 Main Zone
including     37.00 207.45 170.45 1.75 59.9 1.06 2.72 4.15 Main Zone
including     207.45 240.40 32.95 1.03 211.1 1.37 3.85 5.89 host rock
and     300.75 439.80 139.05 0.47 29.3 0.54 1.10 1.68 North Zone
SDH18-072 115 -82 0.00 136.00 136.00 0.97 44.0 0.73 1.74 2.66 Main Zone
including     0.00 60.00 60.00 0.85 12.8     1.02 Main Zone
including     60.00 136.00 76.00 1.06 68.7 1.28 2.56 3.92 Main Zone
SDH18-073 82 -70 0.00 40.00 40.00 1.69 20.5     1.96 Main Zone
and     149.00 151.80 2.80 0.71 77.0     1.72 Main Zone
SDH18-074 290 -80 0.00 112.00 112.00 3.99 62.1     4.80 Main Zone
and     138.00 203.00 65.00 0.78 166.7 2.13 4.07 6.22 Main Zone
including     187.00 203.00 16.00 1.17 202.6 2.63 5.13 7.84 margin zone

* Cu_eq and Au_eq values were calculated using copper, gold, and silver. Metal prices utilized for the calculations are Cu – US$2.90/lb, Au – US$1,300/oz, and Ag – US$17/oz. No adjustments were made for recovery as the project is an early stage exploration project and metallurgical data to allow for estimation of recoveries are not yet available. The formulas utilized to calculate equivalent values are Cu_eq (%) = Cu% + (Au g/t * 0.6556) + (Ag g/t * 0.00857) and Au_eq (g/t) = Au g/t + (Cu% * 1.5296) + (Ag g/t * 0.01307).

Reported mineralized intervals are not true widths given the vertical nature of the breccia pipe and the steep inclination of the holes.

The Phase 1 drilling program was increased to 18,863m in 70 holes over and above an original planned program of 16,660m. The original Phase 1 drill program was expanded due to the discovery of a blind breccia body immediately north of the exposed main breccia pipe (North Zone). A Phase 2 drill program began at Soledad, as announced August 15, 2018, utilizing a second core rig where drilling is currently in progress at Bx 3E and Bx 6 (see news release dated August 15, 2018 at www.sedar.com). A total of 14 mineralized breccia pipes have been identified in two clusters within an area of 3,085 hectares where Chakana has or can earn a 100% interest (see news release dated July 16, 2018 at www.sedar.com).

Sampling and Analytical Procedures

Chakana follows rigorous sampling and analytical protocols that meet or exceed industry standards. Core samples are stored in a secured area until transport in batches to the ALS facility in Callao, Lima, Peru.  Samples batches include certified reference materials, blank and duplicate samples that are then processed under the control of ALS. All samples are analyzed using the ME-MS41 (ICP technique that provides a comprehensive multi-element overview of the rock geochemistry), while gold is analyzed by AA24 and GRA22 when values exceed 10 g/t.  Over limit silver, copper, lead and zinc is analyzed using the OG-46 procedure.

Additional information concerning the Project is available in a technical report prepared in accordance with National Instrument 43-101 made available on Chakana’s SEDAR profile at www.sedar.com.

Qualified Person

David Kelley, an officer and a director of Chakana, and a Qualified Person as defined by NI 43-101, reviewed and approved the technical information in this news release.

ON BEHALF OF THE BOARD

(signed) “David Kelley”
David Kelley
President and CEO

For further information contact:
Michelle Borromeo, Manager – Corporate Communications
Phone: 604-715-6845
Email:  This email address is being protected from spambots. You need JavaScript enabled to view it.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking Statement Advisory: This release may contain forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Chakana to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information relates to, among other things, the interpretation of the nature of the mineralization at the Project, the potential to grow the Project, the potential to expand the mineralization, the planning for further exploration work, the ability to de-risk the potential exploration targets, and our belief about the unexplored parts of the Project. These forward-looking statements are based on management’s current expectations and beliefs but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward- looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.

Figure 1 – Section looking west showing the Main and North breccia bodies at Bx 1 highlighting holes in this release. Light red 3D shapes based on Leapfrog model of breccia from all holes drilled by Chakana. Drill holes show tourmaline breccia (red), andesitic wall rock (green), and other host rocks (other colors). Section includes data from 50m in front of and behind section.
ChakanaCopper91120181

Figure 2 – Mineralized intercepts from four holes discussed in this release showing different styles of mineralization in Bx 1: A) SDH17-071 – classic high-grade shingle breccia from the Main Zone; the interval 39-45m assays 16.77 g/t Au, 3.20% Cu, and 49.0 g/t Ag; B) pre-mineral feldspar monzodiorite porphyry with sulfide replacement textures; the interval 234.5-45239.45m assays 2.70 g/t Au, 2.26% Cu, and 1,145.7 g/t Ag; C) SDH18-071 – mosaic breccia from the North Zone; the interval 310-315m assays 0.37 g/t Au, 1.18% Cu, and 93.6 g/t Ag; D) SDH18-072 – mosaic breccia from the Main Zone; the interval 78-84m assays 3.15 g/t Au, 3.22% Cu, and 69.9 g/t Ag; E) SDH18-074 – high-grade margin zone mineralization from the Main Zone; the interval 192-197m assays 2.09 g/t Au, 3.38% Cu, and 317.4 g/t Ag.
ChakanaCopper91120182

MORE MINING NEWS

Pretivm Reports 2018 Results and 2019 Outlook
Agnico Eagle Mines Reports Fourth Quarter and Full Year 2018 Results - Three-Year Guidance Outlines Growing Production with Stable to Declining Unit Costs; Meliadine Mill Commissioning Underway with Project Ahead of Schedule and Under Budget
First Quantum Minerals Reports Fourth Quarter and Full Year 2018 Results
Lundin Mining Fourth Quarter and Full Year Results
Yamana Gold Announces Fourth Quarter and Full Year 2018 Results
North American Palladium Reports $167.8M in Adjusted EBITDA for 2018, Announces Quarterly Dividend
New Gold Reports Fourth Quarter and Year-End Financial Results
Asanko Gold Reports Q4 and Full Year 2018 Results, and Provides 2019 Guidance
Torex Gold Announces Positive Results From Its First Infill Program Targeting the El Limon Deep (ELD) Zone
NexGen Energy Releases Results from Shaft Pilot Hole Report and Assays from the Development Drilling Summer 2018 Program
Fortuna Silver Mines provides review of Brownfields exploration programs
SilverCrest Metals Announces Babi Sur Vein High-Grade Discovery at Las Chispas

GET DAILY NEWS FLOW

Sign Up To Receive All Morning
News To Your Email Inbox

Chakana Copper

ADD TO WATCH LIST
Last Trade: C$0.41
Daily Change: 0.02 5.13
Daily Volume: 98,600
Market Cap: C$25.820M
February 07, 2019
Chakana Intersects 22.8 Metres With 2.93 g/t Gold, 1.37% Copper, and 1,283.2 g/t Silver (21.80 g/t Au_EQ, 14.29% Cu_EQ) at Breccia Pipe 6
January 10, 2019
Chakana Copper Releases Results of Infill Drilling at Breccia Pipe 5 and Provides Exploration Update, Intersects 140.4 Metres With 0.46% Copper, 1.70 G/T Gold and 23.5 G/T Silver (1.77% Cu_EQ, 2.71 G/T Au_EQ) From 13 Metres
November 26, 2018
Chakana Copper Announces Approval of the Semi-Detailed Environmental Impact Assessment at Soledad, Peru
November 13, 2018
Chakana Releases Infill Drilling Results at Breccia Pipe 5, Intersects 264 Metres With 0.71% Copper, 1.30 g/t Gold and 24.3 g/t Silver (1.77% Cu_EQ, 2.70 G/t Au_EQ) From Surface
October 18, 2018
Chakana Copper Releases Final Results of Infill Drilling at Breccia Pipe 1 and Provides Exploration Update, Intersects 102 Metres With 0.75% Copper, 3.77 g/t Gold and 55.9 g/t Silver (3.69% Cu_EQ, 5.65 g/t Au_EQ) From Surface in the Main Zone
September 18, 2018
Chakana Copper Uplisted in United States to OTCQB Marketplace Under Symbol CHKKF
August 15, 2018
Chakana Copper Initiates Phase 2 Drill Program at Soledad Drilling Begins on Breccia Pipes 3 and 6
July 16, 2018
Chakana Copper Expands Mineral Rights by 1,066 Hectares Acquiring Second Cluster of Copper-Gold-Bearing Breccia Pipes
June 26, 2018
Chakana Copper Discovers Blind Pipe at Breccia Pipe 1, Intersects Additional High-Grade Intervals - 187 Metres With 1.05% Copper and 1.18 g/t Gold (2.38% Cu_eq) and 111 Metres With 1.05% Copper and 3.48 g/t Gold (3.75% Cu_eq) in Breccia Pipe 1
May 28, 2018
Chakana Copper Intersects More High Grade - 119.4 Metres With 1.14% Copper and 3.36 g/t Gold (3.86% Cu_eq) and 114 Metres With 0.97% Copper and 2.86 g/t Gold (3.32% Cu_eq) in Breccia Pipe 1
May 23, 2018
Chakana Copper Acquires Four New Breccia Pipes, Doubles Soledad Land Position
April 09, 2018
Chakana Copper Announces DTC Eligibility of Common Shares
LOAD MORE NEWS
LOAD MORE NEWS

Pacific Empire Minerals

Pacific Empire Minerals

Pacific Empire Minerals is focused on exploring gold-rich copper prospects in British Columbia utilizing the prospect generator business model. The Company identifies early-stage exploration opportunities and advances the projects with the Company’s own reverse circulation drill, allowing for minimal costs while advancing the projects to a stage beyond that of traditional prospect generators. The Company’s strong portfolio of assets is a result of continuous generative work conducted since... VIEW PROFILE

© 2019 Junior Mining Network. All Rights Reserved.

  • Privacy Policy
  • Disclaimer
  • RSS
  • Contact