Junior Mining Network
  • Dashboard
  • Newsroom
  • Featured Miners
  • Investor Clips
  • Heat Map
  • Market Data
  • Mining Topics
  • Watch List
Junior Mining Network
Cobalt 27

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

  • Drill Results
  • Copper
  • Peru

TSX VENTURE: PERU
www.chakanacopper.com

Mr. David Kelley reports:

VANCOUVER, British Columbia, Nov. 13, 2018 (GLOBE NEWSWIRE) -- Chakana Copper Corp. (TSX-V: PERU; OTC: CHKKF; FWB: 1ZX) (the “Company” or “Chakana”), is pleased to announce additional results from infill drilling on Breccia Pipe 5 (Bx 5) at the Soledad copper-gold-silver project in central Peru (the “Soledad Project”). All drilling to date has been on the portion of the Soledad Project optioned from Condor Resources Inc. The four holes reported here were designed to explore the upper 250m extent of the breccia pipe (Figs. 1 and 2).  Chakana had previously released nine drill holes from Bx 5 (see news release dated February 22, 2018 at www.sedar.com), including 164m with 0.51% Cu, 1.68 g/t Au and 27.4 g/t Ag (1.84% Cu_EQ; 2.82 g/t Au_EQ) from 12m in hole SDH17-041.

All four holes intersected significant intervals of mineralization. Hole SDH18-080 was drilled to the southeast from a collar located on the northeast part of the breccia pipe and is the best hole drilled to date on Bx 5 in terms of grade-thickness. Excluding the oxide zone, primary grades are 0.79% Cu, 1.30 g/t Au, and 21.6 g/t Ag for 234m starting at 30m depth. Previous results from hole SDH17-038, drilled to the east at 82 degrees azimuth from the same collar location, also had high copper grades with 1.21% Cu, 0.70 g/t Au, and 53.8 g/t Ag for 23m starting at 38m depth. “These results are very encouraging for Bx 5 in terms of continuity of mineralization and the suggestion of higher copper grades on the eastern side of the breccia pipe. Drill results from both Bx 1 and Bx 5 are open at depth and numerous additional targets remain to be tested,” said President and CEO David Kelley. Examples of mineralized breccias from holes in this release are shown in Figure 3.

New mineralized intervals from Breccia Pipe 5 are:

Breccia Pipe 5

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

 
SDH18-079 243 -82 0.00 178.00 178.00 1.50 24.8 0.48 1.67 2.56  
  including     0.00 26.00 26.00 1.81 53.4     2.51 Oxide
  including     26.00 178.00 152.00 1.45 20.0 0.56 1.68 2.57  
SDH18-080 111 -83 0.00 264.00 264.00 1.30 24.3 0.71 1.77 2.70  
  including     0.00 30.00 30.00 1.33 45.8     1.93 Oxide
  including     30.00 264.00 234.00 1.30 21.6 0.79 1.82 2.79  
SDH18-081 168 -83 0.00 201.00 201.00 1.63 22.2 0.40 1.66 2.53  
  including     0.00 29.00 29.00 0.78 43.6     1.35 Oxide
  including     29.00 201.00 172.00 1.77 18.6 0.45 1.77 2.70  
SDH18-082 333 -78 0.00 111.00 111.00 1.02 34.3 0.54 1.50 2.29  
  including     0.00 12.00 12.00 1.89 35.2     2.35 Oxide
  including     12.00 111.00 99.00 0.92 34.2 0.61 1.50 2.30  

* 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.

Surface Exploration Update

Surface exploration continues throughout Chakana’s 3,085 hectare concession area, including detailed mapping, rock sampling and soil surveys. Planned electromagnetic surveys in down hole and surface loop configurations will be initiated in the next two weeks using imported Crone geophysical equipment. Integration of these data sets will be used to prioritize drill targets.

A soil orientation study has been completed to determine the optimal sampling media, sample spacing, and analytical protocols to best detect mineralization related to tourmaline breccia pipes. In addition, soil sampling covering a large portion of the Soledad breccia pipe cluster has been completed (Fig. 4). Sampling further north covering Bx 6, and further west covering the Corral and Western Breccias is underway. A separate survey covering the Compañero breccia pipe cluster will also be completed.

To date, soil results for gold show a strong correlation with the known breccia pipes and further highlight several additional exploration targets (Fig. 4). There is a corridor of anomalous gold extending NNE from Huancarama to Bx 5, an area of approximately 1,400m by 300m. “The soil geochemistry is working exceptionally well in identifying exploration targets, particularly in areas with little or no outcrop. There is a very impressive anomaly northeast of Bx 1 where mineralized breccia is poorly exposed. Other areas of interest include anomalies east of breccias Bx 5 and Bx 3W, and a continuous anomaly surrounding and extending beyond the Paloma East and West pipes. South of this area, a broad area of anomalous gold in soil 400m by 100m surrounds the Huancarama Breccia Complex,” stated Kelley.      

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 are analyzed using the OG-46 procedure. Soil samples are analyzed by 4-acid (ME-MS61) and for gold by Fire Assay on a 30g sample (Au-ICP21).

Results of the previous sixty-two drill holes from the Soledad Project have been released and are also available at www.chakanacopper.com.  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. 

Figure1
ChakanaCopper11132018

Figure2Junior Mining Network

Figure4Junior Mining Network

Figure3
ChakanaCopper111320182

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
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
September 11, 2018
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
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

Azincourt Energy

Azincourt Energy

Azincourt Energy is a Canadian resource company specializing in the strategic acquisition, exploration and development of alternative energy/fuel projects focusing on uranium, lithium, cobalt and other critical energy and fuel elements. Azincourt is actively building a portfolio of projects to include materials that will meet the world’s increasing need to power the future. Currently the Company is developing uranium projects in the Athabasca basin as well as lithium pegmatite projects in Manitoba... VIEW PROFILE

© 2019 Junior Mining Network. All Rights Reserved.

  • Privacy Policy
  • Disclaimer
  • RSS
  • Contact