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Chakana Announces New High-Grade Discovery at Paloma West - Soledad Project, Peru
22.65 Metres of 2.81 g/t Gold, 3.80% Copper, and 56.2 g/t Silver (9.36 g/t Au-eq) from 48 Metr...
About this update from Chakana Copper Corp.
[{"type":"text","content":"Chakana Announces New High-Grade Discovery at Paloma West - Soledad Project, Peru22.65 Metres of 2.81 g/t Gold, 3.80% Copper, and 56.2 g/t Silver (9.36 g/t Au-eq) from 48 MetresVancouver, British Columbia--(Newsfile Corp. - November 10, 2020) -  Chakana Copper Corp. (TSXV: PERU) (OTCQB: CHKKF) (FSE: 1ZX) (the \"Company\" or \"Chakana\"), is pleased to report a new high-grade discovery at the Paloma West target at the expanded Soledad Project in Ancash, Peru. Results from the first three holes at Paloma West are part of the ongoing Phase 3 drill program, a fully funded 15,000 metre drill program that started August 15, 2020. Phase 3 is testing a tight cluster of high-grade, gold-enriched tourmaline breccia pipe targets within the Paloma and Huancarama breccia complexes (Fig. 1). Ten holes have now been completed in the Paloma targets for a total of 2,387 metres. Drilling is currently underway at Huancarama where three holes have been completed thus far.Mineralized intervals from these three holes at Paloma West include: DDH #From - To (m)Core Length (m)Aug/tAgg/tCu %Cu-eq%*Au-eq g/t*SDH20-1402.705.002.304.5910.84.73And21.00101.0080.000.3930.50.971.492.27Including22.9541.0018.050.7982.71.953.174.85including33.0041.008.000.7346.34.044.917.52SDH20-1413.609.005.401.494.61.55and28.0070.6542.651.8784.52.154.096.26including29.0034.005.002.66443.20.175.708.72including48.0070.6522.652.8156.23.806.129.36SDH20-1422.308.005.701.148.71.25and36.00103.3067.300.7941.60.661.532.34including38.3055.0016.700.31120.41.172.403.67including73.0088.0015.002.6116.80.622.473.78 * 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).Significant intervals of mineralization were encountered in all three holes. The three holes were collared outside of the breccia pipe in wall rock, drilled through the breccia, and exited the breccia on the other side ending in wallrock. Higher grades occu...