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Chakana Copper Acquires Four New Breccia Pipes, Doubles Soledad Land Position
VANCOUVER, British Columbia, May 23, 2018 (GLOBE NEWSWIRE) -- Chakana Copper Corp. (TSX-V:PERU) (OTC:CHKKF) (FWB:1ZX) (the “Company” or “Chakana”), is pleased t
About this update from Chakana Copper Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, May 23, 2018 (GLOBE NEWSWIRE) -- Chakana Copper Corp. (TSX-V:PERU) (OTC:CHKKF) (FWB:1ZX) (the “Company” or “Chakana”), is pleased to announce that it has expanded its mineral rights at the Soledad project (the “Project”) optioned from Condor Resources Inc. Chakana now has, or can earn, a 100% interest in 2,018.89 hectares covering the cluster of nine known breccia pipes shown in Figure 1. The Project is located 35 km south of the Pierina mine in the prolific Miocene metallogenic belt of Peru. The new mineral rights were acquired through an option, an outright purchase, and staking. “The expansion and consolidation of our mineral rights at Soledad is strategic as it covers four additional mineralized tourmaline breccia pipes and it allows access to the cluster of breccia pipes from the valley below,” said President and CEO David Kelley. “The four additional pipes include the Huancarama Breccia Complex, Paloma East and West pipes, and Perenne, bringing the total number of principal pipes to nine. All have characteristic surface mineralization and breccia textures that make them highly prospective drill targets. In addition, there are eleven areas with strongly altered andesitic volcanic rock consisting of sheeted quartz-sericite-tourmaline veining now believed to be the vertical expression of blind breccia bodies,” added Mr. Kelley. Previous surface rock chip and channel sampling over Breccia Pipes 1 and 5 (Bx 1 and Bx 5, respectively) by Condor Resources and Mariana Resources show strongly anomalous gold results (Fig. 2). Recent rock chip and channel sampling by Chakana over the Paloma and Huancarama pipes show a similar strong geochemical response to Bx1 and Bx5 (Fig. 3). Sampling of the Perenne pipe is in progress. “These sampling results are highly encouraging as they suggest a style of mineralization similar to what we have already drilled in Bx 1 and Bx 5. The Huancarama Breccia Complex is especially exciting as it is the largest exposure of mineralized breccia we have encountered thus far at surface,” states Kelley. Huancarama is a breccia complex with a main massif on the east that measures approximately 60 metres in diameter. It is surrounded by 5 additional breccia bodies that extend to the west for 200 metres and a collapse zone adjacent to the massif that measures 3...