Business
Chakana Copper Drills 113 Metres of 1.17% Copper and 3.58 g/t Gold at Soledad Project
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 25, 2017) - Remo Resources Inc. (TSX VENTURE:RER) (the "Company" or "Remo"), is pleased to announce results fro
About this update from Chakana Copper Corp.
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 25, 2017) - Remo Resources Inc. (TSX VENTURE:RER) (the \"Company\" or \"Remo\"), is pleased to announce results from 3 additional drill holes being drilled by Chakana Copper Corp. (\"Chakana\") at the Soledad copper-gold-silver project in central Peru. The drilling campaign was initiated August 16th, 2017 with the results of the first two drill holes set out in Remo's news release of October 6, 2017 which also disclosed the proposed reverse take-over of Remo pursuant to an amalgamation with Chakana (the \"Proposed Transaction\"). The Soledad project is located 35 km south of the Pierina mine in the prolific Miocene metallogenic belt of Peru. The project hosts multiple high-grade quartz-tourmaline-sulfide breccia pipes that crop out at surface. The purpose of the drilling campaign is to define an initial inferred resource on two of the pipes, with additional drilling dedicated to other pipes and targets on the property. All drilling to date has been on Breccia Pipe #1 (Bx #1) where previous drilling had documented continuous mineralization from surface to 490 metres (please refer to Condor Resources Inc's news release of July 6, 2016). Drilling by Chakana has been from a central platform on top of the pipe with different azimuth and dip angles to define the geometry of the pipe and the grade profile. Results from the third through fifth drill holes completed by Chakana are as follows: DDH # Azimuth Dip From - To (m) Core length (m) Au g/t Ag g/t Cu % SDH17-019 235° 77.2° 0.0 21.0 21.0 4.06 24.4 - And - - 87.0 124.0 37.0 0.80 136.1 2.20 And - - 205.0 230.25 25.25 1.72 221.4 1.64 SDH17-020 54.9° 86.8° 0.0 113.0 113.0 3.58 51.5 1.17 Including - - 0.0 43.0 43.0 4.11 31.8 Including - - 43.0 113.0 70.0 3.25 63.6 1.87 SDH17-021 55.2° 59.9° 0.0 36.8 36.8 4.42 23.2 - The true widths of the mineralized intervals reported in this release are difficult to ascertain and additional drilling will be required to constrain the geometry of the mineralized zones David Kelley, President and Chief Executive Officer of Chakana, commented as follows: \"The results from these three additional drill holes confirm our belief that the breccia pipes at Soledad host significant high-grade mineralization. The grades are exceptional, particularly at the margin of the pipes where sulfide contents incr...