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Chakana Copper Intersects 12.2m of 5.76 g/t Au, 2.98% Cu, and 252 g/t Ag (13.61 g/t Au-Eq) from 21.6m at Paloma West, Soledad Project, Peru
Vancouver, British Columbia--(Newsfile Corp. - December 3, 2020) - Chakana Copper Corp. (TSXV...
About this update from Chakana Copper Corp.
[{"type":"text","content":"Chakana Copper Intersects 12.2m of 5.76 g/t Au, 2.98% Cu, and 252 g/t Ag (13.61 g/t Au-Eq) from 21.6m at Paloma West, Soledad Project, PeruVancouver, British Columbia--(Newsfile Corp. - December 3, 2020) - Chakana Copper Corp. (TSXV: PERU) (OTCQB: CHKKF) (FSE: 1ZX) (the \"Company\" or \"Chakana\"), is pleased to release new drill results from four holes at its high-grade copper-gold-silver Paloma West discovery at the expanded Soledad Project in Ancash, Peru. These results 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 cluster of high-grade, gold-enriched tourmaline breccia pipe targets within the Paloma and Huancarama breccia complexes (Fig. 1). Sixteen holes have now been reported from the two Paloma targets for a total of 3,080 metres. Drilling is currently underway at Huancarama where ten holes have been completed thus far.Mineralized intervals from these four holes at Paloma West include: DDH #From - To (m)Core Length (m)Aug/tAgg/tCu %Cu-eq%*Au-eq g/t*SDH20-14532.4043.1010.77.25163.510.216.3424.99and59.9068.008.100.2853.84.064.707.19SDH20-146No significant resultsSDH20-14721.6033.8012.205.76252.02.988.9013.61and50.0055.005.004.0037.21.994.927.53SDH20-14819.3054.0034.700.2813.90.721.021.56including19.3026.006.700.4448.71.942.644.04and65.0076.2511.250.3615.70.560.931.42 * 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).Summary information for results reported in this release; all holes were drilled from a platform on the southwest side of the exposed breccia pipe:SDH20-145 - an additional intercept further down hole is reported with 8.1m of 0.28 g/t Au, 4.06% Cu, and 53.8 g/t Ag starting at 59.9m. This interval corresponds to a sulfide-tourmaline replacement structure with abundant chalcopyrite. The mineralized breccia intercept of 7.25 g/t Au, 10.2% Cu, and 163....