Business
Chakana Reports 15.2 Metres of 2.1% Copper at Paloma East - Soledad Project, Peru
Vancouver, British Columbia--(Newsfile Corp. - September 17, 2020) -   Chakana Copper Cor...
About this update from Chakana Copper Corp.
[{"type":"text","content":"Chakana Reports 15.2 Metres of 2.1% Copper at Paloma East - Soledad Project, PeruWithin 172.7 Metres of 0.31 g/t Gold, 0.34% Copper, and 13.1 g/t Silver From SurfaceVancouver, British Columbia--(Newsfile Corp. - September 17, 2020) -  Chakana Copper Corp. (TSXV: PERU) (OTCQB: CHKKF) (FSE: 1ZX) (the \"Company\" or \"Chakana\"), is pleased to provide drill results from the first three of five drill holes completed at the Paloma East target within the expanded Soledad Project in Ancash, Peru. These results are part of the 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 high-priority Paloma area and will then continue onto the Huancarama breccia complex (Fig. 1).Mineralized intervals from Paloma East thus far include:Paloma East - Exploration HolesDDH #AzDipFrom - To(m)Core Length (m)Aug/tAgg/tCu %Cu-eq%*Au-eq g/t*NoteSDH20-133325-6513.85147.70133.850.2313.20.380.640.98including18.5026.007.51.5558.90.121.642.50including132.00147.7015.70.5024.20.891.422.18Margin zoneSDH20-134305-7015.20171.00155.800.158.80.310.480.74including15.20102.0086.800.2212.40.440.691.06including64.0080.0016.000.1211.30.931.111.69SDH20-13566-660.00172.70172.700.3113.20.340.661.00including5.0014.059.051.5715.60.141.301.99including28.00113.0085.000.3715.40.631.001.54including44.8060.0015.200.3138.82.102.634.03Margin zone* 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 zones of mineralization were encountered in all three holes. Gold enrichment is noted in the top of holes SDH20-133 and SDH20-135, with intercepts of 7.5 metres with 1.55 g/t gold and 58.9 g/t silver from 18.5 metres depth, and 9.05 metres with 1.57 g/t gold and 15.6 g/t silver from 14.05 metres depth, respectively. Longer intervals of moderate grade mineralizati...