Soledad Project Highlights Include:
- Remaining 13 resource definition and exploration holes at Huancarama reported totalling 3,265m
- Two additional high-grade intervals of >50m lengths also reported
- 56.15 m @ 0.45 g/t Au, 115.1 g/t Ag, and 2.34% Cu (3.62% Cu-EQ)
- 54.90 m @ 0.63 g/t Au, 81.7 g/t Ag, and 2.41% Cu (3.52% Cu-EQ)
- Off-set IP surveys continue over high priority targets defined by gradient array and other data sets; numerous new targets have been defined
- Finalizing first-ever resource estimate on the Soledad Project
- 16 out of 110 current targets have been tested to date (15%)
Vancouver, British Columbia--(Newsfile Corp. - January 4, 2022) - Chakana Copper Corp. (TSXV: PERU) (OTCQB: CHKKF) (FSE: 1ZX) (the "Company" or "Chakana"), is pleased to provide results from thirteen additional resource definition and exploration holes drilled in Huancarama totaling 3,265m at the Soledad project, Ancash, Peru (see table below). The resource drilling is part of a fully funded exploration and resource drilling program completed in 2021 (Fig. 1). These results compliment previous results from Huancarama and will increase confidence in the initial resource estimate covering several breccia pipes, which is currently being finalized.
"The multiple high-grade intercepts from Huancarama are a fitting conclusion to the 2020-2021 resource drilling program at Soledad. Since restarting the drill program in August of 2020, we have completed over 30,000m of drilling in 143 drill holes. The initial resource estimate on the shallower extent of several breccia pipes, a first for the project, is nearing completion and will help us better understand the upside potential of the broader Soledad project. Mineralized tourmaline breccia pipes occur within a 12 km2 area, within which we have defined 110 targets through systematic multidisciplinary exploration. Only 16 out of the 110 targets have been tested thus far. In addition, the current geophysical program has defined numerous new targets within the known productive structural corridors that host mineralized breccia pipes," stated President and CEO, David Kelley.
Results
Huancarama (Resource Definition)
| DDH # | From - To (m) | Core Length (m) | Au
g/t | Ag
g/t | Cu
% | Cu-eq
%* | Au-eq g/t* |
| SDH21-254 | 81.20 | 154.00 | 72.80 | 0.98 | 87.4 | 0.53 | 1.93 | 2.89 |
| including | 125.00 | 145.00 | 20.00 | 2.61 | 222.3 | 1.06 | 4.67 | 7.14 |
| and | 181.00 | 199.00 | 18.00 | 0.73 | 47.3 | 0.19 | 1.07 | 1.64 |
| SDH21-257 | 71.00 | 82.00 | 11.00 | 0.34 | 64.8 | 0.18 | 0.96 | 1.46 |
| and | 90.00 | 103.00 | 13.00 | 0.26 | 65.5 | 0.22 | 0.95 | 1.45 |
| and | 124.00 | 166.00 | 42.00 | 0.31 | 34.9 | 0.77 | 1.27 | 1.94 |
| SDH21-259 | 92.00 | 99.00 | 7.00 | 1.08 | 333.9 | 1.92 | 5.48 | 8.38 |
| SDH21-263 | 155.00 | 196.00 | 41.00 | 0.52 | 32.0 | 0.51 | 1.12 | 1.72 |
| SDH21-265 | 74.00 | 168.00 | 94.00 | 0.37 | 45.9 | 0.82 | 1.45 | 2.22 |
| including | 102.00 | 119.00 | 17.00 | 0.80 | 76.6 | 1.90 | 3.08 | 4.71 |
| SDH21-266 | 54.00 | 161.85 | 107.85 | 0.46 | 62.7 | 0.72 | 1.56 | 2.38 |
| and | 169.00 | 173.00 | 4.00 | 1.39 | 281.0 | 7.38 | 10.69 | 16.35 |
| SDH21-267 | 124.00 | 146.00 | 22.00 | 2.71 | 162.5 | 1.91 | 5.07 | 7.76 |
| SDH21-268 | 59.00 | 61.00 | 2.00 | 0.64 | 611.4 | 12.35 | 18.00 | 27.53 |
| and | 64.00 | 65.00 | 1.00 | 0.27 | 189.0 | 11.50 | 13.29 | 20.33 |
| and | 72.00 | 172.00 | 100.00 | 0.36 | 39.9 | 0.63 | 1.21 | 1.85 |
| SDH21-269 | 79.00 | 143.00 | 64.00 | 0.46 | 32.2 | 0.64 | 1.22 | 1.86 |
| SDH21-271 | 168.30 | 219.00 | 50.70 | 0.63 | 118.8 | 3.46 | 4.89 | 7.48 |
| including | 168.30 | 189.00 | 20.70 | 1.12 | 181.8 | 6.64 | 8.93 | 13.65 |
| SDH21-273 | 170.85 | 227.00 | 56.15 | 0.45 | 115.1 | 2.34 | 3.62 | 5.53 |
| including | 173.00 | 180.00 | 7.00 | 1.02 | 393.7 | 9.17 | 13.20 | 20.20 |
| and | 274.00 | 281.00 | 7.00 | 1.12 | 92.2 | 2.22 | 3.74 | 5.72 |
| SDH21-275 | 43.00 | 47.10 | 4.10 | 0.67 | 91.2 | 0.17 | 1.39 | 2.12 |
| and | 167.10 | 222.00 | 54.90 | 0.63 | 81.7 | 2.41 | 3.52 | 5.38 |
| including | 167.10 | 177.00 | 9.90 | 1.62 | 230.4 | 5.93 | 8.96 | 13.70 |
| and | 277.00 | 285.00 | 8.00 | 0.40 | 31.4 | 1.03 | 1.56 | 2.39 |
* 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).