'We are pleased to announce final drill plans for a 3,000 m fully-funded drill program to test several exceptional targets defined on the south half of the Soledad project where an expanded drill permit was granted in 2023. The majority of the drilling will focus on the Mega-Gold porphyry target defined by a very large 2.5 km2 soil gold anomaly, accompanied by pervasive phyllic alteration locally overprinted with advanced argillic alteration, and very strong induced polarization chargeability responses. We believe that the Mega-Gold target is centered on a mineralized intrusion that is related to the tourmaline breccia pipes and the high-sulfidation epithermal (HSE) alteration, forming a 12 km2 zoned mineral system. Additional drilling will be conducted at the La Joya HSE zone and the Estremadoyro tourmaline breccia pipe,' stated President and CEO
Exploration Targeting and Drilling Program
Three principal target areas have been chosen for drilling to start by
Mega-Gold Copper-Gold Porphyry Target
The Mega-Gold target is a very large area occupying 2.5 km2 with anomalous gold in soil overlying pervasive tourmaline-quartz-white mica alteration, overprinted by localized advanced argillic alteration zones and tourmaline breccias. The target area is oriented northeast and is underlain by older andesitic tuff (Calipuy Formation) and a pre-mineral granodiorite, thought to be the first pulse of intrusive activity in the Soledad mineral system. Within the anomaly is a distinct Offset (3D) induced polarization chargeability feature with a similar orientation as the soil anomaly. Modelling shows the chargeability feature to be a vertical intrusive or pipe-like body on the south side of the Lincuna fault with a sub-horizontal 'blanket-like' feature extending up the hill to the southwest. Soil gold values over the vertical chargeability body reach up to 0.325 g/t. The vertical body is interpreted to be a high-level blind intrusion cutting the earlier granodiorite. The planned drilling will test these features for gold and base metal mineralization.
La Joya High-Sulfidation Epithermal (HSE) Target Area
The La Joya target area is associated with high-sulfidation advanced argillic alteration consisting of vuggy silica, alunite, dickite, zunyite, diaspore, and pyrophyllite. The zone of alteration extends 700 metres in a north-south direction at an elevation of approximately 4,500 metres. Surface rock samples collected from the alteration zone have silver and gold values up to 1,300 g/t and 0.36 g/t, respectively. An access road from off-property leads to five scattered historic drill pads on the southernmost 200 metre segment of La Joya, and locals report that Buenaventura completed seven short drill holes, encountering silver mineralization and some gold. We are unable to confirm the Buenaventura history with a QP.
Estremadoyro Tourmaline Breccia Pipe
The Estremadoyro breccia pipe is exposed along the road near the bottom of the valley and has artisanal workings where copper oxides are clearly visible. Rock samples from breccia exposures reported values up to 1.25 g/t gold, 0.57% copper, and 37.6 g/t silver. The mapped tourmaline breccia is coincident with a distinct conductivity and metal factor (function of chargeability and conductivity) response.
The Company is pleased to announce that it will be exhibiting at the
About
In addition, extensive multidisciplinary exploration has defined 154 exploration targets, 28 of which have been tested to date (18%), confirming that Soledad is a large, well-endowed mineral system with strong exploration upside. Chakana's investors are well positioned as the
Results of an initial inferred mineral resource estimate and additional information concerning the Project, including a technical report prepared in accordance with National Instrument 43-101, are available on Chakana's profile at www.sedar.com.
Contact:
President and CEO
Tel: 720-233-2166
Email: info@chakanacopper.com
Forward-looking Statement Advisory: This release may contain forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Chakana to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information relates to, among other things, the interpretation of the nature of the mineralization at the Soledad copper-gold-silver project (the 'Project'), the potential to expand the mineralization, and to develop and grow a resource within the Project, the planning for further exploration work, the ability to de-risk the potential exploration targets, and our belief in the potential for mineralization within unexplored parts of the Project. These forward-looking statements are based on management's current expectations and beliefs but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.
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