VANCOUVER, British Columbia, Sept. 10, 2019 (GLOBE NEWSWIRE) -- Chakana Copper Corp. (TSX-V: PERU; OTCQB: CHKKF; FRA: 1ZX) (the “Company” or “Chakana”), is pleased to announce that drilling has encountered an unexpected tabular body of mineralized breccia in close proximity to Breccia Pipe 5 (Bx 5). The body is very well mineralized, open and has important exploration implications to all the targets at Soledad. These results are part of Chakana’s fully funded 20,000m Phase 3 drill program at the Soledad copper-gold-silver project in central Peru.
Bx 5 East Target
There are twenty-three confirmed outcropping breccia pipes identified to date on the property (Fig. 1). Previous drilling at Bx 5 had outlined a mineralized, east-plunging breccia pipe to a depth of approximately 300m (see news release dated February 22, 2018, November 13, 2018, and January 10, 2019). Bx 5 is situated at the intersection of east and north-northeast trending structures. Two holes were drilled to test immediately east and down-plunge of the known breccia pipe from a step-out platform located 135m south-southeast from previous drilling at Bx 5 (Figs. 2 and 3). Both holes intersected long sections of mineralized breccia in a body that extends east and north of the known breccia pipe. These two holes returned 144m with 0.88 g/t Au, 0.88% Cu, and 13.6 g/t Ag in SDH19-126, and 172m with 0.29 g/t Au, 0.93% Cu, and 8.4 g/t Ag in SDH19-127. Important margin zone mineralization was also encountered in each hole, where grades are significantly higher. Assays are pending from a third hole (SDH19-128) that was drilled into the zone from a platform to the north (Fig. 3). Additional drilling is planned to follow this high-grade zone to depth.
“This is a significant development in the understanding of mineralization around Bx 5. The orientation of the breccia zone plunges to the north and is open at depth. While previous drill results on Bx 5 were favorable, this new zone has higher grades and has mineralized margin zones, something we have not seen since drilling at Bx 1. It may indicate that this new zone is a separate blind breccia pipe that intersects the breccia pipe that crops out at surface. Alternatively, we could be seeing zoning to higher grade copper with depth,” said President and CEO David Kelley. “These results indicate the importance of continued drilling once a favorable structure has been discovered. Breccia pipe mineralization at Soledad is zoned both vertically and horizontally, blind pipes exist, and high-grade domains are important,” added Kelley. Examples of mineralized breccias from holes in this release are shown in Figures 4 and 5.
Mineralized intervals from Bx 5 East include: