#06-2024 OTCQB: CHKKF FRA: 1ZX CHAKANA COMMENCES DRILL PROGRAM TO TEST MEGA-GOLD, LA JOYA, AND ESTREMADOYRO - SOLEDAD PROJECT, PERU Soledad Project Highlights Include:
NEWS RELEASE
For Immediate Release TSX-V: PERU
#06-2024 OTCQB: CHKKF
FRA: 1ZX
CHAKANA COMMENCES DRILL PROGRAM TO TEST MEGA-GOLD, LA JOYA,
AND ESTREMADOYRO - SOLEDAD PROJECT, PERU
Soledad Project Highlights Include:
• Commenced fully-funded 3,000 m drill program on April 5, 2024.
• Drilling is focused on the southern half of the Soledad project in a new permit area.
• Drilling currently testing the Estremadoyro tourmaline breccia pipe.
• Immediate follow -on drilling will test the bulk -tonnage Mega-Gold copper -gold porphyry
target and the La Joya high-sulfidation epithermal gold-silver zone.
Vancouver, B.C., April 5, 2024 – Chakana Copper Corp. (TSX -V: PERU; OTCQB: CHKKF; FRA: 1ZX) (the
“Company” or “Chakana”), is pleased to announce that it has initiated a fully-funded 3,000m drill program at its
Soledad project in the Ancash province of Peru within the Miocene mineral belt.
“We are pleased to announce the start of our 3,000 m fully funded drill program to test three high priority targets on
the south half of the Soledad project where an expanded drill permit was granted in 2023. This is the first time we have
had the opportunity to drill on the south side of the Soledad project where we believe the intrusive center responsible
for the district zonation we see is located. There are numerous additional mineralized tourmaline breccias on the south
side, but for the first time we will be testing two bulk -tonnage targets – the giant Mega-Gold porphyry target, and
further south the La Joya high-sulfidation epithermal zone with preserved advanced argillic alteration and strong silver-
gold mineralization at surface. We are working with AK Drilling who has undertaken all of the 62,000-plus metres of
drilling for us dating back to 2017, so we expect this program to be efficient and safe,” stated President and CEO David
Kelley.
Drilling Program
Detailed information about the targets being tested in this drill program can be found in our previous news release on
February 29, 2024. Drilling will be done with a Duralite T800N drill rig with HQ diameter (6.35 cm/2.5 in.) depth
capacity to 500m and NQ diameter (4.76 cm/1.875 in.) core beyond that as warranted. The Duralite drill rig has a
smaller-sized platform requirement minimizing surface disturbance and the cost to construct and rehabilitate. Core will
be logged, photographed, cut, and sampled at site in a secure logging facility before batches of samples are transported
to ALS in Lima, Peru for assaying.
About Chakana Copper
Chakana Copper Corp is a Canadian -based minerals exploration Company that is currently advancing the Soledad
Project located in the Ancash region of Peru, a highly favorable mining jurisdiction with supportive communities. The
Soledad Project is notable for the high -grade copper-gold-silver mineralization that is hos ted in tourmaline breccia
pipes. An initial mineral resource estimate for seven breccia pipes was announced in Q1 2022 (see news release dated
February 23, 2022) , with an Inferred Resource of 4.8 million tonnes grading 0.72 g/t gold, 61 g/t silver and 0.97%
copper assumed to be extractable by underground mining methods, plus an additional Inferred Resource of 1.9 million
tonnes grading 1.29 g/t gold, 37.1 g/t silver and 0.65% copper assumed to be extractable by open pit mining
methods. The total initial Inferred Resource contains 191,000 ounces of gold, 11.7 million ounces of silver, and 130
million pounds of copper.
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In addition, extensive multidisciplinary exploration has defined 1 54 exploration targets, 28 of which have been tested
to date (1 8%), confirming that Soledad is a large, well -endowed mineral system with strong exploration upside.
Chakana’s investors are well positioned as the Soledad Project provides exposure to copper and precious metals. For
more information on the Soledad project, please visit the website at www.chakanacopper.com.
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.
Qualified Person
David Kelley, an officer, and a director of Chakana, and a Qualified Person as defined by NI 43 -101, reviewed and
approved the technical information in this news release.
ON BEHALF OF THE BOARD
(signed) “David Kelley”
David Kelley
President and CEO
For further information contact:
Investor Relations: Info
Email: [email protected]
Telephone: 720-233-2166
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
Exchange) accepts responsibility for the adequacy or accuracy of this release.
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 a ny 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 natur e 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.