Chakana Copper Initiates Phase 2 Drill Program at Soledad Drilling Begins ON Breccia Pipes 3 and 6
CHA
Vancouve
CHKKF;
approval fr
drill permi
relocate tw
Chakana. C
Soledad P r
agreements
The Comp
allow an a
stages of
modified t
other brecc
submitted t
from Barri
Breccia Pi
Breccia pip
breccia pip
and west z
values from
surface di a
textures f r
including c
Soledad P
Chakana b
potential o
have been
pipe adjace
been comp
mineralizat
drilling at B
1.18 g/t Au
Cu, 1.68 g/
dated June
AKANA CO
D
er, B.C., A
; FWB: 1ZX
fro m t he I ns ti
it at its Sole d
wo drill platf o
Construction
ro j e c t w a s op
s for an 100%
pany is await i
additional 160
approval wi t
o further ex p
cia pipes an d
to allow drill
ck (see news
ipes 3 and 6
pes 3 and 6 h
pes (Fig. 2; se
zone, with the
m surface com
ameter of ap p
rom both Bx
classic shingle
hase 1 Drillin
egan a Phase
f several quar
drilled to-dat
ent to Bx 1 (s
pleted at Bx 1
tion is still op
Bx 5 are forth
u, and 64.9 g/
/t Au and 27.4
26 and Febru
OPPER INI
DRILLING
August 15,
X) (the “Com
ituto Geológ i
dad copper-g o
orms to brecc
of platforms
ptioned from
% interest in 3
ing approval
0 platforms t h
th INGEM M
pand drilling
d targets. A s e
ling breccia p
release dated
have strong s
ee news releas
e principal bre
mposite rock
proximately 2
3 and Bx 6
e breccia (Fig
ng Update
1, 16,000m d
rtz-tourmaline
te in 68 holes.
ee news relea
down to appr
pen at depth in
hcoming. Hig
/t Ag (2.38%
4 g/t Ag (1.84
uary 22, 2018
NEWS
ITIATES PH
BEGINS O
2018 – C
mpany” or “
ico Minero y
old-silver pro
cia pipes 3 E
is complete, a
Condor Re s
,086 hectares
of its Semi- d
hroughout the
MET and is a
on the Palo m
eparate perm
pipes in the C
d July 16, 201
surface geoch
ses dated May
eccia in the e
chip and ch a
25m and gol d
6 a r e s i m i l a r
g. 3).
drill program
e-sulfide brec
. The drill pro
ase dated June
roximately 45
n Bx 1 and B
ghlights from
Cu_eq or 3.6
4% Cu_eq or
8 at www.seda
S RELEASE
HASE 2 DR
ON BRECCI
hakana C o
“Chakana”)
Metalúrgico
oject in centr a
East (Bx 3E) a
and drilling h
ources Inc. a
s covering 14
detailed Envir
e original Co
anticipated s o
ma (East and
mit, Declaratio
ompañero clu
8 at www.sed
hemical respo
y 23 and July
east zone havi
annel samplin
d values up t
to the mine r
in August of
ccia pipes tha
ogram was ex
e 26, 2018 at
50m and at B
x 5. Final ass
Chakana dril
3 g/t Au_eq)
2.82 g/t Au_
ar.com).
E
RILL PROG
IA PIPES 3
opper Cor p
), is pleased t
(INGEMM E
al Peru (the “
and 6 (Bx 6)
has commenc
and subsequ e
known miner
ronmental Im
ndor option a
oon. Once a
West), Hua n
on of Enviro n
uster from the
dar.com).
onse in gold s
y 16, 2018). B
ing surface d
ng are up to 5
to 2.1 g/t A u
ralized b recc
f 2017 designe
at crop out at s
xpanded after
www.sedar.c
x 5 down to a
say results fro
ling to date in
from 46m in
_eq) from 12m
GRAM AT S
3 AND 6
p. (TSX-V :
to announce t
ET Perú) to m
“Soledad Pr
, both not pr e
ced with two d
ently has exp
ralized brecci
mpact Study (
area. This pe
approved, th e
ncarama Bre c
nmental Impa
e concessions
similar to th e
Breccia pipe 3
dimensions of
5.9 g/t Au. B r
u in previous
cias drilled a
ed to determin
surface. A tot
discovery of
com). Definiti
approximately
om Bx 1 and
nclude: 187.0
Bx 1, and 16
m in Bx 5 (see
SOLEDAD
: PERU; O
that it has re c
modify its e x
oject”) in or d
eviously drill
diamond rigs
panded with o
ia pipes (Fig.
(EIA-SD) tha
rmit is in th e
e E I A - S D w
ccia Comple x
act (DIA), is
s recently acq
e other miner a
consists of a
f 60m x 40m.
reccia pipe 6
sampling. B r
t B x 1 a n d
ne the econom
tal of 18,600m
f a blind brecc
ion drilling ha
y 400m;
from addition
0m of 1.05% C
64.0m of 0.51
e news release
OTC:
ceived
xisting
der to
led by
. The
option
1).
at will
e final
will be
x, and
being
quired
alized
an east
Gold
has a
reccia
Bx 5,
mic
m
cia
as
nal
Cu,
%
es
- 2 -
Soledad Phase 2 Drilling
The fully funded Phase 2 drill program of 20,000m will consist of exploration and de finition drilling on
additional mineralized breccia pipes and targets leading to a m aiden resource. The drilling will include Bx
3E, Bx 6, and subsequently the P aloma and Huancarama Breccia Co mplex pipes once the EIA-SD is
approved and modified to include concessions south of the original Condor concessions.
Sampling and Analytical Procedures
Chakana follows rigorous sampling and analytical protocols that meet industry standards. Analytical
results in this release are based on composite rock chip and ch annel samples over a 1 x 2m area. Samples
for assay are stored in a secur ed area until transport in batch es to the ALS facility in Callao, Lima, Peru.
Samples are processed under the control of ALS with the samples including certified reference materials, a
coarse and finely-crushed blank and duplicates samples. All sam ples are analyzed using the ME-MS41
procedure in order to obtain a c omprehensive multi-element over view of the geochemistry. Gold is
analyzed by ME-MS41 (not considered reliable), AA24 (higher pre cision) and GRA22 when values
exceed 10 g/t. Over limit silver, copper, lead and zinc is analyzed using the OG-46 procedures.
Additional information concerning the Project is available in a technical report prepared in accordance
with National Instrument 43-101 made available on Chakana’s SED AR profile at www.sedar.com and at
www.chakanacopper.com.
Qualified Person
David Kelley, an officer and a director of Chakana, and a Quali fied 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:
Michelle Borromeo, Manager – Corporate Communications
Phone: 604-715-6845
Email: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Prov ider (as that term is defined in the policies of the
Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release may contain forward-looking st atements. Forward-looking statements invo lve known and unknown risks, uncertainties, and other
factors which may cause the actual results, pe rformance, or achievements of Chakana to be materially different from any future results,
performance, or achievements expressed or implied by the forward- looking statements. Forward look ing statements or information relates to,
among other things, the interpretation of the nature of the mine ralization at the Project, the potential to grow the Project, t he potential to expand
the mineralization, the ability to de-risk the potential exploration targets, the ability to complete a maiden inferred resource on the Soledad Project
and our belief about the unexplored parts of the Project. These fo rward-looking statements are based on management’s current ex pectations and
beliefs but given the uncertainties, assumptions and risks, reade rs are cautioned not to place undue reliance on such forward- looking statements
or information. The Company disclaims any obligation to update, or to publicly announ ce, any such statements, events or develop ments except as
required by law.
Figure 1 –
breccia pipe
Map showing
es (red circles),
the entire 10 0
, and potential
0% Chakana-c
blind (subcrop
- 3 -
ontrolled land
pping to buried
position (blac
d) breccia pipes
ck outline), c o
s (red stars).
onfirmed miner
ralized
Figure 2 – M
samples col
of the samp
samples are
Maps showing
lected by Cond
ling and analyt
, by nature, sel
gold in surface
dor Resources
tical methods s
lective and are
e rock samples
and Mariana R
see www.chaka
unlikely to rep
- 4 -
s collected by C
Resources over
anacopper.com
present average
Chakana over (
r (B) Bx 6. For
m. Readers are
e grades on the
(A) Bx 3E and
r additional resu
e cautioned tha
e Project.
Bx 3W, and
ults and a discu
at surface rock
ussion
Figure 3 – I
and Bx 3W
extending d
sulfides, (C)
quartz-tourm
mages showin
(dashed circle
downslope from
) Bx 3E chaoti
maline breccia
g surface expre
s show areas o
m Bx 3W; (B) B
c shingle brecc
with abundant
essions and bre
of principal out
Bx 3E shingle
cia; and Bx 6 (
t iron oxides af
- 5 -
eccia textures i
tcrops and large
breccia showin
D) outcropping
fter sulfides, (F
in Bx 3 (A) Go
e displaced blo
ng dark tourma
g breccia pipe,
F) Bx 6 shingle
oogle Earth im
ocks), note larg
aline matrix an
, note person fo
e breccia in out
age showing B
ge debris field
nd iron oxides a
or scale, (E) Bx
tcrop.
Bx 3E
after
x 6