News release
INTERS
COPPER
Vancouve
FWB: 1 Z
additional
optioned f
of the P i
successful
August 16
www.chak
sixty-three
which wi
expanded
breccia p i
(Main Zon
from a cen
“The drill
also demo
particularl
from surfa
253m that
Zone is a t
well beyo
a grade of
approxima
Ag (2.62%
from the N
confirms
exposed b
eleven (1
may repr e
confirmed
CHAKANA
ECTS ADD
R AND 1.18
AND
er, B.C., Ju
ZX) (the “C
l holes in Br
from Condo
erina mine
l continuati o
6, 2017, wi t
kanacopper.
e (63) holes
ll be suitab
due to the
ipe. Four o f
ne) and nine
ntral platform
l holes in t h
onstrating c o
ly interesting
ace, then pen
t we interpre
ttributed to h
nd the Main
f 2.41% Cu,
ately 30m be
% Cu_eq) fr
North Zone,
that we are
by weatherin
1) strongly a
esent surfa c
d pipes mapp
A COPPER
DITIONAL
g/t GOLD (
D 3.48 g/t G
une 26, 201 8
Company” o
reccia Pipe 1
r Resources
i n t h e p r ol
on of what
th the result s
com). This
drilled to da
le for futur
discovery o
f the holes
e holes were
m (Fig. 1).
he main zon e
ontinued hig
g as it has 2
netrates 74m
et as being p
hole 25 (se e
n Zone. That
3.57 g/t Au,
eneath this z
om 104.9m.
confirming
seeing the u
ng, and oth e
altered zone
ce expressi o
ped at surfac
NEWS
DISCOVE
HIGH-GRA
(2.38% Cu_
GOLD (3.75%
8 – Chakana
or “Chakan
1 (Bx 1) at i t
Inc. The So
lific Mioce n
has beco m
s of the firs t
Phase 1 dr i
ate out of an
e resource e
of a blin d br
reported he r
designed to
e were suc c
gh grades,”
233m of 0.85
m of 0.43% C
art of the No
e January 3 1
t hole hit 13m
, and 892.5 g
zone and retu
Hole 63 w a
the blind na
uppermost p
ers that may
es with she e
on of blind
ce (see May 2
S RELEASE
RS BLIND
ADE INTER
_EQ) AND
% Cu_EQ)
a Copper C
na”), is ple
ts Soledad c
oledad proje
ne metallog
me a definit i
t forty-one (
illing progra
n original pla
estimates. T
reccia body
re were de s
explore the
cessful in e x
said Presid e
5% Cu, 1.36
Cu, 0.43 g/t A
orth Zone (F
1, 2018 new
m of breccia
g/t Ag (12.37
urned 83.1m
as drilled ab
ature of the b
part of the b
not have b e
eted quartz-s
other blind
23, 2018 new
E
PIPE AT B
RVALS - 18
111 METRE
IN BRECC
Corp. (TSX-
ased to an n
opper-gold-
ct (the “Proj
genic belt o
ion drilling
(41) drill h o
am is ongoi n
anned progra
The original
immediately
signed to e x
blind brecci
xtending the
ent and CE O
6 g/t Au, an d
Au, and 47.5
Figs. 1 and 2
s release) w
a about 50m
7% Cu_eq).
m of 0.85% C
bove hole 25
breccia body
breccia pipe
een. Our m a
sericite-tourm
pipes. Thi s
ws release)”
BRECCIA P
87 METRE
ES WITH 1
CIA PIPE 1
-V: PERU;
nounce ass a
silver projec
ject”) is loca
f Peru. Th e
program t h
oles released
ng with a to t
am of 16,660
Phase 1 d r
y north of t h
xplore the m
ia body (Nor
mineralizat
O D av id K e
d 57.2 g/t A g
5 g/t Ag (1.1
). The disco
which we int
north of the
Hole 62 wa
Cu, 0.51 g/t A
5 without int
y. This is hig
s, some of w
apping to d a
maline veini
s i s i n a d di
”, states Kell
PIPE 1,
ES WITH 1.0
1.05% COP
OTC: CHK
ays from th i
ct in central
ated 35 km
ese results
hat was ini t
d previously
tal of 17,59 0
0m, the resu
rill progra m
he exposed
main brecci a
rth Zone) of
tion deeper w
lley. “Hole
g (2.24% Cu
12% Cu_eq)
very of the N
entionally d
e Main Zone
as designed t
Au, and 166
tersecting br
ghly relevant
which have
ate has ide n
ing that we
ition to the
ley.
05%
PPER
KKF;
irteen
Peru,
south
are a
tiated
(see:
0m in
ults of
m w a s
main
a p i p e
f Bx 1
while
59 is
u_eq)
from
North
drilled
e with
to test
6.8 g/t
reccia
t as it
been
ntified
think
nine
- 2 -
New mineralized intervals from Breccia Pipe 1 are:
Main Zone Targeted Holes
DDH #
Az Dip
From - To
(m)
Core
Length (m)
Au
g/t
Ag
g/t Cu %
Cu-
eq
%*
Au-
eq
g/t*
Note
SDH18-058 195 -85 0.00 18.00 18.00 4.71 25.1 5.04
and 43.70 175.00 131.30 1.85 62.0 1.44 3.19 4.87
SDH18-059 325 -82 0.00 233.00 233.00 1.36 57.2 0.85 2.24 3.42
including 0.00 46.00 46.00 2.11 26.1 2.45
including 46.00 233.00 187.00 1.18 64.9 1.05 2.38 3.63
and 253.00 327.00 74.00 0.43 47.5 0.43 1.12 1.71 North Zone
and 356.00 359.00 3.00 2.25 31.5 0.16 1.91 2.92
SDH18-060 240 -82 0.00 22.00 22.00 4.27 18.4 4.51
and 52.00 128.00 76.00 1.89 84.4 1.86 3.82 5.84
and 180.00 283.30 103.30 1.10 264.5 1.16 4.14 6.32
SDH18-061 274 -80 0.00 22.20 22.20 5.61 32.7 6.04
and 37.80 135.00 97.20 2.41 50.9 0.97 2.98 4.55
and 156.00 216.70 60.70 0.40 95.1 2.14 3.22 4.92
North Zone Targeted Holes
SDH18-062 355 -60 0.00 31.00 31.00 4.95 13.3 5.13
and 45.00 78.00 33.00 4.16 27.0 1.20 4.16 6.34
and 104.90 188.00 83.10 0.51 166.8 0.85 2.62 4.00 North Zone
SDH18-063 355 -40 0.00 49.00 49.00 2.55 8.8 2.67
SDH18-064 358 -70 0.00 31.00 31.00 5.19 13.9 5.37
and 41.00 92.00 51.00 3.79 33.3 1.05 3.83 5.84
and 195.00 213.00 18.00 0.18 118.1 0.99 2.12 3.24 North Zone
and 227.00 230.70 3.70 1.45 195.6 2.44 5.07 7.74
and 274.05 284.00 9.95 0.66 23.9 0.16 0.80 1.22
SDH18-065 348 -77 0.00 116.00 116.00 3.52 45.7 0.87 3.57 5.45
including 0.00 40.00 40.00 4.81 24.2 5.13
including 40.00 116.00 76.00 2.85 57.0 1.31 3.67 5.60
and 222.00 264.00 42.00 0.63 79.4 0.64 1.74 2.65 North Zone
and 292.60 397.00 104.40 1.16 35.9 0.87 1.94 2.96 North Zone
SDH18-066 338 -52 0.00 36.00 36.00 2.99 8.7 3.11
and 48.00 55.30 7.30 7.05 48.0 1.03 6.06 9.25
and 104.00 107.00 3.00 3.54 200.5 0.35 4.38 6.69
SDH18-067 339 -64 0.00 25.00 25.00 3.88 13.5 4.06
and 41.00 84.60 43.60 5.90 47.5 1.80 6.07 9.27
and 120.90 125.70 4.80 1.96 402.9 0.89 5.63 8.60
and 153.00 193.00 40.00 0.54 156.3 0.80 2.49 3.81 North Zone
SDH18-068 338 -77 0.00 127.00 127.00 3.70 62.9 0.92 3.89 5.94
including 0.00 39.00 39.00 6.17 31.1 6.57
including 39.00 127.00 88.00 2.61 77.1 1.32 3.69 5.64
and 172.80 180.60 7.80 0.17 29.2 0.41 0.77 1.18
and 197.00 202.00 5.00 0.21 147.1 0.91 2.30 3.52 North Zone
and 225.00 227.00 2.00 0.09 104.0 0.63 1.58 2.42 North Zone
and 246.00 260.00 14.00 0.30 51.3 0.67 1.31 2.00 North Zone
and 315.45 318.55 3.10 0.63 262.8 2.25 4.91 7.50
and 358.45 362.00 3.55 0.12 32.0 0.60 0.95 1.46
SDH18-069 003 -65 0.00 90.00 90.00 3.41 17.5 0.39 2.77 4.23
including 0.00 44.00 44.00 3.47 11.5 3.62
including 44.00 90.00 46.00 3.34 23.2 0.73 3.12 4.77
and 109.80 135.50 25.70 0.43 58.2 0.11 0.89 1.37
and 195.90 213.75 17.85 0.40 91.9 2.98 4.04 6.17 North Zone
and 264.30 276.20 11.90 0.37 49.0 0.42 1.08 1.65 North Zone
SDH18-070 002 -79 0.00 111.55 111.55 3.48 48.4 1.05 3.75 5.73
including 0.00 40.00 40.00 4.38 20.1 4.65
including 40.00 111.55 71.55 2.98 64.2 1.63 4.13 6.31
and 277.50 293.75 16.25 0.55 66.0 0.86 1.79 2.73 North Zone
* 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).
- 3 -
Reported mineralized intervals are not true widths given the vertical nature of the breccia pipe and
the steep inclination of the holes.
Sampling and Analytical Procedures
Chakana follows rigorous sampling and analytical protocols that meet industry standards.
Samples for assay are stored in a secured area until transport in batches 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 blan k and duplicates samples. All
samples are analyzed using the ME -MS41 procedure in order to ob tain a comprehensive multi-
element overview of the geochemistry. Gold is analyzed by ME-MS 41 (considered to be least
reliable), AA24 (higher precision) 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 Ch akana’s SEDAR profile at
www.sedar.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 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, performanc e, 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 Project, the potential to expand the mineralization, the planning for
further exploration work, the ability to de-risk the potential exploration targets, and our belief about the unexplored
parts of the Soledad 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.
Figure 1 –
release. Lig
holes show
data from 50
Section looki n
ht red 3D shap
tourmaline bre
0m in front of
ng west show
pes based on L
eccia (red), and
and behind sec
OPEN
ing the Main
eapfrog model
desitic wall roc
ction.
OP
- 4 -
and North B r
l of breccia fro
ck (green), and
PEN
reccia bodies a
om all holes dri
d other host roc
at B x 1 h i g h li
illed by Chaka
cks (other colo
ighting holes i
ana. Highlighte
ors). Section in
in this
ed drill
ncludes
Figure 2 – M
in Bx 1: A)
2018 news r
cemented br
abundant ch
Mineralized int
SDH17-025 hi
release); B) SD
reccia with abu
halcopyrite and
tercepts from f
igh grade inter
DH18-058 high
undant chalcop
d reddish-brow
four holes discu
rcept now cons
h grade mineral
pyrite from the
n sphalerite.
- 5 -
ussed in this re
sidered the disc
lization from th
North Zone; D
elease showing
covery hole of
he Main Zone;
D) SDH18-064
g different style
the North Zon
; C) SDH18-05
4 high grade sh
es of mineraliza
ne (see January
59 dense tourm
hingle breccia w
ation
31,
maline-
with