Chakana Copper (TSXV:PERU) - Fully Permitted to Drill Multiple New Targets

Interview with David Kelley, President & CEO of Chakana Copper Corp.Our previous interview: https://www.cruxinvestor.com/p....osts/chakana-copper- date: 13th September 2023Lima, Peru - Chakana Copper Corp. (TSXV:PERU) is rapidly advancing its flagship Soledad project, a high-grade gold-copper-silver discovery located in the prolific Ancash mining province of central Peru. Strategically positioned 35km south of Barrick’s Pierina mine, Soledad hosts near surface mineralization amenable to low-cost open pit mining.A maiden resource estimate outlines 109,000 ounces of gold equivalent grading 8.8 g/t AuEq within 650,000 tonnes starting at surface. This initial resource is based on shallow drilling at just seven breccia pipes within a 2km by 1km area, representing only 28% of the targets identified to date. Significant exploration upside remains to substantially expand resources by additional drilling at depth and testing new breccia pipes identified across the property.In 2019 Gold Fields Limited (NYSE:GFI) recognized this potential by investing $12 million into Chakana through a strategic partnership agreement. Gold Fields currently owns a 15% interest in Soledad. Their extensive due diligence validated the potential to delineate a much larger high-grade gold system.Chakana is now fully permitted to drill across the entire breccia pipe field and test additional compelling targets, most notably the Paloma porphyry target. Measuring 2.5km by 1km, Paloma exhibits a strong geophysical and geochemical signature typical of a mineralized porphyry system. The top of this anomaly starts approximately 125m below surface and provides a readily drillable target.A 4,000m drill campaign is planned for early 2023, with nine holes dedicated to testing the core of the Paloma porphyry target. Additional drilling will expand the high-grade resources around known breccia pipes. This drill program is designed to significantly increase resources and test the project’s tier-one discovery potential as endorsed by strategic partner Gold Fields.Renewed political stability in Peru is enticing mining investment back to the country following a volatile period since 2020. Major mining companies are now advancing multi-billion dollar projects, including the $5.3 billion Quellaveco copper mine under development by Rio Tinto and First Quantum. This reinforces Peru’s status as a premier global copper producer and stable mining jurisdiction.Chakana is currently completing a capital raise to fund its planned 2023 drill program. Strategic partner Gold Fields has signaled their support to follow their investment with additional funding. Drilling is expected to start in early 2023 once financing is secured.The current depressed market environment provides an opportunity for investors to gain exposure ahead of extensive exploration news flow in the coming year. Chakana offers leverage to high-impact drilling in Peru’s prolific mineral belts through a tight share structure and promising gold-copper project adjacent to multiple major mines.A significant discovery at the Paloma porphyry target would be transformational for Chakana, transitioning the project to a district-scale opportunity. Prospective investors can position themselves ahead of this potential value-creating event. With drilling slated to start shortly, a clear path to demonstrate the Soledad project’s world-class potential is expected over the coming year.
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