Interview with David Kelley, President & CEO of Chakana Copper Corp.
Our previous interview: www.cruxinvest...
Recording date: 5th September 2024
Chakana Copper Corp. (TSXV:PERU) has recently completed a significant 3,000-meter drill program at its Soledad project in Ancash, Peru, yielding promising results that could attract investor interest. The program, focused on the southern portion of the property, has resulted in two new discoveries and refined targets for future exploration.
The first major discovery is the Estremadoyro breccia pipe, which hosts high-grade copper-gold-silver mineralization starting at the surface and remaining open at depth. Notably, this is the first instance of bornite mineralization found in the project's breccia pipes, potentially indicating higher-grade copper content. This discovery reinforces the ongoing potential of the breccia pipe story at Soledad.
The second significant find is at the La Joya target, where drilling intercepted substantial silver mineralization within a high-sulfidation epithermal system. The best intercept returned over a kilogram of silver per tonne over a narrow interval, within a broader zone of 42 meters averaging 323 g/t silver. This discovery opens up new possibilities for a standalone precious metals opportunity within the broader Soledad project.
In addition to these discoveries, the company has made progress in refining its Mega-Gold porphyry target. While not yielding immediate high-grade intercepts, the drilling program provided crucial information for vectoring towards potential porphyry targets, reducing the search space from 2.5 square kilometers to 1 square kilometer.
Chakana's current focus is on expanding its existing high-grade resource from 6.7 million tons to approximately 10 million tons. The company believes that achieving this target could potentially support a mining operation, given the high-grade nature of the mineralization and its near-surface location.
Looking ahead, Chakana is planning a follow-up 5,000-meter drill program to further test the most promising targets. This program will likely allocate resources across the Compañero breccias (pending final permits), the refined Mega-Gold porphyry target, and the La Joya epithermal zone.
For investors, Chakana presents an interesting opportunity in the junior mining sector. The company's multi-faceted approach, focusing on high-grade breccia pipes, epithermal precious metals, and porphyry copper-gold potential, provides multiple avenues for potential success. The use of advanced exploration techniques, such as hyperspectral core scanning, may increase the efficiency of future drilling programs.
However, it's important to note that Chakana is still in the exploration stage, and the path from discovery to a producing mine is long and capital-intensive. Investors should be aware of the risks inherent in junior mining exploration, including potential share dilution, commodity price volatility, and the technical and financial challenges of advancing a project.
The planned follow-up drilling program in Q4 2024 will be a key catalyst to watch. Positive results could provide further validation of the project's potential and guide the company's future direction. For investors with a high risk tolerance and a long-term outlook, Chakana Copper offers exposure to a range of potential outcomes in one of the world's premier mining jurisdictions.
View Chakana Copper's company profile: www.cruxinvest...
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18 сен 2024
