Bx7 is one of 23 outcropping breccia pipes Chakana has identified at Soledad and it is only the fifth to be drill tested. The initial four shallow holes were designed to explore the uppermost 200m segment and provide some indication of pipe geometry and grade distribution.
"These initial scout drilling results are excellent in that they confirm a fourth mineralised breccia pipe on the property. … It is difficult to determine the geometry of the pipe with just four drill holes, but we currently estimate the diameter between 40-50m," said president and CEO David Kelley.
Chakana is undertaking a phase III drill programme comprising 20,000m to test a variety of targets and complete additional definition drilling. The strategy is to drill about 750m into each target in accordance with permitting and ranking criteria to further determine if closer-spaced drilling is justified.
Shares in Chakana Copper (TSXV:PERU) are trading at 34¢, valuing the company at C$33 million. Its share price has fallen about 13% so far this year.