Among the latest highlights, Chakana intersected 119.4m at 1.14% copper, 3.36g/t gold and 61.3g/t silver from surface, as well as 115m from surface grading 0.59% copper, 1.66g/t gold and 56.5g/t silver.

Soledad is under option from Condor Resources and Chakana recently expanded its position to now have or earn a 100% interest in just over 2,000ha covering a cluster of nine known breccia pipes.

The company last month struck an option agreement to acquire 10 concessions from a Peruvian family for US$2.3 million, bought two smaller concessions from an individual for $200,000 and staked a further 217.63ha.

President and CEO David Kelley said the latest drilling results highlighted the high-grade nature of Breccia Pipe 1 from surface and said holes 54-57 also penetrated a lower mineralised zone.

"Our drill programme will continue to track this impressive mineralisation to depth," he said.

Chakana had working capital of C$8.6 million (US$6.6 million) at the end of February and in March raised C$8 million (US$6.2 million) in an increased a private placement at 90c per share.

Its shares closed C2c lower yesterday to 67c but remain up more than 8.4% year-to-date, capitalising it at $53.6 million.