CHKKF - Chakana Copper Corp (CHKKF)(PERU:CA) - The Initial Resource Estimate Is Not Expected to Be an End Point

Latest drill results. Resource definition drilling at Breccia Bx 1 has entailed 62 drill holes, representing 17,936 meters of drilling. Chakana released drill results from the final 7 resource definition holes from Bx 1 that provided strong readings that were consistent with previous drill results. Additional resource definition drill results for Bx 5 and Huancarama are pending.Initial resource estimate expected in Q4' 2021. The company expects to release an initial resource estimate in the fourth quarter of 2021 which will include Bx 1, Bx 5, Bx 6, Paloma East, Paloma West, and Huancarama down to a depth of 300 meters. While Chakana's near-term focus is the completion of the initial resource estimate, the company still has ground to cover in terms of defining Soledad's full resource potential. Because they have never identified the bottom of a breccia pipe, considerable resources could be contained at depth. As part of its exploration program, Chakana may decide to drill down to 600 meters in 2022.Geophysical surveys. Two different types of geophysical surveys are being tested to identify new breccia pipe targets and help refine the ranking of the 110 targets identified to date. These include gradient array and 3D induced polarization orientation surveys which will be applied throughout the Soledad mineral system.Rating is Outperform. The company's exploration and drilling program has yielded successful outcomes. Since 2017, a total of 259 diamond core holes have been completed, representing 60,225 meters of drilling. The results have been outstanding and we have been impressed with the level of consistency. While the company expects to publish an initial resource estimate by year-end, significant potential will remain for resource expansion. Read More >>