Inferred resources were estimated for seven breccia pipes that start at surface and extend to an average depth of about 300m, with the pipes exhibiting strong zonation between gold, copper and silver.
The inferred resource is 4.8 million tonnes grading 0.72 grams per tonne gold, 61g/t silver and 0.97% copper extractable by underground mining methods and an open pittable resource of 1.9Mt grading 1.29g/t gold, 37.1g/t silver and 0.65% copper. The estimate is based on metal price assumptions of US$1,600 per ounce gold, US$20/oz silver and US$3.50 per pound copper.
"This initial inferred resource is particularly valuable for assessing the broader discovery potential of the project. So far, we have only drill tested 16 out of the 110 targets originally defined back in 2019, leading to seven of those targets being included in the initial resource estimate and several other mineralised targets identified," said Chakana Copper president David Kelley.
Chakana has drilled 260 holes for 60,850m at Soledad, and recently completed gradient array and ongoing offset IP surveys, which identified numerous new targets.
Shares in Chakana Copper are trading at C27c, valuing the company at $31 million.
