Chakana Copper (TSXV: PERU; US-OTC: CHKKF) aims to expand its initial Soledad copper, gold and silver resource in Peru to 10 million tonnes before wrapping an economic study around it, CEO David Kelly said in an interview.
Under Kelly’s guidance, and with the backing of Gold Fields (NYSE: GFI; JSE: GFI) as a major shareholder, the project has expanded since drilling started in 2017. The project now hosts an inferred resource in 2022 of 6.7 million tonnes at 1.81% copper-equivalent for 130 million lb. copper, 191,000 oz. gold, and 11.7 million oz. silver.
Recent exploration returned “some of the best results of my career,” Kelly said last month at the Rule Symposium in Boca Raton, Fla. Among the highlights were 480 metres of 2% copper-equivalent and 12 metres of 27% copper with 963 grams silver per tonne.
Chakana is gathering and analyzing new data from its 3,000-metre drill program that started in April, including hyperspectral core scanning. It aims to use this information to guide further resource drilling and, eventually, a preliminary economic assessment.
Watch the full interview with The Northern Miner’s western editor, Henry Lazenby, below.
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