Huancarama Drilling At The Soledad Project

VANCOUVER - Chakana Copper Corp. reported on the twelve resource definition holes drilled in Huancarama totaling 2,974.85m at the Soledad project, Ancash, Peru. The resource drilling is part of a fully funded 26,000m exploration and resource drilling program planned for 2021). These results compliment previous results from Huancarama and will increase confidence in the initial resource estimate covering six breccia pipes, which is anticipated to be completed by the end of 2021.

"Results for the resource definition drilling at Huancarama have been outstanding thus far. This is a large breccia pipe that is part of a much larger breccia complex. The resource drilling has focused on the east side of the breccia complex where two breccia pipes coalesce into one larger pipe with excellent grades for copper, gold, and silver. We have additional resource definition drill results to release for Bx 5 and Huancarama as we close in on the first resource ever for this new discovery," said President and CEO David Kelley.

The Huancarama breccia pipe is in the central part of the project at an elevation of 3,950m and is one of six breccia pipes that will be included in the initial resource estimate. The breccia pipe is part of a breccia complex with six outcropping breccias over a lateral distance of 200m east-west. Two of the breccias, separated by 50m at surface, coalesce at depth, forming a large breccia pipe approximately 100m x 60m in plan. Breccia has been intercepted to a depth of 492m below surface and remains open.

Drill holes were drilled from four different platforms and were designed to confirm the geometry and continuity of mineralization within the breccia pipe. All holes intersected significant mineralization. Thirteen additional holes have been drilled as part of the resource definition program; results for these holes are pending.

A total of 23,947m of drilling has been completed in 2021. The objectives of this drill program are to complete resource definition drilling on six initial breccia pipes to an approximate depth of 300m and test several new exploration targets. Breccia pipes that will be included in the initial resource estimate are: Bx 1, Bx 5, Bx 6, Paloma East, Paloma West, and Huancarama. Additional resource definition drill results for Bx 5 and Huancarama are pending. During 2021 our drilling was focused on the north half of the project where drill permits are in place. Permitting for the south half of the project is well advanced. The southern half of the property hosts several outcropping mineralized tourmaline breccia pipes and has been recently covered by the Company's ongoing geophysical program. Numerous targets exist, none of which have been drilled previously.