Chakana Copper (Vancouver: PERU) (CHKKF) is a Canada-based minerals exploration company currently advancing the Soledad copper-gold-silver project near Aija, in the Ancash region of the highly prolific Cordillera Negra mountain range of Peru, notes Gerardo Del Real, editor of Resource Stock Digest.
Chakana is led by CEO David Kelley an economic geologist and exploration geochemist with more than 25 years of international exploration experience throughout the Americas, Central Asia and Australasia.
David Kelley was responsible for developing the exploration program at Las Bambas for MMG as the General Manager Exploration - Americas. Prior to this he worked for Oz Minerals, Zinifex, Newmont, WMC, BHP, Westmont Mining and Gold Standard.
Soledad is located approximately 260 km north-northwest of Lima and 35 km south of Barrick’s Pierina mine. Soledad has been explored by previous operators that explored it for its porphyry potential.
Unlike prior operators Chakana is taking a unique approach and is focused on testing the breccia pipe potential to determine if they host economic mineralization.
The Soledad Project consists of high-grade gold-copper-silver mineralization hosted in tourmaline breccia pipes. A total of 33,062 meters of drilling has been completed to-date, testing nine (9) of twenty-three (23) confirmed breccia pipes with more than 92 total targets.
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Results from the most recent drill program have been spectacular and include 10.7meters of 7.25 g/t Au, 10.2% Cu, and 163.5 g/t Ag (24.99 g/t Au-eq) from 32.4 meters.
I expect higher gold, copper and silver prices in 2021 and Chakana provides excellent exposure to those commodities.
Meanwhile, my two Top Picks from last year — Midas Gold (Vancouver: MAX) (MDRPF) and Hannan Metals (Vancouver: HAN) (HANNF) — closed the year up 91% and 94%, respectively. Though each performed extraordinarily well, the best days are still ahead for each company.
I expect Hannan to continue to develop multiple targets prospective for copper-silver discoveries and expect those targets to yield significant discoveries for years to come.
Midas Gold meanwhile just refreshed its board of directors at John Paulson & Co. request and the move indicates that Midas Gold is a clear takeout target that is now in play.