Vancouver, B.C., November 26, 2018 – Chakana Copper Corp. (TSX-V: PERU; OTCQB: CHKKF; FWB: 1ZX) (the“Company”or“Chakana) is pleased to report that it has received final government approval of the Semi-detailed Environmental Impact Assessment (EIAsd) covering a portion of the Soledad copper-gold-silver project in Peru. The approval applies to the original area of the Declaration of Environmental Impact (DIA) on the Soledad exploration permit and includes 120 additional drilling platforms.
“This is an important milestone for Chakana as it provides the necessary drill platforms to test numerous targets on the Soledad project. We are now able to apply for a modification to our existing permit to allow us to relocate platforms beyond the original permitted area, where several high priority targets exist, including the Huancarama Breccia Complex and the Paloma East and West breccia pipes (Fig. 1). While we wait for the modification to be approved, we are busy completing detailed mapping, rock sampling, soil surveys and surface electromagnetic surveys to better prioritize future drill targets,” stated David Kelley, President & CEO.
About Chakana Copper
Chakana Copper Corp. is a Canadian based minerals exploration company and through its wholly owned Peruvian subsidiary, Chakana Resources S.A.C., is currently advancing the Soledad project near Aija, in the Ancash region of the highly prolific Cordillera Negra mountain range of Peru.
ON BEHALF OF THE BOARD
(signed) “David Kelley”
President and CEO
For further information contact:
Michelle Borromeo, Manager – Corporate Communications
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release may contain forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Chakana to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information relates to, among other things, our ability to modify our existing permit on the Soledad Project to allow for the relocation of drilling platforms, the interpretation of the nature of the mineralization at the Soledad Project, the potential to grow the Soledad Project, the potential to expand the mineralization, the planning for further exploration work, the ability to de-risk the potential exploration targets, and our belief about the unexplored parts of the Soledad Project. These forward-looking statements are based on management’s current expectations and beliefs but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward- looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.
Figure 1 – Map showing Chakana’s 3,085-hectare land position with known breccia pipes and occurrences. Area of original Condor land position shown in blue, Rosales land position in white, and Barrick concessions in green. The original Declaration of Environmental Impact (DIA) was limited to the Condor concessions.