Chakana Copper Finalizes 100% Ownership of La Joya Project; Readies High-Priority Targets for Follow-Up Drilling
Rhea-AI Summary
Chakana Copper (OTCQB:CHKKF) has received TSX Venture Exchange approval and completed the acquisition of a 100% interest in the La Joya Project in Ancash, Peru. Barrick becomes an 8% shareholder via 4,130,312 new shares and holds a 2% NSR royalty.
The 1,600-hectare project hosts three key targets: Mega-Gold, La Joya HSE, and Compañero, with Mega-Gold and La Joya HSE fully permitted for follow-up drilling and Compañero nearing drill initiation.
Positive
- 100% ownership of La Joya Project consolidated
- 4,130,312 shares issued bringing Barrick in as 8% shareholder
- La Joya project spans 1,600 hectares in active mining district
- Mega-Gold and La Joya HSE targets fully permitted for drilling
- High-grade intercepts up to 11.05 g/t gold over 1.5m at Mega-Gold
- High-grade 1,005 g/t silver over 0.75m at La Joya HSE
Negative
- Share issuance to Barrick represents 8% post-transaction dilution
- 2% NSR royalty granted to Barrick on La Joya concessions
News Market Reaction – CHKKF
In the Jun 1 session, CHKKF declined 2.28%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - June 1, 2026) - Chakana Copper Corp. (TSXV: PERU) (OTCQB: CHKKF) (FSE: 1ZX0) (the "Company" or "Chakana"), is pleased to announce that it has received TSX Venture Exchange approval and successfully completed the acquisition of a
The La Joya Project, located in the Ancash region of Peru, is a 1,600-hectare property situated in the heart of the Aija-Ticapampa mining district. With the transaction now closed, Chakana consolidates full ownership of the project featuring three distinct and highly prospective exploration targets: Mega-Gold, La Joya HSE, and Compañero.
"Consolidating
Transaction Details
As consideration for the acquisition, Chakana has issued 4,130,312 common shares to Barrick, representing
Strategic Significance of
Achieving
Key Project Highlights and Next Steps:
Mega-Gold Intrusive Center (Fully Permitted): 2024 "proof-of-concept" drilling across this 2.5 km² area confirmed a high-level porphyry environment. Results included 11.05 gpt gold over 1.5m in hole MGDH24-003 and 1.8 gpt gold and
0.35% copper over 2.0m in hole MGDH24-002, indicating a mineralized fluid source at depth (see news release dated August 29, 2024). All eight scout holes drilled at Mega-Gold encountered pyrite-chalcopyrite-molybdenite mineralization hosted in veins and anomalous gold. The Company is fully permitted to begin a definitive drill test of the high-priority PT-1 porphyry target.La Joya High-Sulfidation Epithermal (HSE) Target (Fully Permitted): Initial shallow drilling in 2024 confirmed high-grade silver mineralization, highlighted by 1,005.0 gpt silver and 0.45 gpt gold over 0.75m within high-sulfidation advanced argillic alteration consisting of vuggy silica, alunite, dickite, zunyite, diaspore, and pyrophyllite (see news release dated August 29, 2024). Follow-up drilling is planned to test for a stratigraphically hosted bulk tonnage deposit beneath the surface alteration zone.
Compañero Gold Prospect: This target features mineralized hydrothermal breccias at surface with channel samples assaying up to 14.25 gpt gold. While the environmental permit has already been awarded, the Company has initiated the final "Initiation of Activities" process required to commence drilling.
About Chakana Copper
Chakana Copper Corp is a Canadian-based minerals exploration Company that is currently advancing the La Joya project located in the Ancash region of Peru, a highly favorable mining jurisdiction with supportive communities. Chakana also holds a
Qualified Person
David Kelley, an officer and a director of Chakana, and a Qualified Person as defined by NI 43-101, reviewed and approved the technical information in this news release.
ON BEHALF OF THE BOARD
(signed) "David Kelley"
David Kelley
President and CEO
For further information contact:
Phone: 720-233-2166
Email: info@chakanacopper.com
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.
Forward-looking Statement Advisory: 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, the interpretation of the nature of the mineralization at the La Joya Project , the potential to expand the mineralization, and to develop and grow a resource within the La Joya Project, the planning for further exploration work, the ability to de-risk the potential exploration targets, and our belief in the potential for mineralization within unexplored parts of the La Joya 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299603