0.43 g/t Gold Copper Mineralization Confirmed at Cresta Verde
C3 Metals Intersects 48m @ 1.24% Copper and
0.43 g/t Gold
Copper Mineralization Confirmed at Cresta Verde
Toronto, Ontario--(Newsfile Corp. - December 13, 2021) -
C3 Metals Inc.
(TSXV: CCCM) (OTCQB:
CUAUF) ("C3 Metals" or the "Company") is pleased to provide an update on its drilling programs at the
Montaña de Cobre zone and the Cresta Verde zone located at the Jasperoide skarn / porphyry project in
southern Peru.
Assays are reported for a further seven holes drilled on section lines JAS2800 (3 holes),
JAS2900 (one hole) and JAS2600 (three holes).
Drilling Highlights:
Significant copper-gold mineralization intersected on all three lines at the Montaña de Cobre zone
JAS2800-01
48.2m @ 1.24% Cu and 0.43 g/t Au from 83.0m
including 14.13m @ 2.98% Cu and 1.08 g/t Au from 107.1m
An epithermal style feeder structure assayed 1.73m @ 13.95 g/t Au from 25.9m
JAS2600-03
98.68m @ 0.38% Cu and 0.21 g/t Au from 52.67m
JAS2900-01
73.0m @ 0.41% Cu and 0.17 g/t Au from 152.8
The Company is also pleased to report highly encouraging assays from inital scout drilling of a large-
scale coincident magnetic and induced polarization (IP) chargeability anomaly at Cresta Verde zone.
Broad intervals of sulphide copper mineralization is hosted within a large body of massive sulphide.
JAS4350-02
43.5m @ 0.32% Cu from 260.0m, including 24.85m @ 0.45% Cu from 266.55m
JAS4350-03
66.3m @ 0.21% Cu from 261.7m, including 13.80m @ 0.31% Cu from 262.9m and 22.2m
@ 0.30%
Cu from 302.6m
Kevin Tomlinson, President & CEO of C3 Metals commented,
“As we continue to delineate the high-grade copper-gold oxide skarn deposit at the Montaña de Cobre
Zone, the Company is also pleased to report highly encouraging initial sulphide drilling results from
the Cresta Verde Zone. Our drilling continues to identify vectors that support our interpretation that a
porphyry is the driving force for the extensive hydrothermal Cu-Au system at Jasperoide, which
include mineralized fragments of the suspected causative intrusion, coarse molybdenite in massive
and semi-massive sulphides and high-sulfidation feeder structures.
We have confirmed that Jasperoide is a multi-kilometre scale mineralized system with at least two
prospective skarn horizons. The extensive copper mineralization at Jasperoide is developed
immediately adjacent to the intersection of two major regional faults that are interpreted to transect
Hudbay’s Constancia mine, 35km to the southeast and the Las Bambas Mine 40km to the west.
The delineation of primary sulphide mineralization at the Cresta Verde zone associated with important
regional controls to two large copper deposits in the district bodes well for the ongoing program we
have underway at Jasperoide.”
A total of 38 drill holes have been completed to date for 10,393m with drilling now progressing on line
JAS2500 at the Montaña de Cobre zone (Figure 1).
Figure 1: Map Showing Drill Collar Locations and Copper in Soil Geochemistry
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2661/107458_7dfc5dc0e4f7c836_001full.jpg
Drilling continues to expand high-grade copper-gold oxide mineralization that is hosted in a shallow
dipping skarn body at the Montaña de Cobre zone.
Drilling on lines JAS2800 and JAS2900 confirms
that oxide copper-gold mineralization extends a further 150m northwest of line JAS2750, where the
Company reported
229.45m @ 0.99% Cu and 0.43 g/t Au
from surface in hole JAS2750-05 (
Press
release dated September 30, 2021
). Likewise, drilling on line JAS2600 confirms that mineralization
extends a further 50m southeast of line JAS2650, where the Company reported
53.24m @ 3.11% Cu
and 0.46 g/t Au
from 92.6m in JAS2650-05 (
Press release dated May 25, 2021
, Table 1
).
The Montaña
de Cobre zone
skarn system remains open in all directions.
Five holes completed on lines JAS4350 and JAS4050 as part of the maiden scout drilling at the Cresta
Verde zone intersected broad zones (+200m) of intensely skarn altered carbonate rocks of the
Ferrobamba Formation, a hydrothermal breccia with 50-90% sulphides and an altered intrusive
complex.
Pervasively skarn altered rocks contain 5-30% sulphides comprising pyrrhotite > pyrite ±
chalcopyrite and the intrusive complex is locally strongly endoskarn altered.
As previously reported,
(
Press release dated September 30, 2021
) JAS4350-02 intersected a hydrothermal breccia containing
massive sulphides (50-90%) with visible chalcopyrite mineralization.
Assays confirm low to moderate
grade copper sulphide mineralization in four of the five holes drilled, which tested the upper area of a
large-scale coincident magnetic and IP chargeability anomaly (Table 2).
Montaña de Cobre Zone Drilling
Drilling on lines JAS2800 and JAS2900 demonstrates that high-grade copper-gold mineralization
intersected on line JAS2750 continues to the northwest.
Drill holes JAS2800-01, 02 and 03 and
JAS2900-01 all intersected broad zones of strongly oxidized garnet diopside and magnetite skarns.
Secondary copper species dominate the mineralization style and comprise malachite, chrysocolla and
azurite (Figure 2).
Historical drill hole H-02 is located a further 110m northwest of JAS2900-01 and is
collared near to section line JAS3050.
H-02 intersected 60.93m @ 0.68% Cu
1
from 16m depth,
confirming that high-grade oxide copper-gold mineralization continues northwest, proximal to the
important structural intersection zone of the Benoni and Constancia Faults (Figure 1).
Figure 2: (Left) JAS2800-01 (118.3m).
Sample interval 117.9 - 119.1 (1.2m) assayed 6.59% Cu and
1.88g/t Au showing chrysocolla and interstitial malachite in oxidized skarn.
(Right) JAS900-01 (83.18m).
Sample interval 82.75 - 83.85 (1.1m) assayed 0.34% Cu and 0.27g/t Au in oxidized magnetite skarn.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2661/107458_c3figure2.jpg
The Company drilled three holes from line JAS2600, which is located 50m southeast of line JAS2650.
JAS2600-01, 02 and 03 intersected broad widths of strongly oxidized garnet-diopside and magnetite
skarn alteration that contains malachite, chrysocolla and azurite.
Historical drill hole HU-12 is collared
50m southeast of line JAS2600 and intersected 54.0m @ 0.20% Cu
1
from 60m depth.
Current and
historical drill data therefore confirms that copper oxide mineralization continues further southeast.
Significant assays from the Montaña de Cobre zone
holes are included in the table below.
Table 1. Significant drilled intercepts at the Montaña de Cobre Zone
Hole
From
To
Length
Cu
(%)
Au
(g/t)
Ag
(g/t)
Mineralization
Style
JAS2600-01
25.50
79.12
53.62
0.28
0.12
1.41
Skarn
88.78
98.06
9.28
0.18
0.06
0.69
Skarn
124.85
142.70
17.85
0.46
0.23
2.39
Skarn
JAS2600-02
23.20
52.71
29.51
0.30
0.15
1.03
Skarn
60.10
73.20
13.10
0.39
0.22
1.37
Skarn
78.70
106.50
27.80
0.20
0.07
0.60
Skarn
JAS2600-03
32.90
46.95
14.05
0.28
0.19
2.78
Skarn
52.67
151.35
98.68
0.38
0.21
2.29
Skarn
156.85
162.80
5.95
0.18
0.53
0.60
Skarn
191.40
193.13
1.73
0.14
13.95
4.58
Epithermal
194.70
206.17
11.47
0.24
0.09
0.60
Skarn
230.75
265.37
34.62
0.21
0.09
0.54
Skarn
268.30
287.80
19.50
0.39
0.10
0.69
Skarn - Sulphide
308.62
313.00
4.38
0.69
0.20
0.70
Skarn - Sulphide
JAS2800-01
16.30
26.13
9.83
0.29
0.46
2.43
Skarn
Including
25.90
26.13
0.23
0.27
13.65
2.47
Epithermal
57.85
64.40
6.55
0.34
0.03
3.18
Skarn
69.20
74.10
4.90
0.28
0.14
1.34
Skarn
83.00
131.20
48.20
1.24
0.43
1.82
Skarn
Including
107.07
121.20
14.13
2.98
1.08
3.65
Skarn
JAS2800-02
3.00
10.25
7.25
0.33
0.10
3.41
Skarn
19.20
50.90
31.70
0.39
0.09
2.06
Skarn
56.40
63.00
6.60
0.33
NSA
1.62
Skarn
JAS2800-03
36.00
58.00
22.00
0.35
0.21
0.94
Skarn
58.00
78.60
20.60
0.21
0.53
5.20
Epithermal
JAS2900-01
0.00
12.85
12.85
0.21
0.16
0.89
Skarn
41.20
62.55
21.35
0.23
0.06
0.86
Skarn
75.75
101.40
25.65
0.25
0.08
0.83
Skarn
152.80
225.80
73.00
0.41
0.17
1.69
Skarn
Hole
From
To
Length
Cu
(%)
Au
(g/t)
Ag
(g/t)
Mineralization
Style
Notes:
1
.
Significant intercepts reported as length-weighted averages exceeding 0.15% Cu and 0.10g/t Au, with <5m of consecutive internal dilution.
2
.
Copper is uncut.
3
.
True width of downhole intersections reported are estimated to be approximately 60-90% of the downhole lengths.
Cresta Verde Zone Drilling
The 2021 airborne magnetic and ground IP surveys completed over the Jasperoide area defined a
large-scale coincident magnetic and IP chargeability anomaly at the Cresta Verde zone.
Modelling and
inversion of the geophysics data indicates the magnetic and IP chargeability anomalies strengthen with
depth and this area was therefore tested by five drill holes (JAS4350-01, 02 and 03 and JAS4050-01
and 02) for a total of 2,742.3 metres.
The first hole, JAS4350-01, drilled northeast (065° azimuth) and intersected a multiphase intrusive
complex that is considered geologically significant with respect to the hydrothermal plumbing system at
the Cresta Verde zone.
No significant copper assays were reported from this hole.
JAS4350-02 drilled southwest (245° azimuth) and bisected the coincident magnetic and IP chargeability
anomaly, which measures 1,200m by 600m.
Moderate to strong skarn alteration with 5-30% sulphides
(pyrite and pyrrhotite dominant) was intersected from 125 to 260m depth, followed downhole by a
hydrothermal breccia to 310m depth.
The breccia zone contains 40 - 90% sulphides that are dominated
by pyrrhotite and pyrite, which is overprinted by late-stage chalcopyrite and molybdenite mineralization.
Downhole from the breccia is equigranular diorite cut by millimetre to metre-scale pyrrhotite veins with
chalcopyrite along vein selvages.
The best assays include 43.5m @ 0.32% copper (from 260.0m) and
51.65m @ 0.12% Cu (from 313.8m).
Figure 3 shows the interpreted cross section through JAS4350-01
and 02.
JAS4350-02 tested the upper area of a coincident anomaly and intersected significant intervals of
pervasive garnet-diopside-magnetite skarn alteration with up to 90% pyrrhotite and pyrite and with
visible chalcopyrite mineralization.
The JAS4350-02 drill collar is approximately 700 metres northwest of
historical drill hole JADD11-20 which tested the southern extent of the anomaly and intersected 23.5m of
1.86% Cu
1
from 19m downhole.
Figure 3: Cross section showing interpreted geology for JAS4350-01 and 02.
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/2661/107458_c3figure3.jpg
Significant assays from the Cresta Verde zone holes are included in Table 2.
Table 2
. Significant drilled intercepts at the Cresta Verde Zone
Hole
From
To
Length
Cu
(%)
Mineralization Style
JAS4050-01
185.80
240.35
54.55
0.13
Skarn - Sulphide
JAS4050-02
230.00
241.30
11.30
0.10
Skarn - Sulphide
269.80
276.00
6.20
0.28
Skarn - Sulphide
292.70
339.00
46.30
0.15
Skarn - Sulphide
354.30
363.90
9.60
0.10
Skarn - Sulphide
382.90
387.40
4.50
0.13
Skarn - Sulphide
393.20
400.40
7.20
0.17
Skarn - Sulphide
461.90
466.95
5.05
0.22
Skarn - Sulphide
JAS4350-01
No Significant Assays
Intrusive Complex
JAS4350-02
157.90
169.70
11.80
0.17
Skarn - Sulphide
178.15
196.25
18.10
0.20
Skarn - Sulphide
260.00
303.50
43.50
0.32
Sulphide Breccia Zone
Including
266.55
291.40
24.85
0.45
Sulphide Breccia Zone
313.80
365.45
51.65
0.12
Sulphide Breccia Zone
397.90
414.50
16.60
0.17
Diorite - Sulphide
641.70
651.50
9.80
0.15
Diorite - Sulphide
JAS4350-03
84.50
92.80
8.30
0.65
Skarn - Sulphide
121.00
126.50
5.50
0.11
Skarn - Sulphide
135.05
141.20
6.15
0.30
Skarn - Sulphide
147.30
154.55
7.25
0.22
Skarn - Sulphide
213.55
232.70
19.15
0.25
Sulphide Breccia Zone
261.70
328.00
66.30
0.21
Sulphide Breccia Zone
Including
262.90
276.70
13.80
0.31
Sulphide Breccia Zone
Including
302.60
324.80
22.20
0.30
Sulphide Breccia Zone
334.70
352.50
17.80
0.13
Sulphide Breccia Zone
Hole
From
To
Length
Cu
(%)
Mineralization Style
Notes:
1
.
Significant intercepts reported as length-weighted averages exceeding 0.10% Cu, with <5m of consecutive internal dilution.
2
.
Copper is uncut.
3
.
True width of downhole intersections reported are estimated to be approximately 60-90% of the downhole lengths.
Drilling is progressing at Montaña de Cobre Zone on line JAS2500, testing the southern extension of the
oxide copper gold mineralization.
Further drilling is planned to the northwest of line JAS2900 and along
the eastern margins of the Montaña de Cobre zone.
A larger rig is required to test the deeper levels of
the Jasperoide skarn/porphyry system, which is expected to commence in Q1 2022.
Summary
The 2021 drilling campaign has confirmed that the mineralized skarn footprint at the Montaña de Cobre
zone is over 350m in strike-length, is laterally extensive for up to 500 metres and remains open in all
directions.
Historical drill data suggests further potential to expand the mineralized footprint to the
northwest and southeast, which is the current focus of the drilling program.
Ongoing drill hole JAS2500-
01 is testing the southeast extension potential of skarn mineralization intersected in JAS2600-03
(98.68m @ 0.38% Cu and 0.21g/t Au from 52.67m).
Additional drilling is planned on line JAS2900 and
along strike to the northwest, towards the Benoni Fault.
The maiden drill program at Cresta Verde is considered a strong success, with elevated to strongly
anomalous copper mineralization intersected in 4 of 5 completed holes.
The higher ratios of pyrite and
pyrrhotite to chalcopyrite indicate an environment with low- to medium-temperatures, and hence the
Company is planning to test below this pyritic zone, to target the central plumbing system of the
interpreted copper-gold skarn/porphyry system.
References for Historical Data
1
Data retrieved from Hochschild Mining's database and internal reports. Hochschild was operator of the
Jasperoide Project from 2011 to 2012 and completed two drill programs. C3 Metals has access to the
entire drill database and believes that reporting of the information was to industry standard practice.
For additional information, contact:
Kevin Tomlinson
President & CEO
Alec Rowlands
Vice President, Investor Relations
+1 416 572 2512
ABOUT C3 METALS INC.
C3 Metals Inc. is a junior minerals exploration company focused on creating substantive value for its
shareholders through the discovery and development of large copper and gold deposits. The Company's
flagship project is the 57km
2
Jasperoide high-grade copper-gold skarn and porphyry system located in
the prolific Andahuaylas-Yauri Porphyry-Skarn belt of Southern Peru. Mineralization at Jasperoide is
hosted in a similar geological setting to the nearby major mining operations at Las Bambas (MMG),
Constancia (Hudbay) and Antapaccay (Glencore). C3 Metals also holds a 100% interest in five licenses
covering 207 km
2
of highly prospective copper-gold terrain in Jamaica and an interest in two porphyry
copper-gold properties within the Cascade Magmatic Arc in southwestern British Columbia: a 100%
ownership in
the Mackenzie project covering 125 km2 and a 2% royalty in Tocvan's Rogers Creek
project.
Related Link:
www.c3metals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
QP Statement
Stephen Hughes, P.Geo. is Vice President Exploration and a Director for C3 Metals and is a Qualified
Person as defined by National Instrument 43-101. Mr. Hughes has reviewed the technical information in
this news release and approves the written disclosure contained herein.
Technical Program
C3 Metals adheres to a strict QA/QC protocol for core handling, sampling, sample transportation and
analyses. Chain-of-custody protocols are designed to ensure security of samples until their delivery at
the laboratory.
Half core samples are analysed by 4-Acid digest ICP-MS finish for 60 elements, including pathfinder
REE elements with pulps from samples reporting greater than 1.0% copper being re-assayed by the ore
grade method. Gold is analysed by 30g Fire Assay AAS finish, with pulps from samples reporting
greater than 5ppm re-assayed by 1kg Screen Fire Assay. The Company inserts blanks and certified
reference standards in the sample sequence for quality control.
COVID-19 Protocols
The Company continues to implement its COVID-19 safety protocols at site to ensure the safety of
employees and the communities surrounding the Jasperoide project area.
Caution Regarding Forward Looking Statements
Certain statements contained in this press release constitute forward-looking information. These
statements relate to future events or future performance. The use of any of the words "could", "intend",
"expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to
matters that are not historical facts are intended to identify forward-looking information and are based on
the Company's current belief or assumptions as to the outcome and timing of such future events. Actual
future results may differ materially. In particular, this release contains forward-looking information relating
to, among other things, the exploration operations of the Company and the timing which could be
affected by the current global COVID-19 pandemic. Those assumptions and factors are based on
information currently available to the Company. Although such statements are based on reasonable
assumptions of the Company's management, there can be no assurance that any conclusions or
forecasts will prove to be accurate.
While the Company considers these assumptions to be reasonable based on information currently
available, they may prove to be incorrect. Forward looking information involves known and unknown
risks, uncertainties and other factors which may cause the actual results, performance or achievements
to be materially different from any future results, performance or achievements expressed or implied by
the forward-looking information. Such factors include risks inherent in the exploration and development of
mineral deposits, including risks relating to changes in project parameters as plans continue to be
redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral
prices and the worldwide demand for and supply of minerals, risks related to increased competition and
current global financial conditions and the COVID-19 pandemic, access and supply risks, reliance on
key personnel, operational risks, and regulatory risks, including risks relating to the acquisition of the
necessary licenses and permits, financing, capitalization and liquidity risks.
The forward-looking information contained in this release is made as of the date hereof, and the
Company is not obligated to update or revise any forward-looking information, whether as a result of new
information, future events or otherwise, except as required by applicable securities laws. Because of the
risks, uncertainties and assumptions contained herein, investors should not place undue reliance on
forward-looking information. The foregoing statements expressly qualify any forward-looking information
contained herein.
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