C3 Metals Completes 73 Hole Drilling Program at Jasperoide, Peru Intersects 63.9m at 1.2% Copper
C3 Metals Completes 73 Hole Drilling Program
at Jasperoide, Peru
Intersects 63.9m at 1.2% Copper
Toronto, Ontario--(Newsfile Corp. - November 1, 2022) -
C3 Metals Inc.
(TSXV: CCCM) (OTCQB:
CUAUF) ("C3 Metals" or the "Company") is pleased to announce that the Company has intersected
63.9m at 1.19% copper from 58.8m below surface at its Jasperoide project in Peru.
The Company has
now received assays from the final six drill holes of the Phase 2 drilling program.
The Phase 1 and 2
programs successfully defined a cohesive mineralized 650m long skarn body at the Montaña de Cobre
Zone that is strongly oxidized from surface to over 250m in depth.
Results and Update:
Montaña de Cobre Zone
- Copper and gold oxide skarn body measures up to 650m by 600m,
with a variable true thickness of 50m to 250m
Drilling 2021/22
- Comprehensive 73-hole, 20,070 metre drill program completed in 2 phases
Results
- Multiple high-grade copper-gold intercepts reported on most section lines, including
JAS2650-05
reported 53.2m at 3.11% Cu and 0.46 g/t Au from 92.6m (press release May
25, 2021)
JAS2700-03
reported
118.7m at 1.15% Cu and 0.37 g/t Au from 87.3m (press release July
27, 2021)
JAS2750-05
reported
229.5m at 0.99% Cu and 0.43 g/t Au from surface (press release
September 30, 2021)
JAS2800-07
reported
63.9m at 1.19% Cu from 58.8m
JAS2900-02
reported
81.6m at 0.89% Cu, 0.25g/t Au from 21.0m (press release
September 9, 2022)
JAS3000-05
reported 35.7m at 0.62% Cu, 0.37g/t Au from 30.3m (press release May 17,
2022)
Sighter Metallurgical Test Work
- Completed domaining of different material types to evaluate
metallurgical response and assess various processing options for the near surface oxide copper
and gold mineralization
Geological Modeling of Jasperoide Block
- a 3D geological block model is being finalized,
using both the historical and recent drill data and available surface mapping
Property-Wide Evaluation and Drill Targeting
- Evaluating numerous copper-gold porphyry,
skarn and epithermal prospects at Jasperoide Project and within the land package of
approximately 27,000 hectares
Drill Permitting
- Continue the permitting process required to drill test recently acquired mineral
tenements, including two targets where Peruvian informal miners are active
Dan Symons, President and CEO, stated,
"We now have the final assays from the phase 2 drill
program at Jasperoide.
The Montaña de Cobre Zone has been drilled at roughly 50m spacing over
approximately 90% of the skarn target.
The phase 2 drill program has confirmed that the copper
grades increase significantly at depths below 50m to 75m.
In several instances we have encountered
over 5% copper along the base of the zone. With all assay results now in hand, we are now focused on
updating the block model, commencing metallurgical test work and continuing our community
relations and drill permit programs.
We believe there is potential for multiple skarn and porphyry
targets within the recently expanded land position that now sits at approximately 27,000 hectares.
Once drill permits are in hand on these newly acquired mineral concessions, it is our intention to
commence initial drill programs on multiple copper-gold prospects."
Table 1
. Significant drilled intercepts at the Montaña de Cobre Zone
Hole
From
To
Length
Cu
(%)
Au
(g/t)
Ag
(g/t)
Mineralization
Style
JAS2800-07
58.80
122.70
63.90
1.19
0.01
2.40
Skarn
JAS2800-07
140.50
146.40
5.90
0.51
0.01
0.86
Skarn
JAS2900-04
13.20
45.50
32.30
0.46
0.22
1.85
Skarn
54.65
71.85
17.20
0.40
0.14
2.18
Skarn
123.30
141.51
18.21
0.61
0.14
0.59
Skarn
JAS2900-05
13.00
29.80
16.80
0.27
0.11
0.80
Skarn
39.00
49.00
10.00
0.31
0.07
1.03
Skarn
62.15
74.80
12.65
0.34
0.07
1.15
Skarn
106.85
117.10
10.25
0.61
0.13
1.87
Skarn
152.50
185.40
32.90
0.35
0.17
0.82
Skarn
JAS2900-06
9.00
116.50
107.50
0.38
0.13
1.04
Skarn
Including
10.40
36.80
26.40
0.28
0.16
0.71
Skarn
39.90
45.90
6.00
0.57
0.12
1.66
Skarn
52.10
67.45
15.35
0.46
0.06
0.94
Skarn
70.70
116.50
45.80
0.45
0.17
1.20
Skarn
146.55
149.50
2.95
1.50
0.24
2.51
Skarn
JAS3650-02
73.40
77.75
4.35
0.29
0.01
2.38
Skarn
JAS3650-03
38.90
43.10
4.20
0.66
0.01
0.81
Skarn
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 and Gold are uncut.
3
.
True width of down-hole intersections reported are estimated to be approximately 60-90% of the down-hole lengths.
Assay results have been received for the 73-hole, 20,070m two-phase drill program at the Montaña de
Cobre Zone on the Jasperoide Project .
Drilling defined a strongly oxidized copper-gold skarn body that
measures up to 600m in north-south dimension by 650m in east-west dimensions.
The upper skarn is an
intensely leached cap with low to moderate grade copper-gold mineralization. The grade of
mineralization increases significantly below the oxidized cap, including bonanza grades such as 20.1m
at 5.83% Cu, 0.87 g/t Au from 96.3m in JAS2700-09 (press release February 23, 2022).
Important
lithological and structural controls are now being modeled in 3D to define fluid pathways and generate
additional skarn and porphyry targets within the drill permitted area.
To the northwest of the Montaña de Cobre Zone, C3 Metals has located another skarn target, the Cresta
Verde Zone on the other side of the Benoni fault, which is known to be an important structural break in
this region.
The Cresta Verde Zone will be evaluated further, after modeling of the lithology and structure
are completed.
Next Steps
The Company is undertaking sighter metallurgy test work on the different material types within the oxide
skarn body at the Montaña de Cobre Zone to evaluate recoveries, acid consumption and characteristics
of the copper and gold mineralization. Material types are differentiated based on geochemical,
geotechnical, geological and mineralogical characteristics and these tests will provide important
information with respect to the metallurgical response, which is an important de-risking milestone for the
Company.
For additional information, contact:
Dan Symons
President & CEO
+1 416 716 6466
ABOUT C3 METALS INC.
C3 Metals Inc. is a junior minerals exploration company focused on creating substantive value through
the discovery and development of large copper and gold deposits.
The Company holds the 27,200
hectare
Jasperoide project in the prolific high-grade 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 20,700 hectares of highly prospective copper-gold terrain
of Jamaica. Mining dates to the 1500's and 1800's when Spanish and British mining companies
targeted high grade copper in veins.
The Company also holds 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.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/142559