C3 Metals Confirms Bornite Mineralization at Provost Porphyry at Bellas Gate, Jamaica; Intersects 281 Metres at 0.37% Copper and 0.21 g/t Gold (0.51% CuEq1), Including 62 Metres at 0.50% Copper and 0.39 g/t Gold (0.77% CuEq1)
C3 Metals Confirms Bornite Mineralization at
Provost Porphyry at Bellas Gate, Jamaica;
Intersects 281 Metres at 0.37% Copper and
0.21 g/t Gold (0.51% CuEq1), Including 62
Metres at 0.50% Copper and 0.39 g/t Gold
(0.77% CuEq1)
Toronto, Ontario--(Newsfile Corp. - November 27, 2023) -
C3 Metals Inc.
(TSXV: CCCM) (OTCQB:
CUAUF) ("C3 Metals" or the "Company") is pleased to report assays from two additional holes drilled at
the Provost porphyry target on the Company's 100% owned Bellas Gate project in Jamaica (Figure 1).
Drill hole PVT0825-001 (596.7m) intersected 280.7m at 0.37% copper and 0.21 g/t gold (0.52% CuEq
1
)
from 227.0m, including 61.7m at 0.50% copper and 0.39 g/t gold (0.77% CuEq
1
) from 446.0m.
To date,
approximately 5,200m of an 8,500m drill program have been completed.
Assays are pending for
multiple holes, and drilling remains ongoing with two rigs.
Bornite and hypogene chalcocite mineralization, as well as potassic alteration, were confirmed at
approximately 500m depth.
The Company believes it is possible that PVT0825-001 "clipped" the top of
the bornite core of the porphyry system (Figures 2 and 3).
PVT0825-001 was drilled with C3 Metals'
man-portable drill rig to a record depth of 596.7m for this rig.
The presence of bornite mineralization and
potassic alteration corresponded with a spike in grades to 1.14% copper and 1.19 g/t gold (1.98%
CuEq
1
) over a 2.5m interval.
Therefore, the Company has planned a follow up drill hole utilizing its larger
capacity contract drill rig, which has depth capacity of more than 1,000m.
The Company is currently
defining the dimension and grade of copper-gold mineralization in an intial 900m by 200m target area
that remains open in multiple directions and at depth.
Provost Drilling Highlights
Drill hole PVT0825-001 intersected 280.7m at 0.37% copper and 0.21 g/t gold (0.51%
CuEq
1
) from 227.0m, including 61.7m at 0.50% copper and 0.39 g/t gold (0.77% CuEq1)
from 446.0m.
Full transition from pyrite to chalcopyrite-pyrite to bornite mineralization intersected for
the first time at the Bellas Gate project.
A 2.5m interval of potassic alteration with associated bornite mineralization assayed
1.14% copper and 1.19 g/t gold (1.98% CuEq
1
) from 503.0m, which is interpreted as the
top of a bornite-rich potassic altered core of the Provost porphyry system.
Deeper drilling is planned to test below hole PVT0825-001 for extensions of these high
grades.
Copper-gold mineralization successfully extended 150m vertically below earlier drill hole
PVT0900-002, which intersected 390.7m at 0.37% copper and 0.19 g/t gold (0.50% CuEq
1
)
from 64.1m (see press release dated September 25, 2023).
Drill hole PVT0900-004 intersected 170.1m at 0.31% copper and 0.16 g/t gold (0.42%
CuEq
1
) from 68.1m.
The hole terminated in 0.30% copper mineralization within a fault
zone at 300m depth.
Dan Symons, President and CEO, stated
, "Provost looks increasingly like a classic, fully intact copper-
gold porphyry.
The results from PVT0825-001 are very important for multiple reasons: 1) it extends
copper-gold mineralization 150m at depth, 2) the first bornite mineralization and potassic alteration
was encountered, and 3) the ratio of sulphide mineralization transitions from pyrite to chalcopyrite to
bornite as we go deeper into the system.
With this transition, the grades of both copper and gold
increase.
We plan to prioritize a deep hole to test below PVT0825-001 into the interpreted core of the
system.
After closing an oversubscribed and upsized private placement of $8.05 million earlier this
month, we are well funded to expand our drilling program and provide continuous news flow from the
drill bit."
Figure 1: Plan view map of Provost showing historical drill holes in black, recently completed drill holes in
blue and planned drill holes in red. Black hash line outlines 900m by 200m initial drill target area. Based
on alteration and soil geochemistry, the drill target area remains open in multiple directions and at depth.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2661/188670_16e55742f424fa3d_001full.jpg
Figure 2: Cross section through PVT0825-001, showing lithology and copper-gold assays.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2661/188670_16e55742f424fa3d_002full.jpg
Figure 3:
(TOP LEFT)
Rock slab PVT0825-001 (184.8m) showing volcanic andesite, strongly kaolinite-
chlorite altered and cut by porphyry B-veins with pyrite to chalcopyrite ratio of 5:1 (pyrite shell) - 3-metre
sample assayed 0.14% copper and 0.04 g/t gold (0.17% CuEq
1
).
(TOP RIGHT)
Rock slab PVT0825-
001 (412.0m) showing diorite, strongly magnetite-chlorite altered and cut by cm-scale porphyry B-veins
with chalcopyrite to pyrite ratio of 2:1 (chalcopyrite zone) - 3-metre sample assayed 0.89% copper and
0.39 g/t gold (1.17% CuEq
1
).
(BOTTOM LEFT)
Rock slab PVT0825-001 showing diorite, strongly
biotite altered and cut by cm-scale porphyry B-veins with bornite mineralization (bornite zone) - 2.5m
sample assayed 1.14% copper and 1.19 g/t gold (1.98% CuEq
1
).
(BOTTOM RIGHT)
Microphotograph
showing bornite-chalcopyrite-pyrite mineralization, observed starting at 300m depth.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2661/188670_16e55742f424fa3d_003full.jpg
Table 1
. Significant intercepts from the Provost porphyry target at Bellas Gate Project
Hole
From
(m)
To
(m)
Length
2
(m)
Cu
(%)
Au
(g/t)
Ag
(g/t)
CuEq
1
(%)
PVT0825-001
227.0
507.7
280.7
0.37
0.21
1.70
0.51
Includes
446.0
507.7
61.7
0.50
0.39
3.33
0.77
PVT0900-004
68.1
238.2
170.1
0.31
0.16
1.63
0.42
and
279.5
300.0
20.5
0.26
0.07
1.25
0.31
1
Copper equivalent (CuEq) calculation is for reporting purposes only and was determined based on CuEq (%) = Cu (%) + ((0.7079 × Au g/t) under
metal price assumptions of Copper - US$3.00/lb, Gold - US$1,800/oz.
As the Bellas Gate project is an early-stage exploration project and there is
insufficient metallurgical data to allow for estimation of recoveries, porphyry copper-gold recoveries are estimated based on multiple comparable
porphyry-style copper-gold deposits (Alumbrera, Batu Hijau, Fish Lake, Mt Milligan, El Pachon, Agua Rica, Cerro Casale and Skouries) which
averaged 90% recovery for copper and 73% for gold.
A nominal cut-off of 0.2% CuEq is used for the reporting of potentially significant intercepts
and higher-grade cut-offs are 0.4% CuEq.
Maximum contiguous dilution within each intercept is 10m for 0.2% and 0.4% CuEq. Samples have been composited to two and maximum three metre
lengths.
Whole core sampled in drill intervals with less than 30% recovery, to maximize sample.
Silver has been cut to 30g/t, gold and copper are
uncut.
2
All intervals are reported as core lengths, as true widths of the mineralized intervals are unknown at this time.
Drill Summary
C3 Metals has identified 16 porphyry and 40 epithermal targets across a 30km strike extent within its
contiguous mineral concession package in Jamaica.
Most historical drilling, while limited, was
conducted in the Bellas Gate project area.
This historical drilling was relatively shallow, averaging 225m
depth with approximately 40% of holes ending in mineralization.
The Company's current drilling
objectives are twofold: 1) test the strike extent of near-suface mineralization, and 2) test the high grade
potential at depth by locating the bornite-rich potassic altered cores typically found in economic porphyry
systems.
Drilling at Provost continues to define a well-developed porphyry and epithermal copper-gold system that
displays classic porphyry style alteration and mineralization zonation.
The Company has successfully
intersected porphyry and epithermal style mineralization along 400m of strike length and approximately
550m down dip.
Provost remains open in multiple directions and at depth.
PVT0825-001 extends the northwest striking mineralized zone an additional 150m down dip and, more
importantly, confirms the presence of high-grade, bornite-hosted copper mineralization.
The upper levels
of PVT0825-001 intersected andesite volcanics with kaolinite alteration overprinting illite-chlorite
alteration, interpreted as advanced argillic alteration.
Below this upper leached zone, is high-grade
porphyry copper-gold mineralization and epithermal style base and precious metal mineralization with
locally well-developed porphyry quartz stockwork and sheeted B-veins.
Next Steps
C3 Metals is actively drilling with two rigs.
The Company's owned man-portable rig continues to evaluate
the near-surface tonnage potential of porphyry mineralization at Provost, where the system remains open
in multiple directions and at depth.
A larger capacity contract rig is currently drilling the Camel Hill area of
the Bellas Gate project (Figure 4).
Upon completion of its current drill hole, this contract rig will move
immediately to Provost to test for a high-grade bornite-rich potassic core beneath hole PVT0825-001
reported above.
The Company is undertaking real-time geologic modeling, regional and prospect scale structural
interpretation, petrology work, geochronology and numerous other exploration studies at Provost and the
overall Bellas Gate project area.
C3 Metals looks forward to providing further updates as drilling progresses and anticipates a steady flow
of assay results.
Figure 4: C3 Metals' Bellas Gate project location map showing geology and high priority copper-gold
porphyry and epithermal prospects along two porphyry and epithermal copper-gold belts. Note the
locations of two drill rigs currently operating.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2661/188670_16e55742f424fa3d_004full.jpg
For additional information, contact:
Dan Symons
President and CEO
+1 416 716 6466
ABOUT C3 METALS INC.
C3 Metals Inc. is a mineral exploration company focused on creating substantive value for its
shareholders through the discovery and development of large copper and gold deposits.
The Company
is actively exploring in Jamaica where it has identified 16 porphyry and 40 epithermal prospects over a
30km strike extent across its 20,700 hectare exploration licences package.
Mining is currently the
second largest industry in Jamaica, and historical mining dates back to the colonial eras of the 1500s
(Spanish) and 1800s (British).
The Company also holds approximately 24,000 hectares located 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).
At Jasperoide, the Company has
identified over 15 skarn prospects and an outcropping porphyry system over two parallel 28km belts.
The Company has published a maiden resource estimate on the first of these skarn targets, which
contained Measured & Indicated Resources of 52Mt at 0.5% copper and 0.2 g/t gold.
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 handling, sampling, sample transportation and
analyses.
Chain-of-custody protocols are designed to ensure security of samples until their delivery at
the laboratory.
Samples were cut at C3 Metals' operations base in Bellas Gate, St Catherine, Jamaica by Company
personnel. Diamond drill core was sampled in maximum 3-metre intervals, stopping at geological
boundaries, and using a rock saw.
Core diameter is a mix of HQ3 and NQ3 depending on the depth of
the drill hole.
Samples were bagged, tagged and packaged for shipment by DHL air freight service to
the ALS preparation laboratory in Sudbury, Ontario, Canada where entire samples were crushed to 70%
passing 10 mesh (2mm), and a 250g split was pulverized to 85% passing 200 mesh (75µm).
The prepared samples were sent to the ALS assay laboratories in Vancouver, Canada for copper, gold
and silver assays, and multi-element ICP. ALS is an accredited laboratory which is independent of the
Company. Gold assays were by fire assay fusion with AAS finish on a 30g sample and the overlimit gold
assay was completed by fire assay and gravimetric finish on 30g sample.
Copper and silver were
assayed by ICP-AES following a 4-acid digestion on the ME-ICP61 package for a suite of 33 elements
and the over limit copper by 4-Acid digestion and assayed by ICP-AES on each sample with copper
greater than 10000ppm (1%). Copper and gold standards as well as blanks and duplicates (coarse
crush split) were randomly inserted into the sampling sequence for quality control. On average, 9% of the
submitted samples are quality control samples. No data quality problems were indicated by the QA/QC
program.
1
Copper equivalent (CuEq) calculation is for reporting purposes only and was determined based on CuEq (%) = Cu (%) + ((0.7079 × Au g/t) under
metal price assumptions of Copper - US$3.00/lb, Gold - US$1,800/oz.
As the Bellas Gate project is an early-stage exploration project and there is
insufficient metallurgical data to allow for estimation of recoveries, porphyry copper-gold recoveries are estimated based on multiple comparable
porphyry-style copper-gold deposits (Alumbrera, Batu Hijau, Fish Lake, Mt Milligan, El Pachon, Agua Rica, Cerro Casale and Skouries) which
averaged 90% recovery for copper and 73% for gold.
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/188670