C3 Metals Continues to Intersect High Grade Copper at Jasperoide Project, Peru Including 119 metres of 1.15% Cu and 0.37 g/t Au
C3 Metals Continues to Intersect High Grade
Copper at Jasperoide Project, Peru Including
119 metres of 1.15% Cu and 0.37 g/t Au
Toronto, Ontario--(Newsfile Corp. - July 27, 2021) -
C3 Metals Inc.
(TSXV: CCCM) ("C3 Metals" or the
"Company") is pleased to announce assays from an additional three holes from its ongoing drilling
program of the Jasperoide Copper-Gold Project, Peru.
The three holes were drilled on section line
JAS2700, the drill line 50 metres north of high-grade intercepts reported on line JAS2650 (see Press
Release May 25, 2021).
The results extend high grade copper-gold mineralization within the zone of
pervasive skarn development.
Drill Program Highlights:
Assays continue to confirm broad intervals of strong copper-gold mineralization including:
JAS2700-03
118.71m @ 1.15% Cu and 0.37 g/t Au
from 87.3m including
29.95m @ 2.57% Cu and 0.50 g/t Au
from 106.1.0m
JAS2700-02
99.81m @ 0.90% Cu and 0.34 g/t Au
from 68.4m and
JAS2700-01
102.0m @ 0.61% Cu and 0.23 g/t Au
from 79.0m
Deposit remains open in all directions
Feeder style structure discovered
Assay results pending for 12 drill holes - drilling continuing
Kevin Tomlinson, CEO of C3 Metals commented,
"The high-grade results received from the first 10 holes of the 2021 drilling campaign have exceeded
our predictions and provide strong evidence that a sizable copper-gold system is present at the
Montaña de Cobre Zone.
We are now drilling our 22
nd
hole on the zone with assays awaited on 12
holes.
"As we continue to drill Jasperoide, the results support our interpretation of a well-developed copper-
gold skarn system linked to a mineralised porphyry intrusion at depth. To date, drilling has identified
mineralized copper sulphide bearing porphyry fragments, porphyry type veining and most recently an
interpreted feeder structure.
These observations are important evidence of a porphyry system
beneath or proximal to the skarn deposit as typically seen in the large copper mines operating in the
district."
Montaña de Cobre drilling is demonstrating that skarn hosted copper-gold mineralization is open in all
directions and extends both laterally and along strike.
The drill rig is currently positioned on section line
JAS2800 (150m grid north of our first section reported on JAS2650) drilling the second of a planned
three holes.
Drill section spacing is planned to increase to 100 metres at the completion of the JAS2800
drill fan, as the rig progresses a further 800 metres northward towards the Cresta Verde Zone.
An
historic hole, JADD11-20 on that zone intersected
23.5m at 1.86% Cu
5
from 19m.
Montaña de Cobre Zone Drill Results
A total of 22 holes have been completed and drilling is continuing on section line JAS2800.
All holes
drilled to date have intersected alteration and mineralization styles consistent with a telescoped skarn-
epithermal-porphyry system.
High grade copper-gold assays from seven holes were reported on May
25, 2021, including
53.24m at 3.11% Cu and 0.46 g/t Au
which included
29.84m @ 4.96% Cu and
0.56 g/t Au
from one hole on section JAS2650.
That section line confirmed 450 metres of laterally
continuous copper-gold skarn mineralization.
Two drill fans, for eight holes completed on section line JAS2700 (1,552.9m), confirm well-developed
skarn and copper-gold mineralization for +500m laterally.
The system remains open to the west, north
and at depth (Figure 2) with results from the first three assayed holes on JAS2700 supporting the
interpretation of a strongly mineralized domain dipping 15 to 25 degrees westward.
Observed alteration
and mineralization zonation appears consistent with the geology seen at major copper mines operating
in the district i.e. a skarn system overprinted by epithermal style veining, all related to an interpreted
porphyry system at depth.
Drill holes JAS2700-01, 02 and 03 intersected strongly oxidized garnet diopside and magnetite skarn
consistent with the geology observed on previous section line JAS2650.
Copper mineralization is
dominated by secondary copper species that include malachite, chalcocite, chrysocolla and azurite,
occurring as disseminations, fracture coatings, open space filling and in veins (Figure 3).
Assays from
each hole confirm broad zones of pervasive and high-grade copper-gold mineralization, including the
JAS2700-03 intercept of
118.71m at
1.15% Cu and 0.37 g/t Au from 87.3m,
including 29.95m at
2.57% Cu and 0.50 g/t Au, from 106.1.0m.
Assays pending for JAS2700-04 to 08.
An interpreted "Feeder Structure" logged in drill hole JAS2700-04 is characterized by an intensely
silicified, vuggy textured and oxidized polymictic breccia (Figure 4).
As this style of alteration is typically
genetically linked to a porphyry copper system, identifying these primary channel ways for mineralizing
hydrothermal fluids is critical to the planning of deeper drill holes.
Airborne magnetics (recently
completed), Induced Polarization (on-going), surface mapping & sampling and all drilling data will be
used to design deeper holes to test for additional skarn horizons and the interpreted porphyry system at
depth.
As the drill program progresses, additional results will be released as they become available.
Significant
assays from the first three holes on section JAS2700 are included in the table below.
Table 1. Significant drilled intercepts
Hole
From
To
Interval
Cu
(%)
Au
(g/t)
Ag
(g/t)
JAS2700-01
35.00
50.00
15.00
0.41
0.15
1.68
JAS2700-01
79.00
181.00
102.00
0.61
0.23
1.60
JAS2700-02
22.10
50.00
27.90
0.21
0.06
0.86
JAS2700-02
68.44
168.25
99.81
0.90
0.34
2.30
JAS2700-02
184.60
201.10
16.50
0.46
0.37
1.37
JAS2700-02
210.71
223.35
12.64
0.26
0.00
0.84
JAS2700-03
60.00
80.65
20.65
0.26
0.12
3.15
JAS2700-03
87.29
206.00
118.71
1.15
0.37
1.94
Including
106.05
136.00
29.95
2.57
0.50
3.03
Notes:
1
.
Significant intercepts are reported as length-weighted averages exceeding 0.20% Cu, with less than 5m of consecutive internal dilution.
2
.
Arbitrary top cut of 5g/t on gold assays has been used, copper is uncut.
3
.
True width of down-hole intersections reported are estimated to be approximately 60-90% of the down-hole lengths.
Figure 1: Ground magnetic analytical signal image and current drill hole locations
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2661/91292_24872ee564e46896_001full.jpg
Figure 2: Jasperoide Cross Section JAS2700, 50m window
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2661/91292_24872ee564e46896_002full.jpg
Figure 3: JAS2700-02 (123.25m) showing a strongly oxidized breccia with significant secondary copper
mineralization, interval 123.0 - 123.92m assayed 5.76% Cu and 0.36 g/t Au
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/2661/91292_24872ee564e46896_003full.jpg
Figure 4: Core slab from JAS2700-04 (84.25m) showing a vuggy and intensely silicified polymictic
breccia (assays pending).
To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/2661/91292_24872ee564e46896_004full.jpg
References for Historic Data
5
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 a 100% interest in two
porphyry copper-gold properties, with one under option to Tocvan Ventures, covering 304 km
2
within the
Cascade Magmatic Arc in southwestern British Columbia.
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
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.
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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