C3 Metals Further Expands Khaleesi Copper- Gold Mineralization in Peru Latest Rock Samples Return up to 1.80% Copper, 4.4 g/t Gold, and 403 ppm Molybdenum
C3 Metals Further Expands Khaleesi Copper-
Gold Mineralization in Peru Latest Rock
Samples Return up to 1.80% Copper, 4.4 g/t
Gold, and 403 ppm Molybdenum
Toronto, Ontario--(Newsfile Corp. - January 8, 2025) -
C3 Metals Inc.
(TSXV: CCCM) (OTCQB:
CUAUF) ("C3 Metals" or the "Company") is pleased to announce results from a recently completed
surface mapping and rock sampling program at its highly promising Khaleesi copper-gold project in
Southern Peru.
Ongoing surface mapping and sampling continues to expand the previously identified
skarn, porphyry and epithermal vein copper-gold mineralization.
The most recent batch of rock chip
samples from the Company's mapping and rock sampling program returned up to
1.80% copper, 4.4
g/t gold and 403 ppm molybdenum
.
Khaleesi represents a rare opportunity to explore an undrilled copper-gold mineralized skarn, epithermal
and porphyry prospect on the world-class Andahuaylas-Yauri Porphyry-Skarn belt.
The Company has
strategically amalgamated a significant mineral concession package of over 30,000 hectares within
45km of the large Las Bambas (MMG) and Constancia (Hudbay Minerals) copper mines.
Several major
and intermediate mining companies hold mineral concessions surrounding C3 Metals' package and in
the district (Figure 1).
Dan Symons, President and CEO, stated
, "With an alteration footprint spanning 1,500m by 1,000m,
the Khalessi porphyry, epithermal and skarn copper-gold prospect rates as a Tier-1 undrilled
exploration target in an established, world-class copper mining belt.
We are in a unique position
having consolidated a large, strategic mineral concession package ahead of the recent activity by
larger companies.
Khaleesi was staked by our exploration team and now is amongst our highest
priority geologic targets.
After completing the mapping and rock sampling program, we shifted to a
grid-based soil geochemical sampling program.
This will be followed by a geophysical program
January through March 2025, so that we have a full geochemical and geophysical data set in advance
of a maiden drill program."
Highlights of Recent Mapping and Sampling Program at Khaleesi
Diorite dykes containing chalcopyrite and chrysocolla, malachite, azurite mineralization.
Rock chips assayed up to
0.50% copper, 0.34 g/t gold and 403 ppm molybdenum.
Prograde and retrograde skarn mapped over a 1,200m by 1,000m area.
Rock chips assayed up to
0.26% copper and 0.48 g/t gold.
Meter-scale epithermal veins containing bornite-chalcopyrite mineralization.
Rock chips assayed up to
1.80% copper, 29.6 g/t silver and 4.4 g/t gold.
Large prospective area is partially covered by thin glacial till.
Grid-based soil sampling campaign
is underway.
Induced Polarization, Ground Magnetic and MT/AMT geophysical surveys are planned to
commence in January 2025.
Khaleesi is approximately 8km west of the Company's Jasperoide Project and is similarly located along
a northwest trending copper-gold mineralized corridor.
At Jasperoide, the Company identified 13 skarn
prospects.
Montana de Cobre ("MCZ") is the only one of these skarns the Company has systematically
drill tested.
MCZ has a near surface Measured and Indicated Mineral Resource of 51.9 million
tonnes at 0.50% total copper and 0.20 g/t gold for 569.1 million pounds of copper and 326,800
ounces of gold.
1
Figure 1: Regional map showing C3 Metals' mineral concession package in relation to other large-scale
operations, development projects and exploration projects.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2661/236352_bb8fbe88c434ab1d_001full.jpg
Mapping and sampling at Khaleesi have confirmed an extensive zone of prograde and retrograde skarn
that measures 1,200 metres by 1,000 metres and remains open in multiple directions.
Retrograde
magnetite skarn is locally intensely mineralized with chalcopyrite and bornite sulphides (Figure 2).
Epithermal quartz breccias and veins have been mapped along strike for over 2,000 metres and contain
bornite, chalcopyrite and pyrite mineralization. These veins locally crosscut the skarn.
Porphyry-style
alteration and mineralization occurs in diorite dykes (up to 25-metres wide) and stocks in the eastern
prospect area and along the batholith contact (Figure 3).
The diorite and associated copper
mineralization in the central prospect area are covered by glacial till varying in thickness from 2 to 15
metres.
The diorite outcrops on both the western and eastern side of this glacial till.
Geochemical and
geophysical data collection will be important to understand the potential for a mineralized porphyry
system beneath the glacial till, as there is outcropping porphyry-style mineralization and alteration on
either side of the till occurrence.
Figure 2: (Left) Magnetite skarn with strong chalcopyrite mineralization. (Right) Magnetite skarn with
strong bornite mineralization.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2661/236352_bb8fbe88c434ab1d_002full.jpg
Figure 3: Khaleesi map showing pervasive magnetite and garnet-diopside skarn alteration near to an
intrusive diorite containing porphyry-style B-veins. Also showing copper in rock chip geochemistry.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2661/236352_bb8fbe88c434ab1d_003full.jpg
Next Steps
Following on from the mapping and sampling program, the Company commenced a 50-metre grid soil
sampling program over the Khaleesi project area.
The Company has contracted Arce Geofísicos to
undertake a 45.5-line kilometre ground magnetic survey, a 24.5-line kilometre Induced Polarization
survey and complete a MT/AMT survey (14 full tensor stations) during the first quarter of 2025.
Data from
grid-soils and geophysics programs will provide essential surface and subsurface data that will be used
to design a maiden drill program.
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
holds approximately 30,000 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.
The Company is also actively exploring in Jamaica where it has identified 16
porphyry, 40 epithermal and multiple volcanic redbed copper prospects over a 30km strike extent.
The
Company holds a 100% interest in 17,855 hectares of exploration licenses and a 50% interest in 9,870
hectares in a joint venture with Geophsyx Jamaica Ltd, the largest mineral tenure holder in the country.
Barrick Gold Corp. announced on May 1, 2024 that it had entered into an earn-in agreement with
Geophysx Jamaica Ltd. on approximately 400,000 hectares of exploration licenses, several of which
surround C3 Metals' mineral concessions.
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).
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 surface rock chip samples were sent to the ALS assay laboratories in Lima, Peru and the
Company 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.
Rock chip 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.
On average, 10% of the submitted samples
are quality control samples. No data quality problems were indicated by the QA/QC program.
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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Based on the assumptions and parameters outlined in the NI 43-101 Technical Report titled
Jasperoide Copper-Gold Project Cusco Region, Peru dated July 5, 2023.
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