C3 Metals Intersects 123 Metres of 1.28% Copper, 0.50 g/t Gold at Jasperoide With Drilling Continuing into New Mineralized Target at Cresta Verde
C3 Metals Intersects 123 Metres of 1.28%
Copper, 0.50 g/t Gold at Jasperoide With
Drilling Continuing into New Mineralized
Target at Cresta Verde
Toronto, Ontario--(Newsfile Corp. - September 30, 2021) -
C3 Metals Inc.
(TSXV: CCCM) ("C3 Metals"
or the "Company") is pleased to announce assays from a further seven holes from its ongoing drilling
program at the Jasperoide Copper-Gold Project, Southern Peru.
All seven holes were drilled on Line
JAS2750 at the Montana de Cobre zone, located 50 metres north of high-grade copper-gold
mineralization reported on Line JAS2700 (Press release dated September 8, 2021).
Drilling continues
to intersect high-grade copper-gold mineralization across the shallow dipping skarn domain that is
laterally extensive for 400m to 600m and varies from 100m to 150m in true thickness.
Drilling at the Cresta Verde zone is progressing well, testing a high-priority coincident magnetic - IP
anomaly located approximately 2 kilometres north-northwest of Montana de Cobre.
The target measures
1200m by 600m and drill holes JAS4350-02 and JAS4350-03 intersected significant intervals of
pervasive garnet-diopside-magnetite skarn alteration with up to 90% pyrrhotite and pyrite and with
visible chalcopyrite mineralization.
The JAS4350 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.
Drilling Highlights:
Copper-gold mineralization intersected over broad intervals on section JAS2750 includes:
JAS2750-05
229.45m @ 0.99% Cu and 0.43 g/t Au
from surface
including 23.44m @ 1.98% Cu and 0.96 g/t Au
from 69.2m
including 80.0m @ 1.89% Cu and 0.78 g/t Au
from 130.4m
JAS2750-04
123.15m @ 1.28% Cu and 0.50 g/t Au
from 66.1m
JAS2750-06
104.0m @ 0.90% Cu and 0.32 g/t Au
from surface
12.6m @ 1.57% Cu and 0.29 g/t Au
from 121.3
JAS2750-07
106.1m @ 0.99% Cu and 0.28 g/t Au
from surface
25.65m @ 1.23 % Cu and 0.03 g/t Au
from 122.3m
Additional high-sulphidation feeder structures intersected in JAS2750-03.
Better assays include:
JAS2750-03
5.3m @ 0.56g/t Au, 2.91% Cu and 16.26g/t Ag
from 101.3m
Multiple porphyry vectors point to a causative intrusive source that is potentially central to the
mineralization at Cresta Verde and Montaña de Cobre
Assay results are pending for a further 10 drill holes
Drilling is ongoing at the Cresta Verde Zone on section line JAS4050
Kevin Tomlinson, President & CEO of C3 Metals, commented,
"As we continue to define the high-grade oxide skarn at Montaña
de Cobre we are very excited to be
drilling the first coincident magnetic/IP geophysical target some 2 kilometres to the north at Cresta
Verde.
Our geologists have logged sulphide mineralization including chalcopyrite, together with
molybdenite, associated with intense skarn development in two of the first three holes at Cresta Verde.
Importantly these observations associated with a strongly coincident IP and magnetic anomaly
together with the presence of high-sulphidation feeder structures and chalcopyrite-bearing porphyry
fragments are indicative of proximity to a causative porphyry intrusion.
Jasperoide displays all the characteristics of a large mineral system with kilometre-scale copper skarn
development associated with major structures and multi-phase intrusions.
Over 80% of historical
holes were drilled to less than 250m depth, just touching the surface of this large-scale hydrothermal
system.
We are very encouraged by the drill results to date and look forward to further drilling to
evaluate and develop the full potential of the property."
A total of 34 drill holes have been completed to date with drilling now progressing on Line JAS4050
(Figure 1).
Figure 1: Montaña de Cobre Drill Collar Locations and the Magnetic Analytical Signal Image
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2661/98099_d5adbaf4a443cbd4_001full.jpg
Three drill fans in seven holes were completed on Line JAS2750, defining a strongly mineralized skarn
body with a shallow westerly dip that is contiguous for over +550m laterally (Figure 2).
Figure 2: Jasperoide Cross Section JAS2750 (50m window)
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2661/98099_d5adbaf4a443cbd4_002full.jpg
Drilling on Line JAS2750 demonstrates that skarn alteration and copper-gold mineralization thicken to
the northeast, where drill holes JAS2750-04, 05, 06 and 07 intersected pervasive garnet diopside and
magnetite skarn that is strongly oxidized to over 200m in depth.
Secondary copper species comprise
malachite, chrysocolla and azurite, occurring as disseminations, infill and in cm-scale veins (Figure 3).
Figure 3:
(Left) JAS2750-06 (122.7m).
Sample interval 122.1 - 122.9 (0.80m) assayed 2.57% Cu and
0.28g/t Au showing chrysocolla veins with interstitial malachite.
(Right) JAS2750-04 (151.95m).
Sample
interval 150.9 - 151.2 (1.3m) assayed 8.30% Cu and 0.52g/t Au showing chrysocolla and malachite.
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/2661/98099_fig3.jpg
The most westerly drill fan (JAS2750-01 and 02) intersected narrow zones of skarn mineralization with
the best interval assaying 16.75m @ 1.36% Cu and 0.47g/t Au in JAS2750-01.
Drill hole JAS2750-03 intersected multiple high-sulfidation (acid) epithermal veins similar to drill hole
JAS2700-04 (Press release dated September 8, 2021), with the best assay being 16.55m @ 1.60% Cu
and 0.58g/t Au.
Multiple cavities were encountered in this hole which was stopped short of target depth.
Table 1. Significant Drilled Intercepts on Section Line JAS2750
Hole
From
To
Length
Cu
(%)
Au
(g/t)
Ag
(g/t)
Mineralization
Style
JAS2750-01
55.65
72.40
16.75
1.36
0.47
0.96
Skarn
JAS2750-02
60.56
73.80
13.24
0.24
0.23
0.80
Skarn
JAS2750-02
84.15
90.00
5.85
0.61
0.18
0.94
Skarn
JAS2750-02
115.68
136.40
20.72
0.70
0.78
0.23
Skarn
JAS2750-03
61.40
85.00
23.60
0.42
0.12
2.15
Skarn
JAS2750-03
86.00
93.60
7.60
NSA
0.43
2.65
Epithermal
JAS2750-03
95.30
98.40
3.10
0.21
1.32
5.50
Epithermal
JAS2750-03
101.30
106.60
5.30
2.91
0.56
16.26
Epithermal
JAS2750-03
117.20
133.75
16.55
1.60
0.58
5.23
Epithermal
JAS2750-04
13.10
19.14
6.04
0.27
0.14
0.50
Skarn
JAS2750-04
66.10
189.25
123.15
1.28
0.50
3.27
Skarn
JAS2750-05
0.45
229.90
229.45
0.99
0.43
2.34
Skarn
Includes
69.20
92.64
23.44
1.98
0.96
3.69
Skarn
Includes
130.40
210.40
80.00
1.89
0.78
4.15
Skarn
JAS2750-06
0.80
104.80
104.00
0.90
0.32
1.77
Skarn
JAS2750-06
121.30
133.90
12.60
1.57
0.29
1.70
Skarn
JAS2750-07
1.50
107.60
106.10
0.99
0.28
2.74
Skarn
JAS2750-07
122.30
147.95
25.65
1.23
0.03
0.88
Skarn
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.
Cresta Verde Drilling
The Company recently completed airborne magnetic and ground IP surveys across the permitted area,
defining several coincident magnetic (Figure 1) and IP chargeability anomalies (Figure 4).
Modelling and
inversion of the geophysics data indicates the magnetic and IP chargeability anomalies strengthen with
depth and therefore represent compelling drill targets.
Figure 4: Jasperoide Chargeability Model at 650m Level
To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/2661/98099_d5adbaf4a443cbd4_005full.jpg
Three holes were completed at Cresta Verde approximately 2km to the north of Montaña de Cobre on
Line JAS4350, for a total of 1429.1 metres.
The holes were targeted on large-scale and cohesive IP
chargeability and magnetic anomalies defined from the recently completed ground IP and airborne
magnetic surveys (Figures 1 and 4).
JAS4350-01 drilled northeast (065 degrees azimuth) and was designed to test a large north-south
oriented magnetic anomaly.
The hole intersected a multi-stage intrusive complex that is locally
endoskarn altered and is cut locally by sulphide veinlets.
JAS4350-02 drilled southwest (245 degrees azimuth) and tested a separate target comprising a
coincident magnetic and IP chargeability anomaly measuring 1200m by 600m.
Moderate to strong skarn
alteration with significant sulphide mineralization was intersected from surface to 330m depth. A
hydrothermal breccia with a massive sulphide matrix was intersected from 260m to 310m depth.
The
breccia zone contains up to 90% sulphides that are dominated by pyrrhotite and pyrite, overprinted by
late-stage chalcopyrite and molybdenite mineralization (Figure 5).
From 330m to the end of the hole at
705.5m is equigranular diorite cut by millimetre to metre-scale pyrrhotite veins with chalcopyrite along
vein selvages.
The hole was terminated in mineralization due to rig capacity.
Figure 5:
(Left) JAS4350-02 (272.3m) showing brecciated skarn with massive pyrrhotite matrix and
later stage chalcopyrite mineralization as infill.
(Right) JAS4350-02 (327.5m) showing massive pyrrhotite
and pyrite with disseminated molybdenite (blue).
To view an enhanced version of Figure 5, please visit:
https://orders.newsfilecorp.com/files/2661/98099_fig5.jpg
JAS4350-03 intersected strong skarn alteration from surface to the end of the hole, containing significant
pyrite and pyrrhotite mineralization with later-stage chalcopyrite as infill.
This hole was abandoned at
381m depth after intersecting a large north-south fault.
Drilling is progressing on Line JAS4050 to test for southern extensions to the large-scale coincident IP
chargeability and magnetic anomaly.
The hole is drilling southeast and intersected massive magnetite
skarn with significant pyrite and visible chalcopyrite mineralization from 100m depth and is currently at
210m depth.
Summary
Drilling at Montaña de Cobre continues to demonstrate that the mineralized skarn is significantly
oxidized to over 200m depth and is laterally extensive for over 400 metres on Lines JAS2650, JAS2700
and JAS2750.
Copper mineralization is dominated by secondary copper species and drilling continues
to confirm broad intervals of high-grade copper-gold mineralization at the northeast area of the Montaña
de Cobre zone.
The recently completed 1,800 line kilometre helicopter-borne magnetic / radiometric survey and a 43 line
kilometre ground Induced Polarisation (IP) survey has identified four large scale and coincident magnetic
and IP Chargeability anomalies within the permitted area.
Drill holes JAS4350-02 & 03 both intersected
significant sulphides that are coincident with the largest IP Chargeability anomaly, located at Cresta
Verde zone.
A review of the 3D IP model indicates chargeability anomalies converge at depth and
demonstrate a cohesive system of high chargeability that is centrally located between the Cresta Verde
and Montana de Cobre zones, representing a compelling drill target.
Drilling and exploration studies continue to support the interpretation of a concealed porphyry copper
system at depth, with important vectors including:
Porphyry style alteration and veining
Coincident magnetic and IP chargeability anomalies
Mineralized porphyry fragments
Sulphide veining with late-stage chalcopyrite
High-sulphidation feeder structures
Molybdenite mineralization
The Company is awaiting results from soil sampling and surface mapping programs which are expected
to aid in the design of deeper drill holes to target interpreted stacked skarns and an interpreted
concealed porphyry system at depth.
Additional results will be released as they become available.
Assays are pending for all three holes on
Line JAS4350 and the rig is currently positioned on Line JAS4050.
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 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
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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