C3 Metals Intersects 164.6 Metres at 0.35% and 119.5 Metres at 0.30% Copper Equivalent at Its Khaleesi Project, Peru - Mineralization Extended North
C3 Metals Intersects 164.6 Metres at 0.35%
and 119.5 Metres at 0.30% Copper Equivalent
at Its Khaleesi Project, Peru - Mineralization
Extended North
Toronto, Ontario--(Newsfile Corp. - September 15, 2026) -
C3 Metals Inc.
(TSXV: CCCM) (OTCQB:
CUAUF) ("C3 Metals" or the "Company") is pleased to announce results from three additional holes
drilled at its 100%-owned Khaleesi copper project ("Khaleesi" or "the Project") in southern Peru.
Drilling
has further extended mineralization along section lines KHZ5950 and KHZ5750 (Figure 1), with drill hole
KHZ5825-004 intersecting broad intervals of copper mineralization (Table 1).
Khaleesi Highlights
Mineralization expanded below glacial till cover:
KHZ5825-004
intersected pervasive porphyry- and skarn-style alteration with primary and
secondary copper mineralization.
A
119.5m
zone of diorite reported
0.24% copper, 0.035
g/t gold, 0.79 g/t silver, 47 ppm molybdenum (0.30% CuEq)
from approximately 48m
vertical depth.
This was followed downhole by a
164.6m
intercept of pyroxene and magnetite
skarn that reported
0.28% copper, 0.028 g/t gold, 0.93 g/t silver, 51 ppm molybdenum
(0.35% CuEq)
from approximately 280m vertical depth (304.5m downhole depth).
Mineralization confirmed to a vertical depth of approximately 500m and over 500m in east-west
dimension (Figure 2).
Dan Symons, President and CEO, stated
, "We continue to drill broad intervals of copper mineralization
at grades that are very consistent with the mineral reserve grades reported from the nearby
Constancia mine operated by Hudbay Minerals.
A mineralized intrusive and skarn zone to a depth of
500m immediately beneath a thin layer of glacial till cover has now been established.
This zone is
currently more than 500m in east-west dimension and remains open to the north, east and west.
Importantly, a combination of new gravity and magnetic geophysical data is correlating extremely well
with magnetite skarn hosted copper mineralization in drilling.
This new geophysical data is showing us
several additional drill targets."
Table 1: Assay Results from 3 Drill Holes at Khaleesi, Peru
Hole ID
From
(m)
To
(m)
Length
(m)
Cu
(%)
Au
(g/t)
Ag
(g/t)
Mo
(ppm)
CuEq*
(%)
KHZ5825-004
48.40
167.90
119.50
0.24
0.035
0.79
47.26
0.30
KHZ5825-004
182.80
238.40
55.60
0.18
0.021
0.51
44.01
0.23
KHZ5825-004
304.50
469.10
164.60
0.28
0.028
0.93
51.34
0.35
KHZ5860-001
161.80
172.50
10.70
0.25
0.271
2.51
28.42
0.53
KHZ5860-002
No
Significant
Assays
Notes
*Copper Equivalent (CuEq) for drill intersections is calculated based on three-year trailing average for each commodity (2023, 2024 and 2025) which
equates to US$ 4.18/lb Cu, US$ 2,600/oz Au, US$ 30.54/oz Ag and US$ 21.46/lb Mo, with 80% metallurgical recoveries assumed for all metals.
The
formula is: CuEq % = Cu % + (0.907 x Au g/t) + (0.0107 x Ag g/t) + (0.00051 x Mo ppm).
Since it is unclear what metals will be the principal products
and as Khaleesi is an early-stage greenfield project with no metallurgical test work completed, assuming different recoveries is premature at this
stage.
As such an 80% recovery rate is justified.
Composite intervals are calculated using length weighted averages based on a combination of lithological breaks and copper assay values
according to a 0.15% Cu cutoff and include a maximum of 12 meters of internal dilution. All intervals reported in this table are down hole core
lengths.
True thicknesses have yet to be determined. Mineral resource modelling is required before true thicknesses can be estimated.
Figure 1. Geology plan map of the completed drill holes to date, with copper (Cu - oranges) and
molybdenum (Mo - blues) mineralization plotted along the trace of the holes, projected to surface.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2661/314324_eac98f1f04c4f951_001full.jpg
To date, approximately 15,100m of drilling has been completed in 33 holes (from 17 drill platforms) with
one additional hole in progress (Table 2).
Drilling is targeting a northwest trending contact zone between
a multi-phase intrusive complex and carbonate rocks of the Ferrobamba Formation along the well-known
Andahuaylas-Yauri copper belt.
Drilling has defined five styles of mineralization to date (Figure 2), including:
Secondary copper species in a near-surface enrichment zone within the multi-phase intrusive
complex;
Primary low to moderate chalcopyrite - bornite - molybdenite mineralization in the intrusive
complex below the enrichment zone;
Chalcopyrite - bornite - molybdenite mineralization in garnet, pyroxene and magnetite skarns;
High-grade, mantos-style copper mineralization; and,
Narrow intermediate-sulphidation epithermal veins hosting base and precious metal
mineralization.
Near surface diorite hosted in-situ secondary copper mineralization varies from 25m to 100m in true
thickness and transitions to chalcopyrite-bornite-molybdenite mineralization at depth.
There are "rafts" of
magnetite skarn within the diorite that appear rootless.
The main skarn body occurs at 300m depth and
comprises 1) garnet - pyroxene endoskarn altered diorite 2) garnet - pyroxene exoskarn and an iron-rich
magnetite exoskarn replacing dolomite of the Ferrobamba Formation. The east dipping skarn has been
confirmed to be more than 500m in east-west dimension, varies from 50m to 200m in true thickness and
remains open to the north, east and west (Figure 3).
Below the main skarn body is a weakly mineralized
diorite.
Figure 2. Cross-sections through lines KHZ5950 (Top) and KHZ5750 (Bottom), highlighting drill hole
KHZ5825-002 and significant copper mineralization intersected.
Note the east-dipping skarn wedge and
the skarn raft at surface.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2661/314324_image2.jpg
Next Steps
Drone magnetic and gravity surveys were recently completed over an initial area of 900 hectares.
This
new data correlates well with existing drill data where a large coincident magnetic and gravity high is
demonstrated to be a copper mineralized skarn body over 500m in east-west dimension and down to
500m depth, which remains open to the north, east and west.
Due to the success of the surveys at
identifying additional coincident magnetic and gravity highs, the Company has expanded the survey area
by an additional 600 hectares or over 65%.
The Company had planned for a 3DIP survey to be undertaken during August and September (see press
release dated June 24, 2026).
Commencement of the survey was delayed due to contractor delays
importing the necessary equipment into Peru.
The 3DIP survey is now scheduled to commence before
the end of September and be completed during Q4.
3DIP data is crucial for drill targeting potential
porphyry sources or causative intrusives for two reasons:
1
.
It detects chargeability highs from surface to a depth of approximately 1km to indicate the
presence and intensity of sulphide minerals; and,
2
.
It provides conductivity and resistivity data to a depth approximately 1km to indicate rock units that
are more conductive or resistive to mineralizing fluid flow.
Additionally, surface mapping and soil sampling continues across the broader Khaleesi project area and
is expected to be completed in during Q4.
The Company continues drilling and is testing additional
skarn targets and expanding on the known skarn and diorite mineralization.
The Company looks forward to reporting geophysics survey results and additional assay results as they
become available.
Table 2: Drill Collars, Completed and In-Progress Holes at Khaleesi, Peru
Hole ID
Azimuth
Dip
Depth
Easting
Northing
Elevation
Status
KHZ5140-001
250.00
-60.00
552
178483
8435130
4420
COMPLETE
KHZ5140-002
330.00
-50.00
517
178478
8435140
4420
COMPLETE
KHZ5140-003
90.00
-51.00
434
178478
8435140
4420
COMPLETE
KHZ5140-004
215.00
-50.00
452
178483
8435133
4420
COMPLETE
KHZ5150-001
0.00
-65.00
300
179570
8435125
4302
COMPLETE
KHZ5200-001
25.00
-65.00
497
179253
8435194
4334
COMPLETE
KHZ5325-001
5.00
-55.00
858
178443
8435320
4412
COMPLETE
KHZ5450-001
155.00
-65.00
201
178720
8435457
4420
COMPLETE
KHZ5500-001
115.00
-55.00
536
179629
8435492
4295
COMPLETE
KHZ5550-001
305.00
-60.00
531
179089
8435573
4366
COMPLETE
KHZ5675-001
151.00
-45.00
300
178644
8435669
4461
COMPLETE
KHZ5675-002
85.00
-46.00
351
178644
8435669
4461
COMPLETE
KHZ5775-001
40.00
-61.00
510
179674
8435773
4332
COMPLETE
KHZ5775-002
151.00
-55.00
606
179676
8435771
4332
COMPLETE
KHZ5780-001
101.00
-50.00
250
178679
8435777
4455
COMPLETE
KHZ5790-001
110.00
-50.00
301
178966
8435797
4405
COMPLETE
KHZ5790-002
220.00
-65.00
578
178968
8435799
4405
COMPLETE
KHZ5790-003
60.00
-65.00
259
178966
8435797
4405
COMPLETE
KHZ5790-004
160.00
-55.00
173
178966
8435797
4405
COMPLETE
KHZ5800-001
90.00
-55.00
626
178770
8435797
4435
COMPLETE
KHZ5800-002
168.00
-65.00
521
178772
8435797
4435
COMPLETE
KHZ5825-001
240.00
-60.00
517
179251
8435824
4347
COMPLETE
KHZ5825-002
120.00
-65.00
489
179256
8435829
4347
COMPLETE
KHZ5825-003
270.00
-70.00
507
179256
8435829
4347
COMPLETE
KHZ5825-004
280.00
-50.00
516
179252
8435827
4347
COMPLETE
KHZ5825-004A
280.00
-50.00
50
179253
8435827
4347
ABANDONED
KHZ5850-001
128.00
-60.00
582
178493
8435855
4507
COMPLETE
KHZ5860-001
225.00
-65.00
492
178143
8435859
4471
COMPLETE
KHZ5860-002
53.00
-55.00
236
178146
8435861
4471
COMPLETE
KHZ5950-001
79.00
-65.00
565
178782
8435948
4422
COMPLETE
KHZ5960-001
250.00
-70.00
507
179206
8435953
4361
COMPLETE
KHZ5960-002
85.00
-45.00
211
179201
8435952
4361
COMPLETE
KHZ5960-004
43.00
-87.00
608
179200
8435952
4361
COMPLETE
KHZ5960-005
90.00
-76.00
463
179200
8435952
4361
INPROGRESS
About the Khaleesi Project
The Khaleesi project is located in the Andahuaylas-Yauri Belt in southeastern Peru, home to large
copper skarn and porphyry deposits and operating mines such as Las Bambas (MMG), Constancia
(Hudbay Minerals), Antapaccay (Glencore), and others (Figure 3).
Figure 3: 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/2661/314324_eac98f1f04c4f951_004full.jpg
Khaleesi is located 8km west of the Company's Jasperoide Project, where the Company confirmed 13
skarn prospects along a 28km iron-skarn belt. Montana de Cobre ("MCZ") is the only skarn along the
28km iron-skarn belt that the Company has systematically drill tested to date, yielding
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
The Khaleesi project is situated along a highly favorable limestone-intrusive rock contact zone that
bisects the tenement area and trends north-northeasterly.
The limestone rock unit is part of the highly
receptive Ferrobamba Formation, and the intrusive rock comprises the well-known Andahuaylas-Yauri
Batholith.
At this contact zone is a multiphase intrusive complex that also appears to trend northeast-
southwest, that follows and exploits the contact zone, which is mostly covered by a thin layer of glacial till.
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 31,000 hectares located in the prolific high-grade Andahuaylas-Yauri Porphyry-
Skarn belt of Southern Peru, which contain the Company's Jasperoide and Khaleesi projects.
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 13 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
1
.
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, of which Freeport-McMoRan Exploration
Corporation, a wholly-owned affiliate of Freeport-McMoRan Inc. (NYSE: FCX), has the option on 13,020
hectares to earn up to a 75% interest by funding up to US$75 million of exploration and project related
expenditures.
The Company also holds a 50% interest in 9,870 hectares in a joint venture with Geophsyx
Jamaica Ltd, the largest mineral tenure holder in the country.
Barrick Mining Corp. announced on May 1,
2024 that it had entered into an earn-in agreement with Geophysx Jamaica Ltd. on approximately
400,000 hectares of exploration licenses, several of which surround C3 Metals' mineral concessions.
Mining is currently the second largest industry in Jamaica, and historical mining dates back to the
colonial eras of the 1500s (Spanish) and 1800s (British).
Related Link:
www.c3metals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
QP Statement
Stephen Hughes, P.Geo. is Vice President Exploration and a Director for C3 Metals and is a Qualified
Person as defined by National Instrument 43-101.
Mr. Hughes has reviewed the technical information in
this news release and approves the written disclosure contained herein.
Copper Equivalent Formula
Copper Equivalent (CuEq) for drill intersections is calculated based on three-year trailing average for
each commodity (2023, 2024 and 2025) which equates to US$ 4.18/lb Cu, US$ 2,600/oz Au, US$
30.54/oz Ag and US$ 21.46/lb Mo, with 80% metallurgical recoveries assumed for all metals.
The
formula is: CuEq % = Cu % + (0.907 x Au g/t) + (0.0107 x Ag g/t) + (0.00051 x Mo ppm).
Since it is
unclear what metals will be the principal products and as Khaleesi is an early-stage greenfield project
with no metallurgical test work completed, assuming different recoveries is premature at this stage.
As
such an 80% recovery rate is justified.
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' Khaleesi Project camp, Cusco Region, Perú, by Company personnel.
Before entering the cutting room, the drill core samples are marked lengthwise with a yellow line, and the
core saw followed these lines to cut each sample. 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 PQ3 and
HQ3, depending on the depth of the drill hole. Samples were bagged, tagged and packaged for
shipment via local freight transport service to the ALS preparation laboratory in Arequipa, Arequipa
Region, Perú. Entire samples were dried and weighed, then crushed to 85% passing 10 mesh (2mm).
From this, a 1.5 kg split was pulverized to 90% passing 200 mesh (75µm).
The prepared, pulp samples were sent via ALS to the ALS assay laboratory in Lima, Lima Region, Perú,
for copper, gold and multi-element analysis. ALS is an accredited laboratory which is independent of the
Company. Gold assays were done by fire assay fusion (Au-AA23) with AAS finish on a 30g sample.
Copper was assayed by ICP-AES following a 4-acid digestion via the ME-MS61r package for a suite of
60 elements. Any copper sample over detection limit (i.e., greater than 10,000ppm or 1% Cu) was
additionally assayed via ICP-AES using the package ME-OG62. High and low copper, gold and iron
standards, as well as blanks and duplicates (coarse crush split and pulp), were randomly inserted into
the sampling sequence for quality control. On average, 11% 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. 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, 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.
1
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/314324