C3 Metals Mobilizes Second Drill Rig to Jasperoide, Peru Testing High Potential Copper-Gold Porphyry and Stacked Skarn Targets
C3 Metals Mobilizes Second Drill Rig to
Jasperoide, Peru
Testing High Potential Copper-Gold Porphyry and Stacked
Skarn Targets
Toronto, Ontario--(Newsfile Corp. - February 7, 2022) -
C3 Metals Inc.
(TSXV: CCCM) ("C3 Metals" or
the "Company") is pleased to announce a second and larger drill rig on site at Jasperoide, Peru.
The
new rig is set up on the first drill platform to test a high potential porphyry and stacked skarn copper-gold
target delineated from recently acquired geophysical data coupled with 2021 drill results.
Jasperoide Stage 2 Drill Program Highlights:
Deeper capacity rig on site to test high priority copper-gold porphyry and stacked skarn targets at
the Montaña de Cobre and Cresta Verde zones
First hole at Montaña de Cobre has commenced testing coincident geophysical targets (Hybrid
CSAMT and IP) proximal to the intersection of large scale faults which transect the nearby copper
mine deposits at Las Bambas and Constancia
Cresta Verde drilling to test for higher grades below massive sulphide skarn hosted copper-
molybdenite mineralization intersected in 2021 drilling
Drilling at the Montaña de Cobre copper oxide skarn deposit is expected to be completed shortly.
The smaller capacity rig will then be demobilized
Kevin Tomlinson, President and CEO
of C3 Metals commented, "The 2021 exploration season in
Peru was very successful.
The initial program of 11,700 metres of diamond drilling delineated
a
sizeable, shallow, high grade oxide copper-gold skarn system at the Montaña de Cobre
zone
and
intersected highly promising skarn-hosted copper sulphide mineralization at Cresta Verde zone.
Our initial drilling coupled with newly acquired geophysical and geological data strongly supports our
interpretation that a deeper-seated causative porphyry is driving the large mineralized hydrothermal
system at Jasperoide.
The presence of multi-phase intrusions, extensive skarn development,
mineralized porphyry fragments, molybdenite mineralization, porphyry-style alteration and high
sulphidation feeder structures are all features common in other large scale porphyry copper systems
in Peru.
We are very excited to be drilling these compelling targets.
The Jasperoide system is extensive with
the high grade MCZ copper-gold deposit representing only part of the overall potential.
The larger drill
will enable us to more effectively test for additional copper-gold skarn bodies and the causative
porphyry copper source at depth."
2021 Exploration Summary
The initial 2021 exploration program at Jasperoide comprised drilling, airborne magnetics, ground IP,
Hybrid CSAMT ("HCSAMT"), TerraSpec4 Hi-Res spectrometer alteration mineralogy, petrology, core
re-sampling, a structural analysis of the Jasperoide district, detailed relogging of drill core, geological
mapping and sampling.
Results have provided a wealth of information to advance our understanding of
the hydrothermal processes at Jasperoide and the potential for discovery of a porphyry system at depth.
A total of 46 drill holes have been completed to date for 11,743m, comprising 8,552m in 40 holes at
Montaña de Cobre zone and 3,191m in six holes at the Cresta Verde zone.
Results of the drilling and
associated exploration programs are consistent with a large scale porphyry / skarn hydrothermal system.
At the Montaña de Cobre zone, drilling has defined a shallow dipping and well developed oxide copper-
gold skarn deposit with associated structurally controlled high sulphidation mineralization.
Figure 1
below details geological observations in drill core which provide strong supporting evidence for a
proximal causative porphyry intrusion.
Figure 1: (Top Left) Polymictic breccia with a large, mineralized diorite fragment containing 5%
disseminated chalcopyrite (Top Right) Massive sulphides at the Cresta Verde zone with coarse
molybdenite mineralization (Bottom Left) Breccia, skarn fragments in a massive sulphide matrix, infilling
the matrix at the Cresta Verde zone with strong pyrrhotite and chalcopyrite mineralization (Bottom Right)
High sulphidation style breccia, intensely silicified and vuggy
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2661/112991_c3fig1enhanced.jpg
An interpretation of the recently completed first pass Hybrid CSAMT geophysical survey indicates the
skarn / high sulphidation feeder structures observed at the Montaña de Cobre zone transition to a
potential porphyry system at depth.
Inversion of the Hybrid CSAMT data shows a sub-vertical resistive
feature (silicified Benoni Fault) which appears to connect the Montaña de Cobre
zone to a much larger
resistive feature interpreted as a porphyry centre at depth (Figure 2).
Figure 2: (Left) Oblique 3D view of the Hybrid CSAMT interpolated model, looking northwest. (Right)
Hybrid CSAMT north-south section showing large resistive feature below the Montaña de Cobre zone,
an interpreted concealed skarn and porphyry system
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2661/112991_926b2f48542f8bdc_008full.jpg
An initial 5,000 metres of drilling is planned to assess the coincident geophysics, structural and
geochemical target areas at the Montaña de Cobre
and Cresta Verde zones.
Figure 2 (Right) shows the
projection of the first hole at the Montaña de Cobre zone, which is designed to test for stacked skarns
below the marble front and a porphyry copper on the southern side of the Benoni Fault.
Following the initial success of the Hybrid CSAMT, an expanded survey to cover the entire permitted
area
is expected to be completed this month.
The data will be used to refine drill targeting at the Cresta
Verde zone down-dip of the near surface mineralized skarn and massive sulphides that were intersected
in JAS4350-02.
Results will be released as they become available.
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 207km
2
of highly prospective copper-gold terrain in Jamaica and a 2% royalty in Tocvan's
Rogers Creek project.
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.
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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