C3 Metals drills 2.79% copper, 0.59 g/t gold over 21 metres at Jasperoide, Peru

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C3 Metals Inc. [CCCM-TSXV; CUAUF-OTCQB] reported further outstanding results from its phase 2 drilling program at the Jasperoide copper-gold skarn/porphyry project in Peru. The recently completed phase 2 drill program, comprising a total 6,811 metres in 20 drill holes, has delineated a near surface, high-grade oxide copper-gold deposit at the Montana de Cobre zone (MCZ) and tested copper-sulphide mineralization at the nearby Cresta Verde zone (CVZ).

Phase 2 drilling program highlights include Hole JAS2900-02 that intersected 81.55 metres at 0.89% copper, 0.25 g/t gold from 21 metres, including 21.14 metres at 2.79% copper and 0.59% gold.

High-grade copper-gold oxide mineralization has been extended by approximately 100 metres to the north from drill hole JA2800-01, which assayed 48.2 metres at 1.24% copper and 0.43 g/t gold.

Phase 1 and 2 drilling has defined an oxide copper-gold mineralized deposit that is laterally extensive for up to 650 metres and has a strike length of more than 550 metres. True thickness varies from 50 to 250 metres;

Mineral domaining and updated geologic block modelling is under way. Two holes tested a heavy sulphide brecciated skarn zone at CVZ (assays pending). Eight shallow holes tested a magnetite skarn body north of the Benoni fault, where a single historic drill hole intersected 23.5 metres at 1.86% copper and 0.54% cobalt (assays pending).

Dan Symons, president and CEO, stated: “Having recently joined C3 Metals, I’m very pleased with the exploration results to date at Jasperoide. We have successfully delineated a sizable, coherent body of near-surface, high-grade copper-gold skarn mineralization and see indications of a potential porphyry system. However, I am truly excited by the fact that in a short period of time we have expanded our prospective land position by 377 per cent to 27,200 hectares and our drilling to date has only been focused on less than 20% of the total mineral tenure under C3 Metals’ control. We look forward to further testing the numerous targets identified on the wider property once exploration permits are in hand for these newly acquired concessions. Given the location, geologic setting and sheer size of our land position, we believe we are only beginning to scratch the surface on Jasperoide’s exploration potential.”

The company also drilled two deep holes (JAS3000-6 and JAS2800-07) testing the system to depths of over 1,000 metres. While altered porphyry fragments were encountered, assays reported no significant copper mineralization.

Stephen Hughes, vice-president of exploration, commented: “We are pleased to have intersected further near-surface, high-grade copper-gold skarn mineralization, which has extended the high-grade domain a further 100 metres north. Our two deep holes tested for potential porphyry and skarn mineralization below MCZ and adjacent to the Constancia fault zone, but did not intersect significant copper mineralization. However, we observed phyllic altered diorite fragments in a hydrothermal breccia, and numerous other porphyry vectors that support our interpretation of a mineralized porphyry system at Jasperoide. Work has already commenced on updating the mineral domains and geologic block model aimed at identifying additional mineralized bodies for testing in the next round of drilling.”

Exploration permitting is under way for several of the newly acquired mineral concessions. As the permitting is being progressed, the company will be undertaking sighter metallurgy leach and flotation test work on the copper-gold oxide mineralization at MCZ to assess recoveries, acid consumption, and variability characteristics for the different material types within the deposit delineated to date. The metallurgical response of the different material types aims to assess the potential viability of various processing options for the near-surface oxide copper and gold mineralization and is an important derisking milestone for the company.

Initial review of the newly acquired land package surrounding Jasperoide indicates high potential for the discovery of additional near-surface copper skarn deposits similar to the MCZ deposit.

The company’s flagship project is the Jasperoide high-grade copper-gold skarn and porphyry system located in the prolific Andahuaylas-Yauri porphyry-skarn belt of southern Peru, holding 100% ownership of 49 claims covering 26,698 hectares and the right to earn 100% in the Greatiam 10 and 70 claims covering 500 hectares. 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 licences covering 207 km2 of highly prospective copper-gold terrain in Jamaica and a 2% royalty in Tocvan’s Rogers Creek project.

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