Toronto, Ontario--(Newsfile Corp. - February 5, 2025) - C3 Metals Inc. (TSXV: CCCM) (OTCQB: CUAUF) ("C3 Metals" or the "Company") is pleased to announce significant gold results from its soil and channel sampling campaigns at its 50%-owned Super Block project in Jamaica. C3 Metals is the operator of the project, a 50/50 joint venture with Geophysx Jamaica Limited ("Geophysx"); see press release dated March 1, 2024.
The Super Block project comprises 9,870 hectares and is located west of C3 Metals' 100%-owned Arthurs Seat and Bellas Gate projects. The project is surrounded by mineral concessions in which Barrick Gold has the right to earn an 80% joint-venture interest with Geophysx (Figure 1). Recently completed closely spaced soil and channel sampling at Super Block confirms strong gold geochemistry along trend and of similar intensity to the former Pennants Gold Mine.
The former Pennants Gold Mine operated as an open pit between 2002 and 2004. Estimated production was approximately 16,000 gold ounces (Source: Jamaica Mines and Geology Division). Pennants reported a non-compliant NI 43-101 historical mineral resource of 75,500 tonnes at 20.4 g/t gold1,2. Historical high-grade drill intersections3 from Pennants included (drill results are historical in nature and have not been independently confirmed):
1.7m at 430.0 g/t gold;
3.8m at 56.4 g/t gold;
4.6m at 25.6 g/t gold;
9.2m at 18.4 g/t gold; and
3.1m at 17.0 g/t gold.
Dan Symons, President and CEO, stated, "Recent geochemical sampling across the Super Block project identified highly anomalous gold geochemistry over a +5km strike to the northwest and southeast of the former, high-grade Pennants Gold Mine. For reference, any gold in soil sample that returns at or above 0.04 g/t gold or higher is considered anomalous. Tightly spaced soil lines identified multiple zones of anomalous gold geochemistry. The best lines averaged 0.41 g/t gold over 60m and 0.20 g/t gold over 103m. The soil results are consistent with the gold in soil geochemistry over the former, high-grade Pennants Mine, which reported a historical resource at 20.4 g/t gold. We are now finalizing the design of a diamond drill program to systematically test the highly anomalous gold zones."
Super Block Project Surface Sampling Highlights:
Anomalous gold in rocks and soils at the Super Block project are directly associated with radiometric (potassium) anomalies (Figure 2).
Surface sampling extends the trend of gold mineralization to +5,000m and remains open in both directions along strike.
At the Pennants East Zone prospect ("PEZ"), gold is highly anomalous in soils and coincides with a 1,500m east-west trending radiometric (potassium) anomaly.
Best soil line results are 60m averaging 0.41 g/t gold and 103m averaging 0.20g/t gold with samples collected at 5m intervals. For reference, gold in soil assays above 0.04 g/t gold are considered anomalous.
At the Donkey Hill Zone prospect ("DHZ"), highly anomalous gold is in weathered bedrock. It coincides with a 550m by 150m northwest-southeast trending radiometric (potassium) anomaly.
Best channel sample result is 10m averaging 0.41 g/t gold, a combination of highly weathered rock and soil.
A first pass 2,500m diamond drilling program is planned to commence late Q1 to early Q2 2025.
Figure 1: Map showing the Super Block project area in relation to C3 Metals' 100%-owned Arthurs Seat and Bellas Gate mineral concessions. Note the locations of the former, high-grade Pennants Gold Mine and the DHZ, PEZ and LVZ epithermal gold-silver prospects.
The Super Block project is host to various copper-gold and silver mineralization styles including low to intermediate sulphidation epithermal vein and volcanic redbed systems. Outcrop is scarce, limited to small creeks and locally along ridgelines. To sufficiently test the mineralized corridor, close spaced soil and locally channel sampling was undertaken and completed during Q4 2024. The primary focus of this surface sampling program was on the PEZ and DHZ prospects with the goal of continuing to expand the gold mineralization corridor beyond the former Pennants Gold Mine (Figure 2).
Figure 2: Airborne radiometric image (potassium) showing a strong correlation of gold in soils and rocks with radiometric anomalies. Map shows the Super Block soil line locations at DHZ and PEZ prospects.
At PEZ, a total of 631 soil samples were collected from 15 soil lines with sample sites generally at 5m spacings. Soil sampling focused on a defined 1,500m anomalous gold zone (Figure 3) that extends southeast from Pennants and continues along strike to the northwest and southeast. Strong gold in soil results were confirmed along the PEZ radiometric anomaly (Table 1). The anomaly remains open to the northwest and east.
Figure 3: Airborne radiometric image (potassium) showing a 2,500m (east-west oriented) radiometric anomaly coincident with strong gold in soils. Map of Super Block shows 15-soil lines at PEZ prospect and the best average gold in soil anomalism.
Table 1: Strong Gold Geochemistry Along Select PEZ Soil Lines at the Super Block Project
SOIL LINE ID
Length (m)
Au (g/t)
Sample Material Comments
PEZ-24-001
25
0.35
Soil and Volcanic Material
PEZ-24-002
60
0.41
Soil and Volcanic Material
PEZ-24-003
62
0.27
Soil and Volcanic Material
PEZ-24-012
103
0.20
Soil and Volcanic Material
At DHZ, channel sample results are from 13 broadly spaced trenches designed to test the grade, continuity and thickness of sparsely outcropping zones of epithermal gold mineralization (Table 2). A total 341 samples of trench material were collected, with 86 samples assaying from 0.10 g/t gold and up to 6.21 g/t gold. The most significant gold results are directly associated with an NE-SW trending radiometric anomaly (Figure 2).
Table 2: Super Block DHZ Channel Sample Results
LINE ID
From
To
Length
Au (g/t)
Comments
DHZ-24-001
41
52
11
0.20
Volcanic & Vein Material
DHZ-24-001
57
62
5
0.23
Volcanic & Vein Material
DHZ-24-002
0
9
9
0.30
Volcanic & Vein Material
DHZ-24-003
0
7
7
0.40
Volcanic & Vein Material
DHZ-24-005
0
4
4
0.40
Volcanic & Vein Material
DHZ-24-006
0
3
3
0.73
Volcanic & Vein Material
DHZ-24-007
0
10
10
0.41
Volcanic & Vein Material
DHZ-24-010
0
5
5
0.14
Volcanic & Vein Material
Next Steps
The Super Block project has demonstrated gold mineralization over a +5km strike extent and remains open in both directions. The recent soil and trench results clearly indicate the Super Block shows significant potential for a gold discovery. Based on the historical information available for the Pennants Gold Mine, the Company interprets this large gold anomaly as potentially hosting multiple low to intermediate sulfidation systems.
An initial 2,500m diamond drilling program in 14 holes has been designed to drill test these compelling gold and coincident radiometric anomalies. Currently, DHZ and a portion of the 1.5km strike extent at PEZ are permitted for drilling. The Company will be applying for drill permits for the remaining portion of the PEZ prospect and Pennants areas. Based on the Company's previous drill permitting experiences in Jamaica, this process has historically been completed within three months.
Additional surface exploration soil and channel sampling is also recommended to the east and north of the PEZ prospect. This will potentially identify further strike extensions to the gold trend. This is warranted, as there are wide-spaced soil samples that returned highly anomalous gold values and are coincident with a strong radiometric signature (Figure 3).
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).
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 handling, sampling, sample transportation and analyses. Chain-of-custody protocols are designed to ensure security of samples until their delivery at the laboratory.
Soil samples were collected in North-South to Northeast-Southwest planned sampling lines at 5m- or 10m- spaced sample stations along the line. Sampling lines are perpendicular to anomalous geological features identified in fact mapping and historical data. Soil pit was dug carefully with digger and trowel to the depth of approximately 2 to 3 feet to target C horizon and to collect approximately 2kg of soil material. Field duplicate was collected from the same pit and same soil horizon. Samples were sun-dried and sieved at C3 Metals' operations base in Bellas Gate, St Catherine, Jamaica by Company personnel. Approximately 160g of sieved soil sample of minus 80 mesh (180um) fraction was prepared. Pulp duplicate was collected by random scooping of the minus 80 mesh (180um) material.
Samples were bagged, tagged and packaged for shipment by DHL air freight service to the ALS Vancouver, British Columbia, Canada where size test was performed to 100% passing 80 mesh (180um) on 4% of samples in a batch. Additional preparation with oven dry and 80 mesh sieving was done on less than 100% size test passing batch. The prepared samples were sent to the ALS assay laboratories in Vancouver, Canada for copper, gold and silver assays, and multi-element ICP. ALS is an accredited laboratory which is independent of the Company. Gold assays were by fire assay fusion with AAS finish on a 30g sample and the overlimit gold assay was completed by fire assay and gravimetric finish on 30g sample. Copper and silver were assayed by ICP-MS following a 4-acid digestion on the ME-MS61 package for a suite of 48 elements and the over limit copper by 4-Acid digestion and assayed by ICP-AES on each sample with copper greater than 10000ppm (1%). Copper and gold standards as well as blanks and duplicates (field duplicate and pulp split) were inserted into the sampling sequence for quality control. On average, 6.3% 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.
1The mineral resource cited above is presented as a historical estimate and uses historical terminology which does not conform to current National Instrument 43-101 ("NI 43-101") standards. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Although the historical estimates are believed to be based on reasonable assumptions, these estimates were calculated prior to the implementation of NI 43-101. As these historical estimates do not meet current standards as defined under sections 1.2 and 1.3 of NI 43-101, C3 Metals is not treating the historical estimate as current mineral resources or mineral reserves.
2Published report, Geochemical exploration for gold in Jamaica: A comparison of stream sediment and soil surveys, Geochemistry: Exploration, Environment, Analysis, 4, 161-170, 1 May 2004, authored by Robert G. Garrett, Gerald C. Lalor and Mitko Vutchkov.
3Data from the above drill results are reported historical results and it is unknown what type of quality-control programs were performed at the time. C3 Metals' QP also advises that true width of the above results cannot be determined at this time.
