Toronto, Ontario--(Newsfile Corp. - February 19, 2025) - C3 Metals Inc. (TSXV: CCCM) (OTCQB: CUAUF) ("C3 Metals" or the "Company") is pleased to announce results of a highly successful grid-based soil sampling campaign over the Khaleesi Copper-Gold project area in Southern Peru. Previous mapping and rock sampling identified an alteration footprint spanning 1,500m by 1,000m. Within this alteration footprint, skarn-, porphyry- and epithermal-style copper-gold mineralization has been identified (see press release dated January 8, 2025).
Grid soils have now defined a significant copper-molybdenum anomaly, which extends for over 1,900m and is locally up to 650 meters wide with two zones averaging 950ppm copper and 650ppm copper (Figure 1). For reference, copper in soils at or above 300ppm is considered anomalous.
Figure 1: Khaleesi map showing three well defined zones of pervasive copper-in-soil geochemistry. Also showing glacial till zone that appears to conceal mineralized rock below.
Dan Symons, President and CEO, stated, "The high-grade copper-in-soil geochemistry results at Khaleesi show a very large anomaly that suggests a hydrothermal system of considerable scale. These results support our interpretation of a potential large-scale, porphyry, skarn and epithermal system at Khaleesi. We are rapidly advancing geophysical surveys so that we have all required data in hand prior to a maiden diamond drill program. We anticipate the geophysical surveys and subsequent modeling will be completed by the end of March 2025. This will allow us to get a subsurface view - importantly, what is happening beneath an area of glacial till. On either side of the till occurrence, soil samples have returned spectacularly high copper-in-soil results over very large areas. Based on preliminary geophysical data coming back in real time, it appears there is a large anomaly under the glacial till zone. Khaleesi is shaping up to be a very exciting target that has never been drill tested within a well-known, world-class copper producing belt."
Highlights of the Khaleesi Exploration Program
Completed a comprehensive 50m spaced grid soil sampling program, covering the 3.3 sq km porphyry, epithermal and skarn alteration zone.
Outcrop samples assayed up to 2.82% copper, 6.0 g/t gold, 57.7 g/t silver and 403 ppm molybdenum (see press releases dated October 22, 2024 and January 8, 2025).
Defined a 1,900m long by up to 650m wide copper-molybdenum soil anomaly, with two priority zones averaging 950ppm copper and 650ppm copper in soils (Figure 1). For reference, copper in soils at or above 300ppm is considered anomalous.
Defined a 470m long by 400m wide copper-zinc soil anomaly averaging 1,260ppm copper over top of a well-defined zone of prograde and retrograde skarn alteration (Figure 1).
Significant copper sulphides identified in skarn at surface.
Ground magnetic (Mag), Induced Polarization (IP) and Magnetotellurics (MT) surveys are underway and are anticipated to be completed by the end of March 2025.
Khaleesi represents a rare opportunity to explore an undrilled copper-gold mineralized skarn, porphyry and epithermal prospect on the world-class Andahuaylas-Yauri Porphyry-Skarn belt. The Company has strategically amalgamated a significant mineral concession package of over 30,000 hectares within 45km of the large Las Bambas (MMG) and Constancia (Hudbay Minerals) copper mines. Several major and intermediate mining companies hold mineral concessions surrounding C3 Metals' mineral concession package and in the district (Figure 2).
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 first of these skarns the Company systematically drill tested, 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 gold1.
Figure 2: Regional map showing C3 Metals' mineral concession package in relation to other large-scale operations, development projects and exploration projects.
Exploration results to date indicate that a potentially significant porphyry, skarn and epithermal copper-gold system may occur within the Khaleesi project area. The porphyry target occurs in the eastern project area (Figure 1) and is defined by grid-soils, rock geochemistry and a large magnetic high defined in regional magnetic airborne survey conducted in 2021. Grid soils defined a 1,900m by up to 650m wide copper in soil anomaly, with soils averaging 950ppm copper in the south zone and 650ppm copper in the north zone. The coincident magnetic high is interpreted to represent "secondary magnetite alteration" in the diorite, common to most porphyry systems around the world.
The skarn target occurs in the western project area (Figure 1) and is similarly defined by grid-soils and rock geochemistry. Grid soils defined a 470m by up to 400m wide copper - zinc in soil anomaly, with soils averaging 1,260ppm copper and 450ppm zinc. The soil anomaly occurs over an extensive zone of prograde and retrograde skarn that measures 1,200m by 1,000m. Metre-scale epithermal veins and breccia zones occur in outcrop west of the skarn body. The 2021 regional magnetic airborne survey was not flown over this area, as C3 Metals did not own the mineral concessions over the skarn target at the time the survey was flown. Currently ground magnetic, IP and MT surveys are currently underway over the Khaleesi project area.
Soil sampling also included the 1.3 sq km area with glacial till cover, varying from less than 1m to 15m in thickness. Glacial till appears to mask or conceal the interpreted skarn and porphyry mineralized zone. Soil samples are only mildly elevated in copper between the skarn and south zones in the area of glacial till. However, early data from lines of the ground geophysical surveys indicate large anomalies under the till occurrence. Once all geophysical data has been collected and modeled, the Company will provide an update with these geophysical survey results.
Next Steps
The exploration team is overseeing a 45.5-line kilometre ground magnetic survey, a 24.5-line kilometre IP survey and 14 full tensor stations of MT over the Khaleesi project area, which is anticipated to be completed and modeled by the end of March 2025.
Ground magnetic, resistivity, chargeability and conductivity data will be used in conjunction with surface geochemistry and mapping information to define the first ever diamond drilling program to test the three well-defined porphyry and skarn targets within the Khaleesi project area.
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, 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 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 surface soil samples were sent to the ALS assay laboratories in Lima, Peru and the Company adheres to a strict QA/QC protocol for handling, sampling, sample transportation, preparation and analyses. Chain-of-custody protocols are designed to ensure security of samples until their delivery at the laboratory.
Soil samples were collected in 100m-spaced East-West sampling lines at 50m-spaced sample stations along the line. Sampling lines are perpendicular to anomalous geological features identified in geological mapping, rock geochemistry and other historical data. Soil pits were dug carefully with a digger bar, pickaxe, shovel and plastic scoop to a depth averaging 60cm, to target the B horizon and to collect approximately 4kg of soil material.
Soil samples were sent to ALS Arequipa for preparation with oven dry at <60°C/140°F and sieving to -180 micron (80 mesh). Soil samples are analysed by aqua regia digestion of 25g sample, followed by trace Au and multielement analyses by ICP-MS and ICP-AES finish on the AuME-TL43 package for a suite of 51 elements. On average, 10% 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. 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.
________________________ 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.
