Latest Rock Chip Samples Assayed up to 29.8 g/t Gold and 5.7% Copper
TORONTO, ONTARIO – November 7, 2022 – C3 Metals Inc. (TSXV: CCCM) (OTCQB: CUAUF) (“C3 Metals” or the “Company”) is pleased to report that exploration continues to expand the recently discovered epithermal gold-copper vein swarm and overall copper-gold-silver mineralization at its’ 100% owned Arthurs Seat Project in Jamaica. C3 Metals also reports its highest grade rock chip gold assay to date at 29.8 g/t gold in epithermal style mineralization.
Epithermal style quartz veining has now been mapped and sampled over a 5.0 km by 3.0 km area, occurring within a much broader 8.0 km by 4.5 km footprint of copper-gold-silver mineralization. Geologists have recently discovered epithermal-style sheeted quartz veins south of the Crawle River-Rio Minho Fault Zone (“CRFZ”).
An initial 5,000 m drill program comprised of 25 holes from 10 drill pad locations has been designed to test the vertical and lateral continuity of gold-copper mineralization. A drilling application has been submitted for Arthurs Seat, and C3 Metals intends to commence drilling immediately once permits are received.
Arthurs Seat Exploration Highlights:
- Copper-gold-silver mineralized zone expanded to 8.0 km by 4.5 km, including 113 rock chip assays grading greater than 1% copper (see Figure 1)
- Epithermal quartz vein and breccia zone expanded to 5.0 km by 3.0 km, including 28 rock chip samples grading greater than 1 g/t gold (see Figure 2)
- Latest batch of rock chip samples assayed up to 29.8 g/t gold and 5.7% copper
- Epithermal quartz veins confirmed south of the important CRFZ
- Multiple, discrete zones of high-grade copper-silver expanded in the northwest project area
- Copper-gold mineralization confirmed over 30 km between Bellas Gate – Arthurs Seat – Main Ridge
Dan Symons, President and CEO stated, “When we first announced the grassroots discovery of an outcropping epithermal vein swarm at Arthurs Seat less than two months ago, we had mapped veins to a 3.0 km by 2.0 km area within a much broader 7.0 km by 4.0 km copper-gold-silver footprint. In a very short period of time, the vein swarm has now been expanded to a 5.0 km by 3.0 km area within an 8.0 km by 4.5 km footprint. Furthermore, the discovery of veins south of the CRFZ opens up the possibility for the epithermal system to continue on to our Bellas Gate and Main Ridge Projects. Incidentally, our search for historical records indicates C3 Metals is the first company to discover and evaluate this district scale mineralized system.”
Geological mapping, supported by spectral interpretation and radiometric survey data, expanded the zone of epithermal gold-copper veining to 5.0km by 3.0km. Assays from epithermal style quartz veins reported up to 29.8 g/t gold, which also contain significant secondary copper species (see Figure 3). Multiple, discrete zones of high-grade copper mineralization occur to the northwest of the epithermal gold-copper vein swarm, returning up to 5.66% copper and 14.4 g/t silver in the latest batch of rock chip assays.
The recent discovery of epithermal quartz veins to the west and south of the important CRFZ suggests the potential to expand the epithermal mineralization further. C3 Metals has now expanded its successful mapping and sampling program to cover the entire 6,000-hectare area of the Arthurs Seat concession and the northern area of the Bellas Gate concession.
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ABOUT C3 METALS INC.
C3 Metals Inc. is a junior minerals exploration company focused on creating substantive value through the discovery and development of large copper and gold deposits. The Company holds the 26,800 hectare Jasperoide project 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). C3 Metals also holds a 100% interest in five licenses covering 20,700 hectares of highly prospective copper-gold terrain of Jamaica. Mining dates to the 1500s and 1800s when Spanish and British mining companies targeted high grade copper in veins. The Company also holds 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.
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.
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 are analysed by 4-Acid digest ICP-MS finish for 63 elements, including pathfinder REE elements with pulps from samples reporting greater than 1.0% copper being re-assayed by the ore grade method. Gold is analysed by 30g Fire Assay AAS finish, with pulps from samples reporting greater than 5ppm re-assayed by 1kg Screen Fire Assay. The Company inserts blanks and certified reference standards in the sample sequence for quality control.
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.