Rock Chips Assayed up to 14.2 g/t Gold and 5.2% Copper
Toronto, Ontario–(September 13, 2022) – C3 Metals Inc. (TSXV: CCCM) (OTCQB: CUAUF) (“C3 Metals” or the “Company”) is pleased to report the discovery of a large-scale, intermediate sulfidation epithermal gold and copper vein swarm at the Company’s 100% owned Arthurs Seat project. First rock chip assays from this discovery returned up to 14.2 g/t Au, 5.2% Cu and 53 g/t Ag. The Arthurs Seat project is in the highly prospective Crawle River-Rio Minho Fault Porphyry and Epithermal District (“CRF District”) of Jamaica.
An extensive area of epithermal veins and breccias (Figure 1) has been outlined on the Arthurs Seat project. Field mapping to date indicates quartz vein and breccia structures up to 25 metres in true width that have been discontinuously traced over two kilometres of strike. This newly discovered vein swarm is located approximately 500 metres southeast of the previously announced high-grade copper-silver mineralization (see assays up to 13.8% Cu and 492 g/t Ag in press release dated June 2, 2022).
- Epithermal veins and breccias at the Crofts Hill target within Arthurs Seat:
- A true maiden discovery with no prior modern-day exploration – never drilled;
- A high density of intermediate sulfidation quartz vein and breccias over an area of 3 km x 2 km;
- Rock chip assays up to 14.2 g/t Au, 5.2% Cu, and 53 g/t Ag;
- Over 30% of the initial 137 rock chips collected assayed highly anomalous gold values; and
- Sheeted quartz vein and breccia zones up to 25m true width.
- Copper-Silver Zone at the Brandon Hill target within Arthurs Seat:
- Exploration limited to selective surface sampling in the 1960s – never drilled;
- Recently completed ridge and spur soils confirm a 2.5 km x 1.2 km copper in soil anomaly; and
- Discovery of amygdaloidal basalts flooded with secondary copper.
Dan Symons, President & CEO, stated, “We believe that the CRF District is a completely untapped district scale play of which C3 Metals holds 20,700 hectares. True greenfields discoveries in this day and age are very rare. We now have two highly prospective targets to evaluate within our Arthurs Seat project. We believe the underexplored nature of our Jamaican projects and the 25 km strike potential of the CRF District represents a compelling opportunity for the Company. Drill permit applications have been filed and are expected to be received in the near term. As soon as the permits for Arthurs Seat drilling are in hand, we intend to commence testing these exciting discoveries.”
The Arthurs Seat project is situated over the regionally significant CRF District, a major mineralizing structure that bisects the island of Jamaica. Very little exploration has been carried out at Arthurs Seat with many areas having never been subject to field mapping and evaluation. Arthurs Seat is contiguous to the highly prospective Bellas Gate project, where C3 Metals is currently undertaking a 5,000-metre diamond drill program and recently announced an intersection of 309.0m at 0.44% Cu and 0.33 g/t Au in the upper portion of the first drill hole of the program (see press release dated September 12, 2022).
C3 Metals’ exploration activities continue to identify copper, gold and silver mineral occurrences throughout the Arthurs Seat project. The anomalous geochemical copper-gold-silver footprint has now been expanded to 7 km x 4 km (Figure 1), covering both Brandon Hill through to Crofts Hill. Although various mineralization styles have been identified, an important vein / breccia discovery at Crofts Hill confirms potential for a large-scale and well-preserved epithermal gold vein system.
Epithermal Vein Discovery (Crofts Hill)
The extensive field of intermediate sulfidation epithermal veins and breccia zones up to 25m wide is similar to the Pueblo Viejo epithermal gold-silver deposit in the Dominican Republic with Arthurs Seat epithermal veins are hosted in volcanic and volcaniclastic rocks of Cretaceous Age. Pueblo Viejo has reserves and resources that include proven and probable gold reserves of 5.7 million ounces; measured and indicated gold resources of 15.0 million ounces; and, inferred gold resources of 2.2 million ounces (Source https://mininglifeonline.net/company-article/pueblo-viejo/10531).
Exploration activities undertaken thus far by C3 Metals have consisted of reconnaissance geologic mapping, ridge and spur soil sampling, the collection of representative rock chip and grab samples from different vein styles and spectrometer analyses. Mapping has outlined mineralized quartz veins and breccias over a 3 km x 2 km area at Crofts Hill. Assays have been received for 137 rock chip samples collected at Crofts Hill, with over 30% assaying highly anomalous gold and up to 14.2 g/t Au and 5.2% Cu (Figure 2).
Figure 1: Arthurs Seat geology map showing copper geochemistry, anomalous zone is 7 km x 4 km.
Figure 2: Rock chip samples from epithermal vein swarm at Crofts Hill area (Top Left) Vuggy quartz vein sample 768757 assayed 5.5 g/t Au. (Top Right) quartz breccia sample 768744 assayed 1.5 g/t Au. (Bottom Left) Vuggy quartz vein sample 768739 assayed 14.2 g/t Au. (Bottom Right) Banded quartz vein sample 768808 assayed 0.81 g/t Au and 5.2% Cu.
Copper-Silver Zone (Brandon Hill)
The Company continues to discover significant zones of copper mineralization at the Brandon Hill area, comprising secondary copper species (malachite, azurite, brochantite, cuprite and native copper) occurring in conglomerate, volcanic and volcaniclastic rocks. Ridge and spur soil sampling was recently completed over the entire Brandon Hill area and partial assays have outlined a copper in soil anomaly measuring 2.5 km x 1.2 km (Figure 3). Follow-up field mapping in an area of high copper in soils (up to 2780ppm Cu) identified significant secondary copper (brochantite) mineralization in a basalt (Figure 3), assays pending.
Figure 3: (Left) Significant secondary copper (brochantite) mineralization developed in an amygdaloidal basalt (Right) well-developed malachite on fracture faces in a basalt.
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.
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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 holds the Jasperoide project is located in the prolific high-grade Andahuaylas-Yauri Porphyry-Skarn belt of Southern Peru and covers 27,200 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 licenses covering 20,700 hectares of highly prospective copper-gold terrain within the CRF District of Jamaica, where mining history 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.
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.