Rock Chips Assayed up to 14.4 g/t Gold, 245 g/t Silver and 11.1% Copper
TORONTO, ONTARIO – October 12, 2022 – C3 Metals Inc. (TSXV: CCCM) (OTCQB: CUAUF) (“C3 Metals” or the “Company”) is pleased to report it has significantly expanded the previously reported Arthurs Seat, Jamaica epithermal gold-copper vein swarm discovery by an additional 1.5 km to the east of the initial discovery (see press release dated September 13, 2022). The high-density, low-intermediate sulphidation epithermal veins have now been mapped and sampled across a 4.5 km by 2.0 km area. This expansion increases the copper-gold-silver mineralized footprint at Arthurs Seat to an area of 8.0 km by 4.0 km.
A second batch of rock chip samples from the vein swarm assayed up to 14.4 g/t Au, 245 g/t Ag and 11.1% Cu. These results follow previously reported assays up to 14.2 g/t Au, 53 g/t Ag and 5.2% Cu. The swarm of north-south and east-west trending quartz vein and quartz-rich breccias have been mapped proximal to the regionally significant Crawle River-Rio Minho Fault District (“CRF District”), along an emerging fertile belt for porphyry copper-gold and epithermal copper-gold-silver deposits.
Arthurs Seat Exploration Highlights:
- Copper-gold-silver mineralization expanded to an 8.0 km by 4.0 km area
- High-density, low-intermediate sulphidation epithermal quartz vein and breccia zone expanded to a 4.5 km by 2.0 km area
- Individual rock chips assayed up to 14.4 g/t Au, 245 g/t Ag and 11.1% Cu
- Mineralization includes chalcopyrite, chalcocite, pyrite, bornite, malachite and azurite
- Drill permit application submitted and progressing
Dan Symons, President and CEO stated, “The Arthurs Seat discovery has now been expanded to an 8.0 km by 4.0 km area, which demonstrates the potential scale of this copper-gold-silver system. Given the sheer size of the CRF District, we believe that this mineralized zone has potential to continue to expand even farther. Within this anomaly, the outcropping, high-density epithermal vein swarm has now been mapped and sampled over a 4.5 km by 2.0 km area. Rock chip assays have returned multiple high-grade results (+14 g/t Au and 5% Cu) from locations 1.5 km apart. We now have eight geologists in the field mapping and sampling to advance this significant target area in advance of drill targeting.”
C3 Metals has successfully expanded the footprint of copper-gold-silver mineralization at Arthurs Seat and continues to discover copper-rich structures within the 8.0 km by 4.0 km contiguously mineralized corridor (see Figure 1). Assays from the copper-rich zone to the northwest of the epithermal gold-copper vein swarm have returned up to 13.8% Cu and 492 g/t Ag (see press release dated June 2, 2022).
C3 Metals’ ongoing mapping and sampling program has also expanded the significant epithermal quartz vein and breccia system to 4.5 km by 2.0 km. Quartz-rich structures are up to 30m in true width and are comprised of massive quartz veins, quartz breccias and sheeted quartz veins that have been discontinuously traced along strike for over 2.0 km (see Figure 2). The quartz veins and quart-rich breccia zones contain variable percentages of pyrite, chalcopyrite, bornite, malachite and azurite. Rock chip samples have returned numerous high-grade results from epithermal veins, including up to 14.4 g/t Au, 245 g/t Ag and 11.1% Cu.
An extensive mapping and sampling program is currently underway. Over 1,000 rock chips have been sent to Actlabs for analysis. A drill permit application has been submitted for Arthurs Seat, and C3 Metals intends to immediately drill test the epithermal vein swarm once permits are received.
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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.
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.