Toronto, Ontario – March 24, 2022 – C3 Metals Inc. (TSXV: CCCM) (OTCQB: CUAUF) (“C3 Metals” or the “Company”) is pleased to advise that concurrently with drilling at its flagship Jasperoide project in Peru, the Company has secured a rig to undertake a 5,000 metre core drilling program in Jamaica to test several compelling high priority copper-gold porphyry targets. The rig is currently on route to Kingston, Jamaica and drilling is expected to commence in late April.
C3 Metals holds a 100% interest in three licenses which cover an overlooked and under explored porphyry/epithermal copper-gold belt in Jamaica. The area was the focus of historical mining by the Spanish and British and modern exploration activity included work by BHP and Oz Minerals.
- 5,000m of drilling, initially targeting a porphyry cluster at the Bellas Gate Project
- Over 20 porphyry and epithermal prospects identified within an 8 km2 area
- Proven porphyry terrain; historical, shallow copper-gold intercepts at several prospects include:
- Connors 114.0m @ 0.69% Cu, 0.52g/t Au in CON-14-004 (from 28.0m) 1
- Camel Hill 137.2m @ 0.56% Cu, 0.25g/t Au in CAM92-01 (from surface) 1
- Geo Hill 158.2m @ 0.32% Cu, 0.16g/t Au in CAM92-01 (from 3.0m) 1
- Provost 291.0m @ 0.30% Cu, 0.14g/t Au in PVT-16-002 (from 29m) 1
- Hendley 259.0m @ 0.23% Cu, 0.07g/t Au in HEN-15-003 (from 59m) 1
- Multiple holes were terminated in strong porphyry copper-gold mineralization
- New undrilled porphyry targets also defined by co-incident geophysical and geochemical anomalies at the Epidote Ridge, Coffee and White Rock Ridge prospects
- High-grade sub-cropping copper-gold veins have not been tested for strike or depth continuity
Kevin Tomlinson, President & CEO of C3 Metals, commented, “C3 Metals is very fortunate to hold a significant land package over high potential copper-gold belts in Peru and Jamaica. Drilling of our flagship Jasperoide property in Peru continues to define a near surface high-grade oxide copper-gold skarn and we are exploring this extensive alteration system for stacked high-grade skarns and their causative porphyries.
“Concurrently, our team has been advancing our little known, yet highly-prospective, Jamaican copper-gold targets. The most recent drilling in Jamaica was undertaken from 2015 to 2017 which confirmed continuous zones of strong, near-surface, porphyry copper-gold mineralization that have not been followed up. In addition, reprocessing of geophysical data and our ‘boots on the ground philosophy’ of detailed mapping and sampling have provided an understanding of the geometry and controls of the hydrothermal system.
“With the strong copper price, we consider it imperative to properly drill test these high-priority porphyry and epithermal targets.”
2022 Jamaica Drilling Program
A first stage 5,000 metre drill program is planned to evaluate multiple porphyry copper-gold targets at the Bellas Gate licence, initially focussing on “Porphyry Alley”, a 4 km by 2 km mineral district that contains the Connors, Camel Hill, Geo Hill, Epidote Ridge, Coffee and White Rock Ridge porphyry prospects (Figure 1).
C3 Metals completed a thorough review of all exploration data in 2021, including reprocessed magnetic and induced polarization data. A 3D view of the Induced Polarization model shows a large chargeability anomaly below Epidote Ridge that measures 1,200m by 600m and is spatially associated with the Connors, Camel Hill and Geo Hill porphyry bodies (Figure 3). Reprocessed magnetic data similarly shows a very large and coincident magnetic anomaly below Epidote Ridge which is interpreted as the centre of the mineralized system in Porphyry Alley (Figure 4).
Epidote Ridge is just one of a number of high value targets at depth and along strike. Details on other targets will be announced over the coming weeks.
References for Historical Data
1 Data from the above drill results are historical results and it is unknown what type of quality-control programs were performed at the time. The QP also advises that true width of the above results cannot be determined at this time.
Summary of Historical Mining and Mineral Exploration in Jamaica
At C3 Metals’ projects in Jamaica, the mining history goes back to the 1500’s when the Spanish first came to the Caribbean. Subsequently, British mining companies exploited the high grade copper deposits in the 19th Century. It wasn’t until the mid-to late twentieth century that modern exploration and mining took place in Jamaica, especially in the region of C3 Metals’ projects. Major mining companies include BHP, Noranda, Teck and Cominco which all explored for precious and base metals on the island from the 1960’s through the 1990’s. Bauxite mining has been a large contributor to Jamaica’s GDP since the 1950s, with Jamaica ranked as the world’s premier producer at the time. Since 2011, C3 Metals has created a significant amount of exploration data from multi-element geochemistry, high resolution airborne magnetic surveys, induced polarization surveys and over 10,000m of core drilling.
For additional information, contact:
President & CEO
Vice President, Investor Relations
+1 416 572 2512
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 flagship project is the 57km2 Jasperoide high-grade copper-gold skarn and porphyry system located in the prolific 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 has a 100% interest in five licenses covering 207km2 of highly prospective copper-gold terrain in Jamaica. It has identified numerous porphyry targets at Bellas Gate, a 6 km long multi-element epithermal corridor at Main Ridge and extensive copper mineralization at surface at Arthurs Seat. Jamaica, known as a world leading producer of bauxite and alumina, also has a long history of copper and gold production dating back several centuries. A stable Mining Code and a favourable fiscal regime contribute to an excellent environment for mineral exploration and development. C3 Metals also holds a 2% royalty on Tocvan’s Rogers Creek copper project located in British Columbia, Canada.
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.
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.