C3 Metals Drills 294 Metres at 0.30% Copper and 0.13 g/t Gold (0.39% CuEq1) from Surface at Bellas Gate, Jamaica

Rhea-AI Summary

C3 Metals announced a significant copper-gold drilling result at its Bellas Gate project in Jamaica. The highlight comes from drill hole CMH8390-001, which intersected 294.0 meters at 0.30% copper and 0.13 g/t gold from the surface, terminating in 0.36% copper at 600 meters. This follows a previous report of 207.8 meters at 0.43% copper and 0.20 g/t gold from hole CMH8350-001. Two other holes at Geo Hill showed low to moderate copper-gold mineralization, while a hole west of Camel Hill showed extensive alteration but no significant assays. The results suggest a large hydrothermal system extending across 2 kilometers. Moving forward, the company plans more drilling and is updating its geological models.

Positive

• Drill hole CMH8390-001 intersected 294.0m at 0.30% copper and 0.13 g/t gold.
• The hole terminated in 0.36% copper at 600m depth, indicating strong mineralization.
• Previous drill hole CMH8350-001 reported 207.8m at 0.43% copper and 0.20 g/t gold.
• Two holes at Geo Hill showed low to moderate grade copper-gold mineralization.
• The results suggest a large hydrothermal system spanning approximately 2 kilometers.
• C3 Metals is updating its 3D geological models and planning further drill holes.

Negative

• Hole GOM8525-001, drilled west of Camel Hill, returned no significant assays.
• The company's exploration is still at an early stage, with many areas yet to be drill tested.
• There is metallurgical data to estimate copper-gold recoveries with precision.

Toronto, Ontario--(Newsfile Corp. - June 5, 2024) - C3 Metals Inc. (TSXV: CCCM) (OTCQB: CUAUF) ("C3 Metals" or the "Company") is pleased to announce it has intersected 294.0m at 0.30% copper and 0.13 g/t gold from surface in drill hole CMH8390-001 at its Camel Hill porphyry prospect in its 100%-owned Bellas Gate project (Figure 1). The drill hole terminated in 0.36% copper mineralization at 600.0m. This result is a follow up to drill hole CMH8350-001 that reported 207.8m at 0.43% copper and 0.20 g/t gold (0.57% CuEq¹) from 22.0m downhole, including 135.0m at 0.52% copper and 0.27g/t gold (0.71% CuEq¹) (see press release dated October 4, 2023).

Drilling Highlights

• Drill hole CMH8390-001 assayed 294.0m at 0.30% copper and 0.13 g/t gold (0.39% CuEq¹) from surface. After going through a barren dyke, the hole resumed in mineralization and terminated in 0.36% copper at 600.0m.

• CMH8390-001 confirms strongly altered diorite porphyry with chalcopyrite-rich quartz stockwork veining.

• Two additional holes (GOH9075-001 and GOH9075-002) drilled at Geo Hill approximately 1.2km north-northwest of CMH8390-001 intersected low to moderate grade copper-gold mineralization over broad intervals.

• A hole drilled approximately 500m west of Camel Hill (GOM8525-001) returned no significant assays but showed pervasive epidote-chlorite-pyrite alteration with locally patchy chalcopyrite, which can be a very common alteration signature within the exterior halo of a porphyry system.

• The northwest-southeast trending copper-gold anomaly hosting greater than 225ppm copper in soil geochemistry with coincident magnetic and IP chargeability geophysical anomalies stretches approximately 2.0km from Geo Hill to Camel Hill.

• Geo Hill and Camel Hill appear to be spatially and genetically associated and represent a large porphyry complex that has only been partially drill tested.

Dan Symons, President and CEO, stated, "We continue to intersect long, broad intervals of strong copper mineralization at the Bellas Gate project. These drill results from both Camel Hill and Geo Hill, combined with coincident geochemical and geophysical anomalies over approximately 2km, suggest a large hydrothermal system. In fact, when stepping back and looking at our Bellas Gate and Arthurs Seat projects, there is 18km of strong copper-gold soil and rock geochemistry with confirmed multiple porphyries clustered along two distinct northwest-southeast trending belts. Our goal is to find the most fertile areas of this expansive system and work to define economic volumes."

Figure 1 - Map of C3 Metals' mineral concessions in relation to other mineral concessions showing the location of the Geo Hill and Camel Hill porphyry copper-gold prospects within the Bellas Gate project.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2661/211747_4381e7dfd495f8a4_001full.jpg

The Company continues to confirm near surface porphyry copper - gold mineralization with the most recent significant assays coming from Camel Hill and Geo Hill prospects (Table 1).

Table 1. Recent intercepts from the Bellas Gate Project

HOLE ID	From (m)	To (m)	Length (m)	Cu (%)	Au (g/t)	CuEq1 (%)
CMH8390-001	9.00	303.00	294.00	0.30	0.13	0.39
CMH8390-001	378.00	423.00	45.00	0.21	0.13	0.30
CMH8390-001	596.00	600.00	4.00	0.26	0.07	0.30
GOH9075-001	60.00	78.00	18.00	0.27	0.05	0.31
GOH9075-001	90.50	118.60	28.10	0.22	0.07	0.27
GOH9075-001	162.00	277.00	115.00	0.28	0.07	0.33
GOH9075-002	57.00	104.00	47.00	0.25	0.05	0.29
GOH9075-002	134.00	214.00	80.00	0.23	0.06	0.27
GOM8525-001		No	Significant	Assays

 

¹ Copper equivalent (CuEq) calculation is for reporting purposes only and was determined based on CuEq (%) = Cu (%) + ((0.7097 × Au g/t) under metal price assumptions of Copper - US$3.00/lb, Gold - US$1,800/oz. As the Bellas Gate project is an early-stage exploration project and there is insufficient metallurgical data to allow for estimation of recoveries, porphyry copper-gold recoveries are estimated based on multiple comparable porphyry-style copper-gold deposits (Alumbrera, Batu Hijau, Fish Lake, Mt Milligan, El Pachon, Agua Rica, Cerro Casale and Skouries) which averaged 90% recovery for copper and 73% for gold. A nominal cut-off of 0.2% CuEq is used for the reporting of potentially significant intercepts and higher-grade cut-offs are 0.4% CuEq.

Maximum contiguous dilution within each intercept is 10m for 0.2% and 0.4% CuEq. Samples have been composited to two and maximum three metre lengths.

² All intervals are reported as core lengths, as true widths of the mineralized intervals are unknown at this time.

Drilling in Jamaica is evaluating porphyry and epithermal style mineralization associated with multi-phase intrusive complexes. The objective is to establish a significant volume of near-surface copper-gold mineralization that would encompass a bornite-rich core as is commonly associated with economic porphyries. A large area between Geo Hill and Camel Hill with copper in soil greater than 225ppm and coincident magnetic and IP chargeability geophysical anomalies has yet to be drill tested (Figures 2 and 3).

Figure 2: Plan map showing recently completed drill holes at Bellas Gate. Map shows copper in soil and rock geochemistry and all rocks over 0.5% copper are labeled. Section line shown for Figure 3.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2661/211747_4381e7dfd495f8a4_002full.jpg

Figure 3: Cross section through the 3D magnetic inversion model and three magnetic-apophyses emanating off a lower angle magnetic body at Camel Hill and Geo Hill porphyry systems. A strong copper in soil anomaly remains untested between Camel Hill and Geo Hill, and the system is open at depth.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2661/211747_4381e7dfd495f8a4_003full.jpg

Next Steps

C3 Metals has intersected significant near surface copper-gold mineralization in multiple holes completed at the Bellas Gate project. Porphyry mineralization is interpreted as high level and is telescoped by later stage epithermal copper-gold mineralization. Locally bornite has been observed at deeper levels in Camel Hill. The Company is now updating 3D geologic models and planning further drill holes to evaluate both the near surface and deeper levels of the Camel Hill porphyry system.

In addition, the Company has completed trenching and channel sampling at its 100%-owned Arthurs Seat project and its 50%-owned Super Block project. C3 Metals looks forward to providing additional assay results as they become available.

For additional information, contact:

Dan Symons
President and CEO
+1 416 716 6466
dsymons@c3metals.com

ABOUT C3 METALS INC.

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 is 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 and 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). The Company also 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.

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.

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 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 were cut at C3 Metals' operations base in Bellas Gate, St Catherine, Jamaica by Company personnel. Diamond drill core was sampled in maximum 3-metre intervals, stopping at geological boundaries, and using a rock saw. Core diameter is a mix of HQ3 and NQ3 depending on the depth of the drill hole. Samples were bagged, tagged and packaged for shipment by DHL air freight service to the ALS preparation laboratory in Sudbury, Ontario, Canada where entire samples were crushed to 70% passing 10 mesh (2mm), and a 250g split was pulverized to 85% passing 200 mesh (75µm).

The prepared samples were sent to the ALS assay laboratories in Vancouver, Canada for copper, gold and silver assays, and multi-element ICP. ALS is an accredited laboratory which is independent of the Company. Gold assays were by fire assay fusion with AAS finish on a 30g sample and the overlimit gold assay was completed by fire assay and gravimetric finish on 30g sample. Copper and silver were assayed by ICP-AES following a 4-acid digestion on the ME-ICP61 package for a suite of 33 elements and the over limit copper by 4-Acid digestion and assayed by ICP-AES on each sample with copper greater than 10000ppm (1%). Copper and gold standards as well as blanks and duplicates (coarse crush split) were randomly inserted into the sampling sequence for quality control. On average, 9% of the submitted samples are quality control samples. No data quality problems were indicated by the QA/QC program.

¹ Copper equivalent (CuEq) calculation is for reporting purposes only and was determined based on CuEq (%) = Cu (%) + (0.7097 × Au g/t) under metal price assumptions of Copper - US$3.00/lb, Gold - US$1,800/oz. As the Bellas Gate project is an early-stage exploration project and there is insufficient metallurgical data to allow for estimation of recoveries, porphyry copper-gold recoveries are estimated based on multiple comparable porphyry-style copper-gold deposits (Alumbrera, Batu Hijau, Fish Lake, Mt Milligan, El Pachon, Agua Rica, Cerro Cassle and Skouries) which averaged 90% recovery for copper and 73% for gold. A nominal cut-off of 0.2% CuEq is used for the reporting of potentially significant intercepts and higher-grade cut-offs are 0.4% CuEq. Maximum contiguous dilution within each intercept is 10m for 0.2% and 0.4% CuEq. Samples have been composited to two and maximum three metre lengths.

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.

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FAQ

What is the significance of C3 Metals' recent drilling results at Bellas Gate?

C3 Metals' recent drilling at Bellas Gate intersected 294.0m at 0.30% copper and 0.13 g/t gold, indicating strong mineralization from the surface.

How did drill hole CMH8390-001 perform?

Drill hole CMH8390-001 intersected 294.0m at 0.30% copper and 0.13 g/t gold, terminating in 0.36% copper at 600m.

What were the results of the drill hole CMH8350-001?

Drill hole CMH8350-001 reported 207.8m at 0.43% copper and 0.20 g/t gold from 22.0m downhole.

How did the additional drill holes at Geo Hill perform?

The additional drill holes at Geo Hill intersected low to moderate grade copper-gold mineralization over broad intervals.

What was the outcome of the drill hole west of Camel Hill?

Drill hole GOM8525-001 west of Camel Hill returned no significant assays but showed pervasive alteration.

What are the next steps for C3 Metals at Bellas Gate?

C3 Metals plans to continue drilling and update its 3D geological models to better understand the copper-gold mineralization at Bellas Gate.