C3 Metals resamples old core at Jasperoide
2021-01-15 08:40 ET – News Release
Mr. Kevin Tomlinson reports
C3 METALS CORE RESAMPLING PROGRAMME CONFIRMS HISTORIC COPPER-GOLD ASSAYS AT JASPEROIDE PROJECT, PERU
C3 Metals Corp. has completed a core resampling program at its flagship Jasperoide copper-gold project in Peru. The resampling program focused on core from seven holes that were drilled by Hochschild in 2011 to 2012, totalling approximately 645 metres.
The program was initiated to confirm the distribution and tenor of the skarn-hosted copper-gold mineralization and to verify historic results for future resource calculations. Results from the program confirm both the successful verification of, and significant copper intercepts in, all seven holes.
The company’s phase 1 drilling program will commence as soon as the drill camp has been completed, which is well under way. The upcoming program comprises an initial 3,500 m in approximately 15 to 20 holes of 100 to 250 m depth, nominally on 50 m centres, and is designed to demonstrate lateral and vertical continuity of the high-grade copper-gold mineralization. Drilling will start in the south and move northward along the targeted contact between the intrusive complex and the Ferrobamba formation.
Highlights include:
- There is a strong correlation between the spatial distribution of the mineralization and grades in comparison to the historic and 2020 resampled half core.
- Broad intervals of strong copper and gold assays verified in all historical drill holes, including:
- JADD11-03 returned 136 m at 0.76 per cent Cu and 0.35 gram per tonne Au (historic one-half core);
- JADD11-03 returned 136 m at 0.75 per cent Cu and 0.35 g/t Au (resampled one-half core).
- Significant zones of high-grade copper and gold assays were also verified, including:
- JADD11-04 returned 24 m at 2.96 per cent Cu and 0.70 g/t Au (historic one-half core);
- JADD11-04 returned 24 m at 2.76 per cent Cu and 0.67 g/t Au (resampled one-half core).
Kevin Tomlinson, chief executive officer, commented: “This resampling program is the first step towards determining the ultimate size and grade of Jasperoide. The drill intercepts very closely replicate previous results, giving us confidence in using historic drilling data to guide the forthcoming drilling program. Jasperoide is an exciting project that has the scope for both high grades and size. I believe copper investors and market analysts will follow our progress closely as Jasperoide is a unique asset to be in the hands of a junior company.”
Resampling program
A comprehensive exploration database has been compiled for the Jasperoide project that includes surface exploration and drilling data generated by different exploration companies since 1994. A total of 10,175.7 m in 52 holes were completed in three drilling campaigns at Jasperoide, conducted in 1994 (2,689.89 m in 14 holes), 1996 (1,854.2 m in 13 holes) and 2011 to 2012 (5,632.32 m in 25 holes).
Previous explorers focused on assaying drill core for copper and gold and selectively analyzed the core for a multielement package. It was expected that previous programs had followed protocols that are adhered to today with respect to chain of custody and quality assurance/quality control (QA/QC), and this reassay program has confirmed the historic data. Most drill core is still available from the 2011 to 2012 campaign, which has been kept in a secure storage facility in Lima, Peru.
Seven holes were selected based on alteration and copper-gold mineralization styles that are considered representative of the broader hydrothermal system at Jasperoide. A total of 404 samples of well-preserved half core were collected from seven drill holes and submitted to ALS Chemex laboratories in Peru. Sample intervals were taken according to previously sampled intervals and the same analytical method (ME-ICP41) was utilized: aqua regia with multielement ICP (35 elements) and fire assay for gold with atomic absorption spectroscopy.
Results show a strong correlation between the spatial distribution of the mineralization and grades between the historic and 2021 resampled half core. The composite weighted average copper and gold grades are reported in the attached table 1.
COMPARISON OF 2021 RESAMPLED ONE-HALF CORE WITH HISTORIC RESULTS, SHOWING COMPOSITE
WEIGHTED AVERAGE COPPER AND GOLD ASSAYS
(note that these intervals are down hole lengths and not true widths)
Hole ID From To Interval Historical (1) Historical (1) Repeat Repeat
Hole ID (m) (m) (m) Cu (%) Au (g/t) Cu (%) Au (g/t)
JADD11-03 22.00 158.00 136.00 0.76 0.35 0.75 0.35
JADD11-04 72.00 127.70 55.70 1.59 0.54 1.52 0.55
Including 96.00 120.00 24.00 2.96 0.70 2.76 0.67
JADD11-05 98.00 223.55 125.55 0.79 0.59 0.80 0.40
JADD11-09 1.50 126.00 124.50 0.64 0.29 0.69 0.31
JADD11-13 58.00 184.00 126.00 0.82 0.25 0.81 0.28
JADD11-15 164.00 215.80 51.80 1.05 0.33 0.97 0.32
JADD11-20 13.00 39.00 26.00 1.67 0.01 1.85 0.01
(1) Data retrieved from Hochschild Mining's database and internal reports. Hochschild was operator
on the Jasperoide project from 2011 to 2012 and completed two drill programs. C3 Metals has
access to the entire drill database and believes that the reporting of the information was to
industry standard practice.
Jasperoide exploration program
Jasperoide is defined by exoskarn, endoskarn and porphyry-style copper-gold mineralization that has been mapped at surface for more than three kilometres, defined in drill holes, trenches and the limited surface geochemical data. Strong magnetic and chargeability anomalies have been identified along the contact zone between carbonate rocks of the Ferrobamba formation and the multiphase intrusive complex at Jasperoide, indicating strong potential for additional zones of skarn and porphyry mineralization.
As previously announced, the company has initiated a comprehensive surface exploration mapping and sampling program, which includes statistical analysis of historic surface exploration data, multielement soil geochemical surveys, trenching across epithermal-style vein systems and district-scale geological mapping. Results from this program and the relogging/reassay program will be incorporated into the exploration database and utilized in the development of a 3-D geologic block model for the Jasperoide skarn/porphyry district.
As stated above, an initial 3,500 m of drilling in approximately 15 to 20 holes of 100 to 250 m depth are scheduled to commence soon.
Qualified person statement
Stephen Hughes, PGeo, is 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. With respect to the resampling program undertaken by the company, each assay batch is accompanied by detailed sampling protocols and stringent quality assurance procedures that include insertion of standards and blanks and check assays at a secondary laboratory. Quality control results, including the laboratory’s own control samples, will be evaluated immediately.
About C3 Metals Inc.
C3 Metals is focused on creating substantive long-term value for its shareholders through the discovery and development of large copper and gold deposits. The company’s flagship project is the poorly explored 5,700-hectare 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 holds a 100-per-cent interest in five licences covering 207 square km of highly prospective copper-gold terrain in Jamaica, a 100-per-cent interest in two porphyry copper-gold properties, with one under option to Tocvan Ventures, covering 304 square km within the Cascade Magmatic Arc in southwestern British Columbia and a 100-per-cent interest in the 46 square km Stewart Brook gold project in the Meguma gold belt of Nova Scotia.
We seek Safe Harbor.
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