Company
CVE:CCCM
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 holds approximately 30,000 hectares located in the prolific high-grade Andahuaylas-Yauri Porphyry-Skarn belt of Southern Peru.
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The company said it was now expanding the survey to cover the entire permitted area, which is expected to take a month to complete, while a larger drill rig is expected in early February to test these deeper targets
The latest drill assays come from seven holes sunk at the Montaña de Cobre zone and the Cresta Verde zone at the property, with significant copper-gold mineralization hit at the former
Gross proceeds of the offering will be used to expand the drill program at the company's 100% owned Jasperoide high-grade copper-gold skarn property in Peru and to undertake a maiden drill program at the company's Bellas Gate property in Ja
Proceeds will be used to expand the drill program at the company's 100%-owned Jasperoide property in Peru and to undertake a maiden drill program at its Bellas Gate property in Jamaica
Proceeds will be used to expand the drill program at its 100%-owned Jasperoide high-grade copper-gold skarn property in Peru and to undertake a maiden drill program at its Bellas Gate property in Jamaica
Highlights from the results include 123 metres at 1.28% copper and 0.50 g/t gold in one hole, and 106 metres at 0.99% copper and 0.28 g/t gold
The assays hail from five holes at the Montana de Cobre prospect and were sunk on section JAS2700
The property hosts over 40 known copper and gold prospects and mineral occurrences
It has posted assays from three holes, which were sunk 50m north of previously high-grade drill intercepts reported in May this year
In consideration for the acquisition, C3 Metals will issue 25,001,540 common shares to Hochschild
The work will include an 1,800-line km helicopter-borne magnetic and radiometric survey and a 43-line km ground IP survey, said C3
This first phase program comprises 15 holes for 3,500 metres (m) and will test a "large-scale, copper-gold skarn-porphyry system" developed over more than 3km strike
All told, the C3 Metals issued 52,960,779 shares for gross proceeds of $7,414,509
Tomlinson is a Canadian/Australian structural geologist and investment banker with over 35 years' experience in the exploration, development and financing of mining projects globally
