C3 Metals Inc (TSX-V:CCCM, OTC:CARCF) announced that additional drill holes at its Provost target at the Bellas Gate project in Jamaica have confirmed bornite mineralization.
It said drillhole PVT0825-001 (596.7 metres) intersected 280.7 metres at 0.37% copper and 0.21 grams per ton (g/t) gold (0.52% copper equivalent) from 227 metres, including 61.7 metres at 0.50% copper and 0.39 g/t gold (0.77% copper equivalent) from 446 metres.
C3 believes PVT0825-001 may have “clipped” the top of the bornite core of the porphyry system, with bornite, hypogene chalcocite mineralization, and potassic alteration confirmed at about 500 metres depth.
It said the presence of bornite mineralization and potassic alteration corresponded with a spike in grades to 1.14% copper and 1.19 g/t gold (1.98% copper equivalent) over a 2.5-metre interval.
C3 Metals CEO Dan Symons said in a statement that Provost looks increasingly like a classic, fully intact copper-gold porphyry.
“The results from PVT0825-001 are very important for multiple reasons: 1) it extends copper-gold mineralization 150 metres at depth, 2) the first bornite mineralization and potassic alteration was encountered, and 3) the ratio of sulphide mineralization transitions from pyrite to chalcopyrite to bornite as we go deeper into the system,” he said.
“With this transition, the grades of both copper and gold increase. We plan to prioritize a deep hole to test below PVT0825-001 into the interpreted core of the system.”
C3 Metals said it is planning a follow-up drillhole using its larger capacity contract drill rig, which has a depth capacity of more than 1,000 metres, to test for a high-grade bornite-rich potassic core beneath hole PVT0825-001.
“After closing an oversubscribed and upsized private placement of $8.05 million earlier this month, we are well funded to expand our drilling program and provide continuous news flow from the drill bit,” Symons said.
C3 Metals is a mineral exploration company focused on creating substantive value for its shareholders through the discovery and development of large copper and gold deposits.
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