C3 Metals Inc (TSX-V:CCCM, OTC:CARCF) recently reported a significant intercept from its ongoing drill program at the Connors prospect within its Bellas Gate copper-gold project in Jamaica.
The intersection was 79 meters at 0.71% copper and 0.49 grams per ton of gold (1.06% copper equivalent) from 128 meters, including 46.0 meters at 0.95% copper and 0.69 grams per ton of gold (1.45% copper equivalent).
CEO Dan Symons in an interview with Proactive discussed the drill results as well as the recent news mining giant Barrick Gold is entering Jamaica.
Proactive: There’s been significant development in Jamaica. Let’s talk about first off where the drilling was happening and what you’re looking to accomplish with the drill program.
Dan Symons: We raised $8 million last November and the bulk of that is being invested into a drill program that we have going in Jamaica primarily at our Bellas Gate project. At Bellas Gate, we’ve identified 12 porphyry prospects running along two distinct belts that are running northeast and southwest. The more recent drill results are on a prospect we call Connors. The Connors porphyry system within the Bellas Gate prospect, where we announced 79 meters at just over 1% copper equivalent – a very good grade.
These results are going along with what you saw there before, right?
They’re very consistent. At Connors we know the grades are very consistent, it’s about finding volumes. Within the entire Bellas Gate system, we’ve tested three of the 12 porphyry prospects and whether it be Provost, Camel Hill or Connors, we’re seeing grades that are consistent with operating mine grades today. We’re early in the process. We need to add tons and volumes to this.
And is the drill program continuing there?
We’re continuing. We’re drilling today. We’re going to soon be testing a gold-rich thermal vein that was previously mined in the early 2000s called the Pennants Mine. We did a deal announced on March 1st with the only other mineral exploration company in the country, a private company by the name of Geophysx Jamaica Limited, for geophysics to gain exposure to the past-producing Pennants Mine.
Speaking of that, a big-name company has come into Jamaica and is doing some work with geophysics.
That’s right. Barrick Gold made an announcement on May 1st, just a couple of weeks ago, that they’re going to earn 80% into other Geophysx mining license areas up to 4,000 square kilometers. To put it into perspective, we have exposure to about 270 square kilometers so 4,000 square kilometers is very robust, it’s about 40% of the island. That will have Barrick essentially surround us. They have been very vocal about increasing their copper exposure, so it’s not really a surprise to see a major come in a validate what we’ve been saying that this is an extremely underexplored, highly prospective area.
Quotes have been edited for clarity and style