C3 Metals Inc (TSX-V:CCCM, OTC:CARCF) announced that it has obtained all regulatory approvals required to begin exploration drilling at its 100%-owned Khaleesi copper-gold project in Peru.
The company said that the approvals cover surface access and drilling agreements with the Cancahuani community, the Declaración de Impacto Ambiental environmental permit, authorization to start exploration activities, and authorization for water use.
An initial 14-hole, 6,000-metre diamond drill program has been designed and is expected to begin in September 2025.
“Khaleesi has long been a top geological target in our portfolio. We are very pleased that all necessary approvals are in hand for our first drill campaign at this exciting property,” C3 Metals CEO Dan Symons said.
“It's quite remarkable that within such a well-known, world-class copper producing district we will be the first company to ever conduct exploration drilling on this highly prospective property.”
Khaleesi represents an undrilled copper-gold mineralized skarn, epithermal and porphyry prospect located within the Andahuaylas-Yauri Porphyry-Skarn belt, the company highlighted.
Exploration to date at Khaleesi has included geological mapping, soil geochemistry, and multiple geophysical surveys.
A magnetic survey outlined a large near-surface anomaly that separates into two bodies at depth and coincides with induced polarization chargeability and resistivity anomalies.
The IP survey identified two discrete chargeability anomalies extending to approximately 600 metres depth, which correlate with copper geochemistry at surface.
Soil sampling outlined a copper-molybdenum anomaly measuring 1,900 metres by up to 650 metres, with two priority zones averaging 950 parts per million (ppm) and 650 ppm copper, and a copper-zinc anomaly measuring 470 metres by 400 metres that averaged 1,260 ppm copper.
Outcrop sampling returned results including 2.82% copper, 6.0 grams per ton gold, 57.7 grams per ton silver, and 403 ppm molybdenum.
According to the company, the geophysical and geochemical anomalies support the interpretation of a potentially significant porphyry, skarn and epithermal hydrothermal system at Khaleesi.
Shares of C3 Metals added16.3% on Monday morning in Toronto at C$1 and 5.3% over the counter in the US at $0.65.