C3 Metals Inc, formerly Carube Copper, told investors that drilling at its flagship Jasperoide copper-gold project in Peru continues to suggest the presence of a porphyry deposit at depth.
The company has posted assays from three holes, which were sunk 50 metres (m) north of previously high-grade drill intercepts reported in May this year, and included an intercept of 99.81m at a grade of 0.90% copper and 0.34 grams per ton (g/t) gold from 68.4m depth.
Also encountered was 118.71m grading 1.15% copper and 0.37 g/t gold from 87.3m depth.
READ: C3 Metals acquires 100% of Hochschild Mining's interest in its flagship Jasperoide Copper-Gold Project in Peru
"The high-grade results received from the first 10 holes of the 2021 drilling campaign have exceeded our predictions and provide strong evidence that a sizable copper-gold system is present at the Montaña de Cobre Zone. We are now drilling our 22nd hole on the zone with assays awaited on 12 holes," said C3 CEO Kevin Tomlinson.
"As we continue to drill Jasperoide, the results support our interpretation of a well-developed copper-gold skarn system linked to a mineralized porphyry intrusion at depth.
"To date, drilling has identified mineralized copper sulphide bearing porphyry fragments, porphyry type veining and most recently an interpreted feeder structure. These observations are important evidence of a porphyry system beneath or proximal to the skarn deposit as typically seen in the large copper mines operating in the district."
The company added that the drilling at the Montaña de Cobre zone showed that skarn hosted copper-gold mineralization was open in all directions and extended both laterally and along strike.
The Jasperoide project is a 57 square kilometres (sq km) high-grade copper-gold skarn and porphyry system located in the prolific Andahuaylas-Yauri Porphyry-Skarn belt of southern Peru.
C3 Metals also holds 100% interest in five licenses covering 207 sq km of highly prospective copper-gold terrain in Jamaica, and a 100% interest in two porphyry copper-gold properties, with one under option to Tocvan Ventures, covering 304 sq km within the Cascade Magmatic Arc in southwestern British Columbia.
Contact the author at giles@proactiveinvestors.com