C3 Metals Inc (TSX-V:CCCM, OTC:CARCF) said it has expanded its land holdings around the highly prospective Jasperoide project in the world-class Andahuaylas-Yauri skarn/porphyry copper belt of southern Peru.
The company and its subsidiaries now control a total of 272 square kilometres (sq km), comprising 100% of 49 claims covering 267 sq km and the right to earn 100% in two additional third-party claims covering 5 sq km.
"Through a disciplined acquisition strategy over the past three years, the company now controls a significant near-surface copper and gold oxide deposit at Jasperoide surrounded by a pipeline of similar high potential copper and copper-gold targets in a world-class copper mining district,” Tony Manini, executive chairman of C3 Metals said in a statement.
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“As we continue to expand and evaluate mining and processing opportunities for Jasperoide, we have also commenced permitting to explore the multiple nearby high potential copper-gold prospects. Consolidating this large land position significantly enhances C3 Metals' ambition of delivering a new +50Ktpa copper mining opportunity in Peru and we look forward to providing further updates as we progress our exploration and evaluation of this highly prospective land package," he added.
Highlights include:
- Land holdings five times larger - 51 claims covering 272 sq km in major copper-producing district;
- Package surrounded by major mining companies including Rio Tinto and HudBay;
- Contiguous block between Jasperoide and Khaleesi copper-gold properties secured;
- Khaleesi project comprises 4 sq km of artisanal workings that have never been evaluated - permitting for exploration in progress; and
- Expanded land package covers at least six areas of small-scale copper and gold mining operations that have never been evaluated using modern day exploration methods
The Jasperoide Project area is located within the Andahuaylas-Yauri skarn/porphyry belt approximately 45 km east of Minmetal's Las Bambas mine and First Quantum Minerals undeveloped Haquira deposit, 40 km northwest of Hudbay's Constancia mine and 100 km northwest of Glencore's Antapaccay mine. Historical exploration in the Jasperoide Project Area has identified multiple compelling porphyry, skarn and epithermal targets that have seen limited exploration over the last 30 years.
The company looks forward to building strong and respectful relationships with all local communities, as it progresses permit applications to initiate exploration activities on the newly acquired claims.
C3 Metals is a junior minerals exploration company focused on creating substantive value for its shareholders through the discovery and development of large copper and gold deposits.
Contact the author at jon.hopkins@proactiveinvestors.com