C3 Metals Inc (TSX-V:CCCM, OTC:CARCF) said it has struck copper at its flagship Jasperoide project in Peru, located in a cohesive and mineralized 650-meter (m) long skarn body in the Montaña de Cobre zone that is strongly oxidized from the surface to over 250m in depth.
The Toronto-based company said it intersected 1.19% copper from 58.8m below the surface, and has received assays from the final six drill holes of its phase 2 drilling program at the site located in the prolific Andahuaylas-Yauri porphyry-skarn belt of southern Peru.
According to C3 Metals, the Montaña de Cobre zone copper and gold oxide skarn body has a variable true thickness of 50m to 250m. The company said it has completed a 73-hole, 20,070m drill program in two phases.
READ: C3 Metals expands land holdings around highly prospective Jasperoide project in Peru
The results included 3.11% copper at 53.2m and 0.46 grams per ton (g/t) gold at 92.6m in hole JAS2650-05, 1.19% copper in hole JAS2800-07 at 58.8m, and 1.15% copper at 118.7m and 0.37 g/t gold at 87.3m.
C3 Metals CEO Dan Symons said Montaña de Cobre zone has been drilled at roughly 50m intervals over approximately 90% of the skarn target.
“The phase 2 drill program has confirmed that the copper grades increase significantly at depths below 50m to 75m. In several instances we have encountered over 5% copper along the base of the zone,” Symons said in a statement.
With all assay results now in hand, C3 Metals said it is focusing on updating the block model, commencing metallurgical test work and continuing its community relations and drill permit programs.
“We believe there is potential for multiple skarn and porphyry targets within the recently expanded land position that now sits at approximately 27,000 hectares. Once drill permits are in hand on these newly acquired mineral concessions, it is our intention to commence initial drill programs on multiple copper-gold prospects,” Symons said.
The upper skarn is an intensely leached cap with low to moderate grade copper-gold mineralization. The grade of mineralization increases significantly below the oxidized cap, including bonanza grades such as 20.1m at 5.83% copper, 0.87 g/t gold from 96.3m in JAS2700-09.
To the northwest of the Montaña de Cobre zone, C3 Metals said it has located another skarn target, the Cresta Verde Zone on the other side of the Benoni fault, which is known to be an important structural break in this region. The Cresta Verde zone will be evaluated further, after modeling of the lithology and structure are completed.
C3 Metals is a junior minerals exploration company working on the discovery and development of large copper and gold deposits. C3 Metals also holds a 100% interest in five licenses covering 207 square kilometers of highly prospective copper-gold terrain in Jamaica and a 2% royalty in Tocvan’s Rogers Creek project in British Columbia.
Contact the author at susie@proactiveinvestors.com