C3 Metals Inc. (TSXV: CCCM; OTCQB: CUAUF) reported its highest-grade copper-gold-silver intersection to date at the company’s wholly owned Khaleesi project in southern Peru.
Hole KHZ5790-005 intersected 64.9 meters grading 3.45% copper equivalent from 337.6 meters downhole. The interval contained 2.53% copper, 0.873 grams per tonne gold, 11.59 g/t silver and six parts per million molybdenum.
It included 23.3 meters grading 6.64% CuEq, consisting of 4.75% copper, 1.837 g/t gold, 20.42 g/t silver and five ppm molybdenum.
High-Grade Skarn Interval
C3 Metals said the mineralization occurs in magnetite-garnet skarn containing chalcopyrite, a copper-bearing sulphide mineral.
The hole also encountered several lower-grade intervals outside the main intersection. These included 27 meters at 0.25% CuEq, 9.1 meters at 0.27% CuEq, 17.1 meters at 0.19% CuEq and 41.5 meters at 0.36% CuEq.
The results add a higher-grade component to earlier drilling at Khaleesi, which had returned broader but generally lower-grade copper-gold intervals.
An Oct. 27 update included 101.9 meters grading 0.38% CuEq followed by 70.9 meters at 0.62% CuEq in hole KHZ5960-004. Another hole returned 81.3 meters at 0.33% CuEq.
Step-Out Drilling Planned
C3 Metals plans to prioritize step-out holes approximately 50 to 100 meters from KHZ5790-005 to test the geometry, continuity and extent of the higher-grade mineralization.
The company’s second-phase program calls for up to 15,000 meters of drilling. As of Oct. 27, C3 Metals had completed approximately 16,830 meters across 38 holes from 17 drill platforms during its broader Khaleesi campaign.
Magnetic and gravity surveys covering approximately 1,500 hectares have also been completed. A three-dimensional electrical survey was expected to conclude during November, with the results intended to help refine additional drill targets.
Although the latest hole returned elevated copper and gold grades, the true dimensions and continuity of the zone have not yet been established.
CuEq Assumptions Require Caution
C3 Metals calculated CuEq using three-year trailing average metal prices of US$4.18 per pound for copper, US$2,600 per ounce for gold, US$30.54 per ounce for silver and US$21.46 per pound for molybdenum.
The calculation assumes an 80% recovery rate for each metal. However, no metallurgical testing has been completed at Khaleesi, and the company has not yet determined which metals would form the project’s principal saleable products.
The reported composites use a 0.15% copper cutoff and permit up to 12 meters of internal dilution. All intervals represent downhole core lengths, and true thicknesses have not been determined.
Khaleesi Remains an Early-Stage Project
Khaleesi is a greenfield copper skarn and porphyry prospect in Peru’s Andahuaylas-Yauri mineral belt, approximately eight kilometers west of C3 Metals’ Jasperoide project.
The company has encountered copper mineralization in each of the first 12 holes from its initial drilling phase. The known mineralized area extends from near surface to more than 500 meters vertically and remains open in several directions, according to C3 Metals.
Khaleesi does not currently have a disclosed Mineral Resource, Mineral Reserve or economic study. Additional drilling, geological modeling and metallurgical work would be required before the project’s scale or potential economic viability could be assessed.
Sources
- C3 Metals Intersects 64.9 Meters at 3.45% Copper Equivalent at Khaleesi
- C3 Metals — Khaleesi Project
- C3 Metals Reports Earlier Khaleesi Drill Results
Editorial Disclosure
This article was prepared from publicly available company disclosures. Mining Markets Report received no compensation from C3 Metals Inc. for its preparation or publication and has no disclosed business relationship with the company.
The author and publisher do not hold securities in C3 Metals Inc. The reported assays and geological interpretations were supplied by the company and have not been independently verified by Mining Markets Report.
Reported intervals are downhole lengths, and true thicknesses remain unknown. Copper-equivalent grades depend on company-selected metal prices and assumed recoveries. No metallurgical testing has been completed at Khaleesi, and the project does not currently have a disclosed Mineral Resource, Mineral Reserve or economic study.
This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell securities. Junior mining investments can be highly speculative. Readers should conduct their own due diligence and consult a qualified financial professional. Read the full Mining Markets Report disclaimer.
