Subscribe
Be the first with the news that moves the market- C3 Metals (CCCM) has received approval from Peru’s Ministry of Energy and Mines for a drill program at its flagship Jasperoide Project
- Camp construction is currently underway and drilling work is expected to follow immediately thereafter
- The company intends to drill 15 holes over a total of 3500 metres, focusing on the Montaña de Cobre, Cresta Verde and Callejón de Oro targets
- The approved schedule allows for all work, including site rehabilitation, to be completed in approximately 34 months
- C3 Metals is currently up 6.25 per cent to 8.5 cents per share
C3 Metals (CCCM) has received approval from Peru’s Ministry of Energy and Mines for a drill program at its flagship Jasperoide Project.
Located in the prolific Andahuaylas-Yauri Porphyry-Skarn Copper Belt of southern Peru, the project covers 57 square kilometres and bears a similar geological setting to a number of large nearby copper mines, including Hudbay’s Constancia mine and Glencore’s Antapaccay mine.
A contract has been awarded to a local Peruvian company to construct a 20-person camp, after which drilling is scheduled to begin immediately. The camp is expected to include insulated structures, a drill logging and core sampling facility, electricity, water and fuel storage, and internet access.
Drill site access trails and pad construction will also be completed, while drill collars have already been surveyed and marked in the field.
The proposed 15-hole, 3500-metres program represents the first drilling campaign since 2012, and has been designed to test the high-grade copper-gold skarn and porphyry targets at Montaña de Cobre and Cresta Verde, and the epithermal gold-silver target at Callejón de Oro.
Previous drilling at Montaña de Cobre returned 185.2 metres at 1 per cent copper and 0.39 grams per tonne of gold, while Callejón de Oro returned 11 metres at 19.5 grams per tonne and 1.23 metres at 27.2 grams per tonne of gold.
“We view the Jasperoide project as an exceptional copper-gold opportunity that will drill test a large-scale mineralised system in a world class copper region,” said Tony Manini, Executive Chairman of C3 Metals.
“We look forward to reporting a consistent flow of news as our drilling program ramps up over the coming months,” he added.
C3 Metals is currently up 6.25 per cent to 8.5 cents per share at 11:16am EST.
