C3 Metals reports initial copper and gold resources in first of 13 skarn targets at its Jasperoide project in Peru
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(Kitco News) - On Tuesday, C3 Metals (TSXV: CCCM) announced an initial mineral resource estimate for the Montana de Cobre zone (MCZ) on its 100%-owned Jasperoide project in southern Peru.
According to the report, the initial measured and indicated mineral resources amounted to 51.9 million tonnes at 0.50% total copper and 0.20 g/t gold for 569.1 million pounds of copper and 326,800 ounces of gold; and inferred mineral resources amounted to 4.0 million tonnes at 0.32% total copper, 0.11 g/t gold for 28.3 million pounds of copper and 14,600 ounces of gold.
The company said that the MCZ deposit comprises a shallow-dipping copper-gold skarn that is oxidized to greater than 200m vertical depth and with a 50m to 250m true thickness, adding that copper oxide mineralization at MCZ increases significantly with depth, with multiple drill holes intersecting 30m to 80m thick zones of greater than 2.0% copper oxide mineralization.
Importantly, C3 Metals noted that there is also potential to extend the MCZ deposit to the north, south and west.
President and CEO Dan Symons commented, "We are very pleased to announce this significant milestone of our company. The maiden mineral resource estimate at the MCZ demonstrates a near-surface, high-grade, copper-gold oxide deposit that we expect will benefit from a very low strip ratio.
"There is also potential to extend the MCZ to the north, south and west. Importantly, the MCZ is the only prospect to be systematically drilled out of 13 prospects on the 28km long Jasperoide Belt. As demonstrated by the MCZ, we see a tremendous opportunity to delineate more of these near-surface targets along the belt."
C3 Metals is a junior minerals exploration company focused on the discovery and development of large copper and gold deposits. The company holds the 26,800-hectare Jasperoide project in the prolific high-grade Andahuaylas-Yauri porphyry-skarn belt of Southern Peru. C3 Metals indicated it also holds a 100% interest in five licenses covering 20,700 hectares of highly prospective copper-gold terrain of Jamaica.
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