Copper

C3 Metals Inc. is pleased to announce the 2022 exploration program at the Company's Jasperoide Project is well underway with a larger drill rig expected on site early February to replace a smaller capacity rig. A Hybrid Controlled Source Audio-Magnetotelluric survey test was completed over the Montaña de Cobre and the Cresta Verde zones, which has identified probable feeder structures linked to a potential ...

C3 Metals Inc. (TSXV: CCCM) (OTCQB: CUAUF) ("C3 Metals" or the "Company") is pleased to announce the 2022 exploration program at the Company's Jasperoide Project is well underway with a larger drill rig expected on site early February to replace a smaller capacity rig. A Hybrid Controlled Source Audio-Magnetotelluric ("Hybrid CSAMT") survey test was completed over the Montaña de Cobre and the Cresta Verde zones, which has identified probable feeder structures linked to a potential causative copper-gold porphyry system at depth. The larger drill rig has the depth capacity to test these targets. The existing rig will continue drilling on the Montaña de Cobre zone to further extend and evaluate the oxide copper-gold deposit delineated to date until it is changed out.

Survey highlights:

  • Newly acquired Hybrid CSAMT geophysical data indicates a potential causative intrusion at depth central to mineralization at the Montaña de Cobre and Cresta Verde zones
  • Strong resistivity features are identified at the intersection of the regional-scale Benoni and Constancia Faults which transect the large-scale Las Bambas and Constancia copper mines respectively
  • 3D geophysical modelling highlights a potential cluster of intrusive bodies linked to mineralizing fault conduits confirming earlier geological models for Jasperoide
  • The Hybrid CSAMT survey has been extended to rapidly cover the entire area permitted for exploration and drilling over the next month
  • A second deeper capacity drill rig is being mobilized to site to test these compelling concealed copper-gold porphyry and stacked skarn targets

Steve Hughes, Vice President, Exploration of C3 Metals commented,

"Hybrid CSAMT is recognized by the industry as an excellent geophysics tool to identify structures that mineralizing fluids systems exploit, and can provide reliable data to a depth of over 1,500 metres or more. This trial survey has been immensely successful at delineating deep-seated, large-scale feeder structures at Jasperoide. Feeder structures, mineralized porphyry fragments and mineralization / alteration styles are important vectors that provide further evidence that a potential large-scale porphyry system occurs at depth. We look forward to testing deeper levels of the system with the arrival of a bigger rig in early February."

Kevin Tomlinson, President and CEO of C3 Metals added,

"Our 2021 program demonstrated the potential for high-grade, copper-gold deposits at Jasperoide. Now, with the oversubscribed +$19 million financing recently in hand, we have the treasury to not only expand the known high-grade deposit but to drill for the "elephant", a potential billion ton porphyry copper deposit. The combination of a growing near surface high-grade, copper-gold oxide skarn deposit and multiple large-scale porphyry copper targets provides C3 Metals with a compelling opportunity to grow an exciting new mid-tier copper company."

Hybrid Controlled Source Audio-Magnetotelluric Survey

A Hybrid CSAMT geophysical survey was undertaken and completed in December 2021 to augment previously completed ground IP, geochemical, geological, airborne magnetic and radiometric surveys. HSAMT is used as an exploration tool to identify resistive and conductive features that typically correlate to structure, zones of silicification and clay alteration, to depths of over 2 kilometres. Data from the survey has outlined regionally important structures which appear to relate to the large, nearby copper deposits at Constancia and Las Bambas (Figure 1).

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Figure 1: Jasperoide location map showing important deposits and structural trends

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2661/109792_6edd09f9d443a839_001full.jpg

Inversion of the Jasperoide Hybrid CSAMT data outlines multiple deep and shallow resistive and conductive features (Figure 2). Two well-defined NNW-SSE trending linear and contiguous resistive features (+100m in width) are coincident with the Constancia Fault which trends from the Constancia copper mine 35km to the southeast and is an important structural feature at Jasperoide. Both resistive features are sub-vertical and bisect the Benoni Fault, an important east-west trending structural feature which appears to trend toward the Las Bambas copper mine 40km to the west (Figures 1 and 2). Hydrothermal alteration and geophysical features within the footprint of the large resistive features are also potentially indicative of a concealed causative porphyry.

The linear resistive features are kilometre-size in scale and show significant depth extent, coalescing at depth to where a concealed mineralized porphyry centre is interpreted. Pseudo sections for lines L600 and T3600 clearly illustrate sub-vertical resistive features and a larger resistive feature at depth (Figure 2) which the Company will test with the larger rig.

Survey Parameters

The Hybrid CSAMT survey was carried out by Geofisica TMC, a company based in Val D'Or Quebec with divisions operating in Mexico and the United States. Data points were collected on grid lines oriented ENE-WSW and NNW-SSE using 100m and 200m station spacings, covering an area of approximately 2.5km x 1.5km. Overall, data quality is considered well above average and no stations were affected by power lines, steep terrain, houses or roads.

Results were compiled into sections, grid maps and a 3D Voxel model. Inversion sections were gridded using the Kriging method at a cell size of 25 metres. Readings are statistically averaged based upon adjacent points to produce an associated value for each cell. Geofisica TMC provide high confidence in readings to a depth of 1,500 metres and readings to 2,500 metres in some locations are also considered valid.

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Figure 2: Hybrid CSAMT geophysical survey data for 3900m elevation and stations on satellite imagery.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2661/109792_6edd09f9d443a839_002full.jpg

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Figure 3: (Left) Hybrid CSAMT geophysical survey data for line T3600. (Right) Hybrid CSAMT geophysical survey data for line L600. Refer to Figure 2 for line locations.

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/2661/109792_6edd09f9d443a839_003full.jpg

Near Term Forward Strategy

The Company is expediting the expansion of the Hybrid CSAMT survey to cover the entire permitted area, which is expected to take a month to complete. Drilling continues on the northern part of the Montaña de Cobre zone where grid soils defined a large copper in soil anomaly that has never been drill tested. After drilling is completed at the Montaña de Cobre zone, the rig will be moved to the Cresta Verde zone to test a large resistive feature proximal to the massive sulphides and mineralized skarn intersected in drill hole JAS4350-02.

The larger rig capable of testing for stacked skarns and the potential porphyry system to depth is scheduled to arrive shortly. This rig will test multiple porphyry targets identified by the Hybrid CSAMT survey at both the Montaña de Cobre and the Cresta Verde zones, including sub-vertical resistive features which represent high potential targets for sizeable epithermal gold-copper systems.

For additional information, contact:

Kevin Tomlinson
President & CEO
ktomlinson@c3metals.com

Alec Rowlands
Vice President, Investor Relations
+1 416 572 2512
arowlands@c3metals.com

ABOUT C3 Metals Inc.

C3 Metals Inc. 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. The Company's flagship project is the 57km2 Jasperoide high-grade copper-gold skarn and porphyry system located in the prolific Andahuaylas-Yauri Porphyry-Skarn belt of Southern Peru. Mineralization at Jasperoide is hosted in a similar geological setting to the nearby major mining operations at Las Bambas (MMG), Constancia (Hudbay) and Antapaccay (Glencore). C3 Metals also holds a 100% interest in five licenses covering 207km2 of highly prospective copper-gold terrain in Jamaica and an interest in two porphyry copper-gold properties within the Cascade Magmatic Arc in southwestern British Columbia: a 100% ownership in the Mackenzie project covering 125 km2 and a 2% royalty in Tocvan's Rogers Creek project.

Related Link: www.c3metals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

QP Statement

Stephen Hughes, P.Geo. is Vice President Exploration and a Director for C3 Metals and is a Qualified Person as defined by National Instrument 43-101. Mr. Hughes has reviewed the technical information in this news release and approves the written disclosure contained herein.

COVID-19 Protocols

The Company continues to implement its COVID-19 safety protocols at site to ensure the safety of employees and the communities surrounding the Jasperoide project area.

Caution Regarding Forward Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the exploration operations of the Company and the timing which could be affected by the current global COVID-19 pandemic. Those assumptions and factors are based on information currently available to the Company. Although such statements are based on reasonable assumptions of the Company's management, there can be no assurance that any conclusions or forecasts will prove to be accurate.

While the Company considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral prices and the worldwide demand for and supply of minerals, risks related to increased competition and current global financial conditions and the COVID-19 pandemic, access and supply risks, reliance on key personnel, operational risks, and regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks.

The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

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CCCM:CA
C3 Metals

C3 Metals

Overview

Copper is now referred to as “the new oil” and the “metal of the future” because its durability, recyclability and superior conductivity make it a valuable resource as the world transitions towards sustainability. Electric vehicles (EVs) contribute to a more sustainable future and copper is a major component in the production and use of green mobility. In the US alone, 7 million EVs will be required by 2025. As the world travels the road to sustainable energy, the demand for copper increases.

Copper prices surged in late 2020, which reached US$6,800 per MT, the best rate since June 2018. The trend has continued into 2021, with prices rising 11 percent in Q1, in line with commodities surging across the board.

C3 Metals Inc. (TSXV:CCCM,OTCQB: CUAUF) is an ambitious exploration company focused on creating shareholder wealth through the identification, acquisition, and exploration of large-scale copper-gold exploration opportunities in mining-friendly jurisdictions like Peru, which is recognized as the second-largest copper exporter in the world.

C3’s most exciting venture is their acquisition of the Jasperoide project, covering 57 square meters in the heart of ‘elephant country’ in Southern Peru. This project is located just 50km from notable copper-gold deposits like Las Bambas (1.2 BT at 0.61 percent Cu), Constancia (534 MT at 0.31 percent Cu) and Haquira (569 MT at 0.56 Cu). Additionally, past exploration results have revealed that high-grade mineralization exists at the surface, containing 14g/t gold and 18.5 percent copper in rock chips.

Preliminary drilling on the Jasperoide project has already provided good news for the company. According to a May 2021 press release, “Results from seven holes on the first drill section intersected broad zones of high-grade copper-gold mineralization within a larger low-moderate grade envelope. The drill program will now proceed to its planned 10,000m looking to expand the near-surface copper-gold footprint.”

Another advantage of the Jasperoide project is the fact that the initial infrastructure is already in place. This should simplify the logistical processes required to ramp up future production. In addition to Jasperoide, the company has 100 percent control over five mineral exploration licenses covering 207 square kilometers of highly prospective copper-gold terrain in Jamaica.

C3 Metals also operates in Jamaica, a country that is recognized as a diverse mining region that boasts unique mineralogy. Historically, Jamaica was best known as a producer of bauxite, but more recently, has seen the discovery of gold and copper porphyry occurrences. C3 Metals’ early entry into Jamaica means it should benefit from first-mover advantage and be best positioned to capitalize on these opportunities.

One of the company’s two BC copper – gold projects is under JV to Tocvan Ventures (TOC:CSE) who has the ability to earn 80% by spending on exploration and issuing shares. The other project in BC – Mackenzie – is currently available for option or sale.

C3 Metals’ management team has a proven track record of returning value to shareholders. Management brings decades of experience in mineral exploration, resource development and project management, providing the needed industry expertise to oversee complex mining projects.

C3 Metals’ Company Highlights

  • C3 Metals is an ambitious exploration company focused on creating shareholder wealth through the identification, acquisition, and exploration of large-scale copper-gold exploration opportunities in mining-friendly jurisdictions.
  • The company’s flagship project is the acquisition of the Jasperoide project, covering 57 square meters in the heart of ‘elephant country’ in Southern Peru.
  • Preliminary drilling on the Jasperoide project has shown high-grade gold-copper deposits, and the company will move forward with drilling to 10,000 m.
  • The company also has 100 percent control over five mineral exploration licenses covering 207 square kilometers of highly prospective copper-gold terrain in Jamaica.
  • CCCM’s 52-week performance is +230 percent, and the recent confirmation of high-grade mineral deposits in their flagship project means that the strong performance can be expected to continue into the future.
  • C3’s management team has decades of experience in mineral exploration, resource development, and project management. This lends C3 expertise and understanding of the industry which they have leveraged for strategic positioning in Peru and Jamaica.
  • C3 acquired 100 percent of Hochschild Mining PLC’s interest in the Company’s flagship Jasperoide Copper-Gold Project1, Peru held by Compañia Minera Ares S.A.C., a wholly owned subsidiary of Hochschild (the “Acquisition”).

C3 Metals’ Key Projects

Jasperoide Project

C3’s flagship project is the 57 square kilometer Jasperoide project located in Southern Peru.

Considerable upside potential at Jasperoide lies in the interpreted “STACKED” skarn system with well-developed mineralogic zonation which shows garnet, diopside skarn and magnetite skarn. There is a drill-defined near-surface oxide copper zone, deeper porphyry-style mineralization and intermediate sulphidation vein overprinting. Given the large volume of skarn mineralization seen at Jasperoide, the potential for a very large copper-gold deposit similar in scale to neighboring mines is very high.

Access is by primary and secondary roads from the regional capital of Cusco. The average elevation at the Jasperoide site is 4,300m, located on a gently rolling plateau. Previous exploration has identified copper and gold mineralization in a magnetite skarn with a classic hydrothermal alteration signature of an underlying copper porphyry system.

Mineral Exploration Licenses in Jamaica

C3 Metals Inc. controls 100 percent of five mineral exploration licenses covering 207 square kilometers of highly prospective copper-gold terrain in Jamaica.

Excellent potential at BGP (Bella’s Gate Project) exists for economically viable copper-gold deposits, with porphyry, epithermal, skarn, oxide and copper gold (IOCG) type targets.

The company has identified seven porphyry systems at the Bellas Gate Project where recent drilling has discovered a new zone with the initial drill hole intersecting 339m of 0.34 percent CuEq, including 10m of 1.79 percent CuEq.

New mineral exploration and development is welcome and encouraged by the Jamaican Government. The country has a long history of mining, beginning with the Spanish in the 16th Century, continuing with the British in the 19th Century, and today the modern bauxite industry is still thriving.

Mineral extraction in Jamaica is a very large contributor to the country’s GDP. British-based law, Canadian banking institutions, good infrastructure, and ready access to deep water shipping ports all contribute to a beneficial mining environment.

C3 Metals’ Management Team

Kevin Tomlinson – President & CEO

Kevin Tomlinson is a Canadian/Australian Structural Geologist and Investment Banker with over 35 years of experience in the exploration, development and financing of mining projects globally, and particularly in the North American, Australasian and European capital markets. Kevin’s diverse career commenced with 15 years in technical and senior exploration management roles predominantly at Plutonic Resources followed by several years as the Managing Director and CEO of ASX listed junior Austminex, and as Head of Research for Hartleys stockbroking in Australia.

For the past 20 years, Mr. Tomlinson has been an effective Resources Investment Banker, M&A advisor and Company Director for some of the most successful junior exploration and development companies globally including Centamin Plc, Orbis Gold, Medusa Mining, Cardinal Resources and Bellevue Gold.

John McNeice, CA, CPA – Chief Financial Officer

John McNeice is a Chartered Professional Accountant registered in Ontario, Canada. Mr. McNeice provides financial consulting and chief financial officer services to emerging private and junior public companies. Presently Mr. McNeice is also CFO of Gold79 Mines Ltd. (TSX-V: AUU) and Northern Graphite Corp. (TSX-V: NGC) where he is responsible for financial and regulatory reporting as well as day-to-day financial management.

From September 2005 to May 2007, Mr. McNeice was Chief Financial Officer of Ur-Energy Inc. (TSX: URE), a uranium exploration and development company. He was a key member of the management team completing the initial public offering on the Toronto Stock Exchange. During Mr. McNeice’s tenure, Ur-Energy raised an aggregate of $150 million in a series of private placements, the IPO and several secondary financings which funded the development and eventual production of uranium at the Lost Creek Project in Wyoming, USA.

Stephen Hughes – VP Exploration

Mr. Hughes is an economic geologist with over 20 years of technical and management experience covering exploration, development and mine geology. Specializing in porphyry copper-gold, skarn and epithermal systems has led to the discovery-delineation and development of more than 2 billion tonnes of copper-gold resources in the Asia-Pacific region since 1999. Steve’s experience includes 12 years with PT Freeport Indonesia at the giant Grasberg mine, both in the open pit and as manager of the underground mine geology and exploration groups and 14 years as Exploration Manager – Indonesia for Oxiana Limited and VP – Exploration for Tigers Realm/Asiamet Resources where his roles have focused on managing the acquisition, exploration and development of Company making Cu-Au opportunities.

Recent successes include the acquisition and development of the Beutong porphyry Cu-Au deposit, as well as the discovery and development of the BKM copper and BKZ polymetallic deposits in Indonesia, all of which are currently being advanced through resource delineation and/or feasibility studies.

Alec Rowlands – VP Investor Relations

Mr. Rowlands has over 25 years of experience in mining finance. He is the former managing director of First Marathon Securities (London) and former Head of Sales for Gordon Capital (NYC). Since 1999, Mr. Rowlands has held several senior finance positions, including with Yorkton Securities, Westwind Partners, Jennings Capital and PowerOne Capital Markets Ltd.

Mr. Rowlands has been an active investor and founding shareholder in several mining ventures, notably Auryx Gold, which was acquired by B2Gold for its Otjikoto project in Namibia in 2011. He is currently Vice-President, Investor Relations and Corporate Development for Cardinal Resources Inc. (TSX: CDV).

Jeffrey Ackert, BSc. – VP Business Development

Mr. Ackert began his career as a regional geologist with St. Joe Minerals, Bond Gold Canada and LAC Minerals in the 1980s. In 1990 he became a mine geologist at LAC Minerals’ Golden Patricia Mine (Barrick Gold Corp after 1994) where he specialized in production and exploration. In 1996 he was appointed VP Exploration for Orezone Resources Inc. focusing on West Africa and was subsequently named VP Technical Services in 2005.

During his time at Orezone, its market cap increased from $2M to over $300M due to resource development of various projects in West Africa including Essakane, Sega and Bondigui in Burkina Faso. Since 2007, Mr. Ackert has been the sole principal of JSA International Geoconsulting and since early 2008 a Director of Advance Gold Corp.

Chris Irwin, B.A., LL.B – Corporate Secretary

Mr. Irwin is a principal of Irwin Lowy LLP, a Toronto-based law firm specializing in Corporate and Securities Law. Between 2004 and 2006, he was associated with Wildeboer Dellelce LLP. From 1998 to 2004, he was associated initially with Boyle & Company and subsequently with Power Budd LLP. Presently Mr. Irwin is a director and/or officer of several public companies. Mr. Irwin was Corporate Secretary for Kinbauri Gold Corp. from 2004-2009.

Mr. Irwin received his Bachelor of Arts from Bishop’s University in Lennoxville, Quebec in 1990 and his Bachelor of Laws from the University of New Brunswick in Fredericton, New Brunswick in 1994. He has been a member of the Law Society of Upper Canada since 1996.

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/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

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Cyprium Metals Ltd Further Significant Copper Intersections from Nifty West Drilling Program

Perth, Australia (ABN Newswire) - Cyprium Metals Limited (ASX:CYM) is pleased to announce further assay results from 28 RC holes (for 7,504m) of the Nifty West drilling program. The drilling programme targeted a lightly drilled area, up-plunge of the former underground mine in the keel area of the Nifty Syncline, below the western end of the Nifty open pit (refer to Figure 1*).

Managing Director Barry Cahill commented:

"We have been very pleased with the drilling results received to date. These assay results continue to confirm the presence of a substantial zone of copper mineralisation which is up-plunge of the former underground mine. We continue to be excited about the receipt of the results of balance of the outstanding assays. It is not often that you have the privilege of getting these widths of mineralisation beneath an existing shallow open pit. The assays will be included in an updated mineral resource estimate that we look forward to releasing during the first half of this year."

Hole locations from the current program are shown in Figure 2* with the significant intersections summarised in Table 2*.

Discussion of results

Further wide intervals of low to medium-grade copper mineralisation were encountered on four section lines (101,560E - Figure 3*, 101,600E- Figure 4*, 101,640E- Figure 5* and 101,680E- Figure 6*) to the immediate east of lines 101,480E and 101,520E, where significant intersection were reported from the first batch of assay results announced on 2 November 2021. The latest intersections provide further confirmation of the presence of significant copper mineralisation associated with the lightly tested Nifty Syncline keel zone up-plunge of the former underground mine.

The remaining 25 holes drilled in the west pit area have been designed to intersect potential oxide, transition and sulphide ore, as infill and extension along the keel and the south limb of the Nifty Syncline.

Further drilling will be conducted in the south-east and east of the existing pit, which potentially will add the existing 732,000 tonnes of contained copper in the mineral resource at Nifty (refer to Figure 7*).

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/6EHZ428V



About Cyprium Metals Ltd:

Cyprium Metals Limited (ASX:CYM) is poised to grow to a mid-tier mining business and manage a portfolio of Australian copper projects to deliver vital natural resources, strong shareholder returns and sustainable value for our stakeholders. We pursue this aim, in genuine partnerships with employees, customers, shareholders, local communities and other stakeholders, which is based on integrity, co-operation, transparency and mutual value creation.



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Cyprium Metals Ltd

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