C3 Metals "cashed up and ready to go" after $8M placing
December 05, 2023 at 11:46 pm IST
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C3 Metals Inc (TSX-V:CCCM, OTC:CARCF) CEO Dan Symons speaks to Thomas Warner from Proactive about the copper-gold explorer's company's progress at the Bellas Gate Project in Jamaica.
Symons explains that C3 Metals is currently operating two drill rigs, including a man-portable rig purchased from Indonesia, which has impressively exceeded its depth capability by nearly 50%. Additionally, they have a larger capacity contract rig for deeper drilling.
The company recently announced significant findings from the Bellas Gate project in Jamaica, particularly at the Porphyry deposit named Provost. They discovered a 281-meter section with 0.5% copper equivalent, with the grade improving at greater depths. The last 62 meters showed a 0.77% copper equivalent, marking a 25% increase.
This exploration revealed different layers of the Porphyry system, including a transition from a pyrite shell to a chalcopyrite zone, and finally to a bornite zone, which is particularly notable for its high temperature and superior copper and gold grades.
C3 Metals plans to continue drilling with their larger rig to explore deeper into the system, aiming to uncover higher-grade cores. The company also successfully raised funds, securing $8mln Canadian despite a challenging market for junior explorers.
This financial boost aims to support an ambitious drilling program of 20,000 meters in 2024, expanding from the 8,500 meters drilled this year.
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Proactive USA
+1 347-449-0879
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C3 Metals Inc. is a Canada-based junior minerals exploration company focused on creating substantive value through the discovery and development of copper and gold deposits. The Company holds the 24,000 hectare Jasperoide project in the prolific high-grade Andahuaylas-Yauri Porphyry-Skarn belt of Southern Peru. The Company also holds a 100% interest in five licenses covering 20,700 hectares (ha) of highly prospective copper-gold terrain of Jamaica. The Company, through its subsidiary, Rodinia Jamaica Limited (RJL), holds title to four Special Exclusive Prospecting Licenses (SEPLs) in Jamaica, namely Bellas Gate, Arthurs Seat, Main Ridge and Hungry Gully. Bellas Gate is located within the Cretaceous Central Inlier of Jamaica. The Main Ridge Project is located along the Crawle River Fault Zone. The Company's other subsidiaries include Carube Resources Inc., Carube Resources Jamaica Limited, Latin America Resource Group Limited, C3 Metals Peru S.A.C and Molino Azul S.A.C.