C3 Metals Intersects 101.9 Metres at 0.38% and 70.9 Metres at 0.62% Copper Equivalent at its Khaleesi Project, Peru - Mineralization Extended East

C3 Metals extends Khaleesi copper mineralization with strong new drill results in Peru.

What the company is saying

C3 Metals highlights two new drill holes at its 100%-owned Khaleesi copper project in southern Peru, emphasizing the extension of mineralization by 200 metres eastward and the intersection of broad, near-surface copper zones. The company details specific assay intervals, such as 101.9m at 0.31% copper and 70.9m at 0.53% copper, and notes that mineralization remains open in multiple directions. Management, led by President and CEO Dan Symons, frames the narrative around systematic exploration progress, including the completion of magnetic and gravity surveys over 1,500 hectares and a 3DIP survey now 65% complete. The technical disclosure is comprehensive, with copper equivalent calculations based on three-year trailing prices (US$4.18/lb Cu, US$2,600/oz Au, US$30.54/oz Ag, US$21.46/lb Mo) and 80% assumed recoveries. The tone is confident but measured, focusing on the scale of the mineralized system and the ongoing refinement of geological models. The announcement also situates Khaleesi within a broader portfolio, referencing the Jasperoide project's 51.9Mt resource and strategic partnerships in Jamaica with Freeport-McMoRan and Geophysx Jamaica Ltd.

What the data suggests

The disclosed drill results from holes KHZ5960-004 and KHZ5960-005 confirm broad, near-surface copper mineralization, with intervals such as 101.9m at 0.31% Cu and 70.9m at 0.53% Cu, and copper equivalent grades up to 0.63%. These grades are consistent with early-stage porphyry and skarn systems and suggest a potentially scalable mineralized zone. The total drilling at Khaleesi now stands at approximately 16,830m across 38 holes, with one more in progress, indicating sustained exploration activity. The geophysical program has expanded survey coverage by over 65% to 1,500 hectares, and the 3DIP survey is 65% complete, targeting Q4 2026 for full results. All copper equivalent calculations are transparent, using US$4.18/lb Cu, US$2,600/oz Au, US$30.54/oz Ag, and US$21.46/lb Mo with 80% recoveries. The company provides clear context with its Jasperoide resource (51.9Mt at 0.5% Cu, 0.2 g/t Au, 326,800 oz Au) and outlines major land positions and partnerships in Peru and Jamaica. No resource estimate or economic study is yet available for Khaleesi, and all intervals are reported as downhole lengths, not true thickness. The technical data is robust for this stage, but economic potential remains unquantified.

Analysis

The announcement provides detailed and specific technical results from two new drill holes at the Khaleesi copper project, including precise assay intervals and grades, as well as updates on the completion of geophysical surveys and ongoing exploration activities. The majority of claims are realised and supported by disclosed data, with only a small portion of the language being forward-looking (e.g., completion of the 3DIP survey in Q4 2026 and future reporting of results). There is no evidence of exaggerated or promotional language; the tone is positive but proportionate to the technical progress. No large capital outlay is disclosed as imminent, and the benefits of the exploration program are inherently long-term, which is normal for this stage. The release does not overstate the significance of the results or make unsupported claims about future production or economic outcomes. The gap between narrative and evidence is minimal, and the technical data is transparent and credible.

Risk flags

• ●Resource and economic uncertainty remains high, as Khaleesi has not yet delivered a maiden resource estimate or any economic study. Without these, the scale and viability of the project are unproven, and investors cannot assess potential returns.
• ●All reported mineralized intervals are downhole lengths, not true thicknesses, and true widths have not yet been determined. This introduces uncertainty about the actual size and geometry of the mineralized zones.
• ●The project is still in early-stage exploration, with no metallurgical test work completed and copper equivalent grades based on assumed 80% recoveries. Actual recoveries could differ materially, impacting future project economics.
• ●Execution risk is present as further drilling, geophysical interpretation, and eventual resource modeling are required before any development decision. Delays or negative results in these next steps could materially affect project value.
• ●The company is reliant on ongoing exploration funding, and while partnerships in Jamaica (including a US$75 million earn-in option by Freeport-McMoRan) provide some financial flexibility, no such funding arrangement is disclosed for Khaleesi in Peru.

Bottom line

C3 Metals' latest drill results at Khaleesi demonstrate broad, near-surface copper mineralization and extend the known system by 200 metres, supporting the project's potential scale. The technical data is detailed and credible, with copper equivalent grades up to 0.63% and comprehensive geophysical work underway. However, Khaleesi remains at an early exploration stage, with no resource estimate or economic study, and all mineralized intervals are reported as downhole lengths. The timeline to value realization is long, as further drilling, survey completion, and eventual resource modeling are needed before any development decision. Investors should focus on upcoming geophysical results, additional drilling, and any move toward a maiden resource estimate as the next material catalysts. The key takeaway is that Khaleesi is emerging as a promising target, but its economic viability is still unproven and will require significant further work.

Announcement summary

(TSXV: CCCM) (OTCQB: CUAUF) C3 Metals Inc. announced results from two additional drill holes, KHZ5960-004 and KHZ5960-005, at its 100%-owned Khaleesi copper project in southern Peru. Drilling extended mineralization 200 metres eastward along section line KHZ5950. KHZ5960-004 intersected a near-surface 101.9m zone grading 0.31% copper, 0.025 g/t gold, 1.06 g/t silver, and 64 ppm molybdenum (0.38% CuEq) from 28.4m downhole, and a 70.9m interval grading 0.53% copper, 0.036 g/t gold, 0.88 g/t silver, and 112 ppm molybdenum (0.62% CuEq) from 376.6m. KHZ5960-005 intersected an 81.3m near-surface zone grading 0.27% copper, 0.021 g/t gold, 0.84 g/t silver, and 54 ppm molybdenum (0.33% CuEq) from 36.7m. Additional intervals from both holes are detailed in Table 1, with copper grades ranging from 0.19% to 0.53% and copper equivalent grades from 0.23% to 0.63%. Mineralization remains open in multiple directions. Approximately 16,830m of drilling has been completed in 38 holes from 17 drill platforms, with one hole in progress. The company recently completed magnetic and gravity surveys over 1,500 hectares, expanded by over 65% from 900 hectares, and a 3DIP survey is currently 65% complete and on track for completion in Q4 2026. The copper equivalent (CuEq) calculation uses three-year trailing average prices: US$ 4.18/lb Cu, US$ 2,600/oz Au, US$ 30.54/oz Ag, and US$ 21.46/lb Mo, with 80% metallurgical recoveries assumed for all metals. Drill holes KHZ5960-004 and KHZ5960-005 were 100m eastern step-outs from KHZ5960-001, which previously intersected a 109.0m zone grading 0.29% copper, 0.028 g/t gold, 0.99 g/t silver, and 115 ppm molybdenum (0.39% CuEq) from 45.0m, and a 118.0m zone grading 0.30% copper, 0.024 g/t gold, 0.85 g/t silver, and 75 ppm molybdenum (0.37% CuEq) from 354.9m. The Khaleesi project is located in the Andahuaylas-Yauri Belt in southeastern Peru, 8km west of the Jasperoide Project, where C3 Metals has confirmed 13 skarn prospects along a 28km iron-skarn belt. At Jasperoide, the company has a Measured and Indicated Mineral Resource of 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. C3 Metals holds approximately 31,000 hectares in southern Peru and is also active in Jamaica, holding a 100% interest in 17,855 hectares of exploration licenses, with Freeport-McMoRan Exploration Corporation (NYSE: FCX) having an option on 13,020 hectares to earn up to a 75% interest by funding up to US$75 million in expenditures. The company also holds a 50% interest in 9,870 hectares in a joint venture with Geophysx Jamaica Ltd. Barrick Mining Corp. announced an earn-in agreement with Geophysx Jamaica Ltd. on approximately 400,000 hectares of exploration licenses in Jamaica, several of which surround C3 Metals' concessions. Mining is the second largest industry in Jamaica. Stephen Hughes, P.Geo., Vice President Exploration and Director, is the Qualified Person for the release.

Disagree with this article?