C3 Metals Intersects 64.9 Metres at 3.45% Copper Equivalent, Including 23.3 Metres at 6.64% Copper Equivalent at its Khaleesi Project, Peru - Highest Grade Copper and Gold Mineralization Intersected to Date at Khaleesi

C3 Metals reports 64.9m at 2.53% Cu and 3.45% CuEq at Khaleesi, Peru.

What the company is saying

C3 Metals Inc. is highlighting the highest-grade copper-gold-silver mineralization intersected to date at its 100%-owned Khaleesi project in southern Peru, emphasizing a 64.9m interval at 2.53% copper, 0.87 g/t gold, 11.6 g/t silver, and 6 ppm molybdenum (3.45% CuEq) in drill hole KHZ5790-005. The company frames this as a major technical milestone, with President and CEO Dan Symons stating these are the highest copper grades encountered so far at Khaleesi and indicating strong potential for significant higher-grade mineralization. The announcement details ongoing step-out drilling to test the geometry and continuity of this zone, with additional holes in progress and pending assays. The company also notes recent completion of drone magnetic and gravity surveys over 1,500 hectares and a 3DIP survey expected to finish in November 2026. C3 Metals contextualizes Khaleesi within its broader Peruvian and Jamaican exploration portfolio, referencing resource figures at Jasperoide and partnership structures with Freeport-McMoRan and Geophsyx Jamaica Ltd. The tone is confident and data-driven, focusing on technical results and near-term exploration steps.

What the data suggests

The disclosed data shows a significant high-grade interval in drill hole KHZ5790-005: 64.9m at 2.53% copper, 0.87 g/t gold, 11.6 g/t silver, and 6 ppm molybdenum, corresponding to 3.45% copper equivalent, with a higher-grade subinterval of 23.3m at 4.75% copper, 1.84 g/t gold, 20.4 g/t silver, and 5 ppm molybdenum (6.64% CuEq). Additional short intervals include up to 8.80% copper over 2.0m. The company has completed 16,830m of drilling in 38 holes, indicating a substantial exploration effort. Geophysical work covers 1,500 hectares, and a 3DIP survey is underway. All intervals are downhole lengths; true thickness is not yet determined. The copper equivalent calculation uses trailing three-year 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. No resource estimate for Khaleesi is disclosed, but the nearby Jasperoide project has a Measured and Indicated Resource of 51.9Mt at 0.50% copper and 0.20 g/t gold (569.1M lbs Cu, 326,800 oz Au). In Jamaica, Freeport-McMoRan can earn up to 75% of 13,020 hectares by funding up to US$75 million. The technical data is detailed and supports the claim of a high-grade discovery, but economic significance will depend on further drilling and eventual resource estimation.

Analysis

The announcement is a detailed exploration-stage update, providing specific and credible technical data on drilling results at the Khaleesi project in Peru. The majority of claims are realised and supported by explicit assay intervals, metres drilled, and resource figures. Forward-looking statements are present but limited, mainly describing ongoing and planned step-out drilling and geophysical surveys, which are standard for this stage and not exaggerated. The tone is positive but proportionate to the evidence, with no overstatement of near-term economic impact or production. The only capital intensity signal is the Freeport-McMoRan option to fund up to US$75 million in Jamaica, which is a future commitment and not yet realised. No profitability, revenue, or cash flow data is disclosed, but this is normal for a junior explorer and does not detract from the technical signal. Overall, the narrative is factual and measured, with minimal hype relative to the disclosed progress.

Risk flags

• ●Resource and economic uncertainty is high, as Khaleesi lacks a mineral resource estimate and all reported intervals are downhole lengths, not true thickness; this limits the ability to assess the scale and continuity of mineralization.
• ●Assay results for additional holes (KHZ5790-006 and KHZ5790-007) are pending, and the continuity of high-grade mineralization is unproven; follow-up drilling may not replicate these grades or widths.
• ●The copper equivalent calculation assumes 80% metallurgical recoveries for all metals, but no metallurgical test work has been conducted at Khaleesi; actual recoveries could be materially lower, impacting project economics.
• ●The company is reliant on ongoing exploration funding and has disclosed a major future capital commitment in Jamaica (up to US$75 million by Freeport-McMoRan), but realization of this funding is contingent on partner decisions and exploration success.
• ●Geological interpretation is preliminary, with controls on high-grade mineralization (such as fold hinges and carbonate horizons) not yet confirmed; this adds uncertainty to targeting and resource potential.

Bottom line

C3 Metals has delivered its strongest technical results yet from the Khaleesi project, with a standout 64.9m interval at 2.53% copper and 3.45% CuEq, including a high-grade core of 23.3m at 4.75% copper and 6.64% CuEq. The data is robust for an early-stage explorer, with detailed assays and supporting geophysical work, but the project's economic potential remains untested due to the absence of a resource estimate and metallurgical data. The company's broader portfolio includes a defined resource at Jasperoide and significant land positions in Peru and Jamaica, with Freeport-McMoRan's US$75 million earn-in option providing future funding potential. Near-term news flow will be driven by additional drill and geophysical results, but any investment case hinges on demonstrating scale, continuity, and recoverability of high-grade zones. The most important takeaway is that Khaleesi is emerging as a technically promising but still high-risk exploration play, with key de-risking milestones yet to come.

Announcement summary

(TSXV: CCCM) (OTCQB: CUAUF) C3 Metals Inc. announced the highest-grade copper-gold-silver mineralization intersected to date at its 100%-owned Khaleesi copper project in southern Peru. Drill hole KHZ5790-005 intersected 64.9 metres at 2.53% copper, 0.87 g/t gold, 11.6 g/t silver, and 6 ppm molybdenum (3.45% CuEq) from approximately 337.6m downhole depth, including a high-grade interval of 23.3m at 4.75% copper, 1.84 g/t gold, 20.4 g/t silver, and 5 ppm molybdenum (6.64% CuEq) from 352.1m. Additional intervals in KHZ5790-005 include 27.0m at 0.22% Cu, 0.021 g/t Au, 0.69 g/t Ag, 4 ppm Mo (0.25% CuEq) from 218.1m; 9.1m at 0.22% Cu, 0.027 g/t Au, 1.21 g/t Ag, 33 ppm Mo (0.27% CuEq) from 300.5m; 17.1m at 0.16% Cu, 0.009 g/t Au, 0.30 g/t Ag, 42 ppm Mo (0.19% CuEq) from 426.3m; and 41.5m at 0.27% Cu, 0.012 g/t Au, 0.51 g/t Ag, 160 ppm Mo (0.36% CuEq) from 507.5m. Notable short intervals include 1.5m at 5.39% Cu, 2.85 g/t Au, 18.7 g/t Ag at 345.5m; 1.9m at 6.77% Cu, 1.79 g/t Au, 34.5 g/t Ag at 352.8m; 2.0m at 8.80% Cu, 3.09 g/t Au, 31.9 g/t Ag at 361.2m; 2.0m at 4.22% Cu, 1.37 g/t Au, 18.7 g/t Ag at 372.6m; 1.5m at 1.71% Cu, 0.17 g/t Au, 11.4 g/t Ag at 378.10m; and 1.8m at 3.68% Cu, 1.71 g/t Au, 15.4 g/t Ag at 395.2m. Approximately 16,830m of drilling has been completed in 38 holes from 17 drill platforms at Khaleesi, with one additional hole in progress. Drone magnetic and gravity surveys were recently completed over 1,500 hectares, and a 3DIP survey commenced in late September and is expected to be completed during November 2026. The company is prioritizing 50m to 100m step-out holes to test the geometry, continuity, and potential extent of the high-grade mineralization. The Khaleesi project is located in the Andahuaylas-Yauri Belt in southeastern Peru, 8km west of the Jasperoide Project, where C3 Metals confirmed 13 skarn prospects along a 28km iron-skarn belt. At Jasperoide, a near-surface 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 has been reported. C3 Metals holds approximately 31,000 hectares in southern Peru containing the Jasperoide and Khaleesi projects. In Jamaica, the company holds a 100% interest in 17,855 hectares of exploration licenses, with Freeport-McMoRan Exploration Corporation (NYSE: FCX) having the option on 13,020 hectares to earn up to a 75% interest by funding up to US$75 million of exploration and project-related expenditures. C3 Metals also holds a 50% interest in 9,870 hectares in a joint venture with Geophsyx Jamaica Ltd. Barrick Mining Corp. announced on May 1, 2024, an earn-in agreement with Geophysx Jamaica Ltd. on approximately 400,000 hectares of exploration licenses, several of which surround C3 Metals' mineral concessions. Copper Equivalent (CuEq) for drill intersections is calculated based on three-year trailing average prices: US$ 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.

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