C3 Metals expands copper anomaly at Khaleesi project

C3 Metals Inc (TSX-V:CCCM, OTC:CARCF) earlier this week provided an update on its Khaleesi project in Peru, highlighting strong geochemical results and early geophysical indicators of a large-scale copper system.

The company said it secured a community agreement in August, which allowed it to conduct advanced surface exploration. Through a grid soil sampling program, it identified an extensive alteration zone covering 1.5 kilometers by 1 kilometer. Soil samples returned copper values of up to 950 ppm, significantly above the 300 ppm threshold considered noteworthy for early-stage exploration.

C3 Metals told investors that while drilling is required to confirm economic viability, early tonnage estimates suggest potential between 500 million and 1 billion tons. The company pointed to similar large-scale deposits in the region, such as MMG’s Las Bambas and Hudbay’s Constancia, which exceed 500 million tons.

Proactive: Welcome back inside our Proactive newsroom. Joining me now is Dan Symons, CEO of C3 Metals. Dan, it's great to see you again. How are you?

Dan Symons: I'm doing well, Steve. Thanks for having me.

More great news out for the company today. This update relates to your Khaleesi project in Peru. Last time, you mentioned identifying an anomaly, and now you've expanded on that. Can you tell us what's happening?

Yes. In August, we secured a community agreement with the local Indigenous community, allowing us to conduct more advanced surface exploration. We identified an alteration zone spanning 1.5 kilometers by 1 kilometer, with some outcropping skarn mineralization. This mineralization dips under an area of glacial till and then re-emerges on the other side. In the center, it's concealed and masked.

We then conducted a 50-meter spaced grid soil sampling program to identify where the best copper grades are. The results were very positive, with high-grade copper values over a 1,900-meter by 650-meter area. The copper values in soil samples reached up to 950 ppm, with half of the area showing grades above 600 ppm. For context, we start getting excited at anything over 300 ppm.

So while you expected positive results, was it the scale of the anomaly and the high ppm readings that stood out?

Yes, it’s the overall scale of it. If we run a high-level estimate on tonnage potential—though we won’t know for sure until drilling—we could be looking at anywhere between 500 million and 1 billion tons of rock. The key question is grade. When we compare this with major deposits in the region, like MMG’s Las Bambas, Hudbay’s Constancia, and Glencore’s operations, those are all over 500 million tons. Las Bambas, for example, is at 1.2 billion tons. So, we are in elephant country here, and all indicators are pointing to a system of considerable scale.

You’re also conducting geophysical work right now. Can you update us on that?

Yes, we're doing ground geophysics. We've completed two of three planned surveys and are finishing the last one now. We expect to have results in March. However, even in today's press release, we reported that a blind area beneath the glacial till is lighting up with anomalies in the preliminary data.

This suggests that the high-grade copper zones we see on either side of this till are part of a larger system. Essentially, the glacier that passed through deposited mud, debris, and rocks, masking the underlying mineralization. But the geophysics indicate a significant anomaly connecting this whole zone.

Quotes have been lightly edited for style and clarity