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C3 Metals Wholly Owned Subsidiary, Molino Azul S.A.C., Executes Agreement with Cancahuani Community to Provide Surface Access Rights at Khaleesi Copper-Gold Porphyry-Skarn Project in Peru
AzulAzul(US:AZUL) Newsfileยท2024-08-13 11:00

Core Viewpoint - C3 Metals Inc. has successfully executed a surface access rights agreement with the Cancahuani community for its Khaleesi copper-gold project in Southern Peru, which is crucial for advancing the project's exploration and permitting process [2][3]. Company Overview - C3 Metals Inc. is a mineral exploration company focused on discovering and developing large copper and gold deposits, holding approximately 30,000 hectares in the Andahuaylas-Yauri Porphyry-Skarn belt of Southern Peru [10]. - The company has expanded its mineral concession package from 57 sq. km to 300 sq. km since entering Southern Peru in 2020 through a merger [4]. Project Details - The Khaleesi project is an undrilled copper-gold skarn and porphyry prospect located approximately 38 km east of the Las Bambas mine and 43 km northwest of the Constancia mine [3]. - Initial fieldwork at Khaleesi has identified high-grade copper-gold mineralization over a mapped area of 1.5 km by 1.0 km [3]. - The project is situated in a geologically favorable area, with proximity to major mining operations, enhancing its exploration potential [3][10]. Recent Developments - The surface access agreement is a critical step for obtaining the Declaration of Environmental Impact (DIA) necessary for drilling permits [2][3]. - The company plans to conduct soil geochemical data collection and aggressive surface mapping and rock sampling now that the surface access agreement is in place [8][9]. - Drilling at Khaleesi is anticipated to commence as early as 2025, contingent upon the completion of the permitting process [9]. Future Plans - C3 Metals has identified over 15 skarn and multiple porphyry prospects within its mineral concession package, with Khaleesi being the highest priority due to its high-grade potential [8]. - The company aims to complete detailed mapping and sampling before drilling, leveraging the support of the Cancahuani community to facilitate the permitting process [9].