C3 Metals Reports Its Highest Copper-Gold-Silver Intersection to Date at Khaleesi Project
Key Facts
C3 Metals announced on November 2 its highest copper-gold-silver mineralized intersection to date at the Khaleesi project in southeastern Peru, a new result from its ongoing drilling program. The result follows the company’s October 27 announcement that drilling had extended mineralization 200 meters east along section line KHZ5950. The company said Phase 2 drilling was designed for up to 15,000 meters to follow up on Phase 1 results, expand skarn discoveries and test an anomaly northeast of the site. That figure is the program’s planned upper limit, not a confirmed amount of drilling. Phase 1 included 12 holes totaling approximately 6,300 meters, all of which confirmed copper mineralization, according to the project page.
The result announced on November 2 adds to a drilling record that stood at approximately 16,830 meters across 38 completed holes, with an additional hole in progress at the time, according to the October 27 statement. In its October 27 results, the company said hole KHZ5960-004 recorded a near-surface interval of 101.9 meters at 0.38% copper equivalent, followed by an interval of 70.9 meters at 0.62%. The company linked the two holes reported at the time to a 200-meter eastward extension of mineralization along the same section line. Those results provide context for drilling activity across the area, while the broader plan focuses on following up on discovered mineralization and expanding the skarn. The November 2 announcement also did not establish that the additional hole in progress in October was the hole whose result was later reported.
Confirmed mineralization at Khaleesi extends to an approximate vertical depth of 500 meters and over more than 500 meters in the east-west direction, and remained open to the north, east and west, according to the company’s September statement. The area lies within the Andahuaylas-Yauri belt in southeastern Peru, 8 kilometers west of the company’s Jasperoide project. C3 Metals says Khaleesi combines near-surface copper, gold, silver and molybdenum mineralization in intrusive rocks with garnet-magnetite skarn. This means the exploration program is testing different mineralization styles within the project, according to the company’s description. The new result is part of exploration at a project still at the drilling stage, not a resource estimate or an economic result.
The Phase 2 plan also targets a magnetic and gravity anomaly about 2 kilometers northeast of the main skarn area. The company said geological mapping confirmed extensive magnetite skarn in the area, which it described as an anomaly that may be larger than the primary target. Drilling the target was contingent on obtaining an amendment to the drilling permit; in September, the company expected to receive an environmental impact assessment amendment during the fourth quarter of 2026, expanding the permitted area and allowing additional targets to be tested. That timing was not confirmation that the amendment had been received. In October, the company said the 3DIP survey was expected to be completed during November 2026, while magnetic and gravity survey data were undergoing inversion.
The project lies within a regional area where C3 Metals said it controls approximately 31,000 hectares, and is less than 45 kilometers from the operating Las Bambas and Constancia mines. The company says its copper-equivalent calculation uses average commodity prices during 2023, 2024 and 2025, and assumes 80% metallurgical recovery for all metals. It added that the project has not yet undergone metallurgical testing. This methodology defines how equivalent grades are presented in the drilling results, while Phase 2 remains focused on following up on exploration targets. The next steps announced remain tied to completing the electrical survey and receiving the drilling permit amendment expected during the fourth quarter of 2026.