C3 Metals expands drilling at Khaleesi project to 15,000 metres in second phase
Key Facts
C3 Metals is continuing its drilling program at the Khaleesi project in southern Peru under a second phase designed to reach 15,000 metres, aiming to follow up on first-phase results, expand skarn discoveries and test a geophysical anomaly northeast of the area. The plan moves the project into another phase of target testing after the company said copper was present in all first-phase holes. The company’s October 27 announcement included results from two additional holes, which it said extended mineralization 200 metres east along section KHZ5950. This reflects continuing exploration in more than one direction, while the second phase remains an exploratory drilling program. Work is also expected to target the northeastern anomaly identified by expanded geophysical surveys.
In its October 27 results, the company reported a 70.9-metre intercept in hole KHZ5960-004 within magnetite and pyroxene skarn with garnet. The average grade was 0.62% copper equivalent, including 0.53% copper, according to the company’s statement. It also reported a near-surface interval of 101.9 metres in mineralized gabbro diorite, averaging 0.38% copper equivalent and beginning at a downhole depth of 28.4 metres. In hole KHZ5960-005, the company recorded a near-surface interval of 81.3 metres at 0.33% copper equivalent. It said, however, that the latter hole did not encounter magnetite skarn at depth, illustrating the difference in mineralization observed in the two holes.
By its October 27 announcement, C3 Metals said it had completed about 16,830 metres of drilling in 38 holes, with one additional hole still underway. That total compares with the first-phase program, which covered 12 holes and about 6,300 metres and recorded copper in all 12 holes, according to the project page. The second phase aims to increase total drilling to follow up on first-phase results and expand skarn discoveries. The company also said magnetic and gravity surveys had been completed over an area of 1,500 hectares, while a 3DIP survey was underway to develop the geological model and rank drilling targets. The surveys are part of ongoing work to identify targets for drilling.
The Khaleesi project is located in the Andahuaylas-Yauri belt in southern Peru, about 8 kilometres west of the company’s Jasperoide project. C3 Metals describes it as an emerging skarn copper discovery and a potential porphyry deposit. In an earlier statement on September results, the company said confirmed mineralization reached a vertical depth of about 500 metres and extended more than 500 metres east and west. It added that mineralization remained open to the north, east and west, according to the statement. Chief Executive Dan Symons said the grades of the broad intercepts were "largely consistent with the mineral reserve grades" at nearby Constancia mine, operated by Hudbay Minerals.
The company expected to receive an amendment to its environmental impact assessment during the fourth quarter of 2026. It said the amendment would expand the area covered by its drilling permit and allow additional targets to be tested. This is proceeding alongside the second-phase program, which aims to follow up on first-phase results, expand skarn discoveries and test the northeastern anomaly. The available information did not include a reported result for the additional hole that was underway on October 27. Nor did it confirm receipt of the assessment amendment, which the company said was expected during the period.