C3 Metals has announced that its 2022 explora-tion programme at the miner’s Jasperoide project in Peru is well un-derway, and a larger drill rig is expected on site early next month to replace a rig with a smaller capacity.
“A Hybrid Controlled Source Audio-Magnetotelluric … survey test was completed over the Montaña de Cobre and the Cresta Verde zones, which has identified probable feeder structures linked to a po-tential causative copper-gold porphyry system at depth,” the com-pany said in a statement. “The larger drill rig has the depth capacity to test these targets. The existing rig will continue drilling on the Mon-taña de Cobre zone to further extend and evaluate the oxide copper-gold deposit delineated to date until it is changed out.”
Kevin Tomlinson, the president and CEO of C3 Metals, said the com-pany will use its oversubscribed financing of more than US$19 million to finance the deposit’s expansion, but also to drill for “a potential billion ton porphyry copper deposit.”