Toronto, Ontario--(Newsfile Corp. - July 9, 2024) - C3 Metals Inc. (TSXV: CCCM) (OTCQB: CUAUF) ("C3 Metals" or the "Company") is providing an update following hurricane Beryl causing significant damage across Jamaica last week.
The Company is pleased to report that its team on the ground in Jamaica is safe and no injuries have been reported. Overall, the Company's equipment, drill rig, drill core and rock samples are secure with no damage to these items. The Company sustained damage to the roofs of its core logging and core storage facilities, but the structures of these buildings remain intact.
Heavy winds and rainfall have resulted in significant damage to the existing infrastructure of the Company's project areas. There is currently only one access road into the Bellas Gate project area, and the Arthurs Seat and Super Block project areas are currently inaccessible. All project areas are without power due to significant damage of multiple power line polls uprooted during the storm event. Multiple landslides have also been reported, resulting in the roads in which C3 Metals' uses to access various porphyry and epithermal prospects currently being impassible. In addition, prepared drill pad sites and drill access trails have been damaged and will also require repair.
The Company continues to gather information. More time is needed to better understand the full impact of hurricane Beryl and when the Company will regain access and power at all project areas.
Dan Symons, President and CEO, commented: "The safety of our workforce is our number one priority. I'm happy to report that our team is safe and no injuries were reported. Our equipment and drill core are all intact. The biggest impact of hurricane Beryl to our exploration projects is the damage to infrastructure. Currently, the vast majority of roads are inaccessible, and our project areas are without power. It is yet to be determined how long it will take to regain power and infrastructure. We are thankful that our team and equipment are safe, and the damage to the infrastructure of our project areas will be repairable over time."
While power and infrastructure are being restored to the project areas, C3 Metals has shifted its focus from exploration to community assistance. The Company is doing what it can to provide food and water to those most vulnerable to the storm's impacts. The C3 Metals' team is also assisting in clearing landslide debris to open road access and helping local community members repair damaged homes where possible.
Dan Symons continued: "Major storm events can be devasting, and hurricane Beryl's impact will be felt by the local communities closest to our projects for quite some time. It is times like these where it is important to come together as a community, ensure our neighbours have access to food and water, and work together to rebuild homes and critical infrastructure. This will be our team's focus in the near term."
For additional information, contact:
Dan Symons
President and CEO
+1 416 716 6466
dsymons@c3metals.com
ABOUT C3 METALS INC.
C3 Metals Inc. is a mineral exploration company focused on creating substantive value for its shareholders through the discovery and development of large copper and gold deposits. The Company is actively exploring in Jamaica where it has identified 16 porphyry, 40 epithermal and multiple volcanic redbed copper prospects over a 30km strike extent. The Company holds a 100% interest in 17,855 hectares of exploration licenses and a 50% interest in 9,870 hectares in a joint venture with Geophsyx Jamaica Ltd, the largest mineral tenure holder in the country. Barrick Gold Corp. announced on May 1, 2024 that it had entered into an earn-in agreement with Geophysx Jamaica Ltd. on approximately 400,000 hectares of exploration licenses, several of which surround C3 Metals' mineral concessions. Mining is currently the second largest industry in Jamaica, and historical mining dates back to the colonial eras of the 1500s (Spanish) and 1800s (British). The Company also holds approximately 30,000 hectares located in the prolific high-grade Andahuaylas-Yauri Porphyry-Skarn belt of Southern Peru. Mineralization at Jasperoide is hosted in a similar geological setting to the nearby major mining operations at Las Bambas (MMG), Constancia (Hudbay) and Antapaccay (Glencore). At Jasperoide, the Company has identified over 15 skarn prospects and an outcropping porphyry system over two parallel 28km belts. The Company has published a maiden resource estimate on the first of these skarn targets, which contained Measured & Indicated Resources of 52Mt at 0.5% copper and 0.2 g/t gold.
Related Link: www.c3metals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the exploration operations of the Company and the timing which could be affected by the current global COVID-19 pandemic. Those assumptions and factors are based on information currently available to the Company. Although such statements are based on reasonable assumptions of the Company's management, there can be no assurance that any conclusions or forecasts will prove to be accurate.
While the Company considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral prices and the worldwide demand for and supply of minerals, risks related to increased competition and current global financial conditions and the COVID-19 pandemic, access and supply risks, reliance on key personnel, operational risks, and regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks.
The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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SOURCE: C3 Metals Inc.
