C3 Metals Intersects Near Surface Copper Mineralization in First Phase of Drilling at Khaleesi Copper Project, Peru

The most recent news (February 26, 2026) reports that C3 Metals has successfully intersected copper mineralization in all 12 diamond drill holes completed during the first phase of drilling at its 100%-owned Khaleesi project in Peru. The mineralized footprint now spans 1,000m by 500m. Key intercepts include 101.1m at 0.37% CuEq and 243.7m at 0.29% CuEq. These results follow the closing of a significantly upsized $28 million bought deal private placement on February 11, 2026, which was increased from an initial $20 million.

The impact is Routine - Positive. While the 100% hit rate on a greenfield project is technically impressive and validates the large-scale hydrothermal system, the grades (0.24% to 0.37% Cu) are relatively low-to-moderate for a deep skarn/porphyry target. - Validation: The news confirms that mineralization extends under glacial cover, significantly increasing the target area. - Expectations: The results are in line with the "proof of concept" established by the first two holes reported in late 2025/early 2026. - Financial Strength: The material positive shift occurred earlier in February with the $28M capital raise, ensuring the company is fully funded for its massive 15,000m follow-up program. - Comparison: The grades are consistent with district averages (e.g., Las Bambas), but the market was likely looking for a "high-grade core" to justify a massive re-rating.

C3 Metals is a junior explorer focused on copper-gold porphyry and skarn systems in Peru and Jamaica. - Flagship Project: Khaleesi (Peru), located in the Andahuaylas-Yauri belt, 45km from Las Bambas. It is a 31,000-hectare land package that was never drill-tested before C3. - Secondary Assets: Bellas Gate (Jamaica), under a US$75M earn-in with Freeport-McMoRan, and the Super Block JV (Jamaica) targeting epithermal gold.