C3 Metals "cashed up and ready to go" after $8M placing

C3 Metals Inc (TSX-V:CCCM, OTC:CARCF) CEO Dan Symons speaks to Thomas Warner from Proactive about the copper-gold explorer's company's progress at the Bellas Gate Project in Jamaica.

Symons explains that C3 Metals is currently operating two drill rigs, including a man-portable rig purchased from Indonesia, which has impressively exceeded its depth capability by nearly 50%. Additionally, they have a larger capacity contract rig for deeper drilling.

The company recently announced significant findings from the Bellas Gate project in Jamaica, particularly at the Porphyry deposit named Provost. They discovered a 281-meter section with 0.5% copper equivalent, with the grade improving at greater depths. The last 62 meters showed a 0.77% copper equivalent, marking a 25% increase.

This exploration revealed different layers of the Porphyry system, including a transition from a pyrite shell to a chalcopyrite zone, and finally to a bornite zone, which is particularly notable for its high temperature and superior copper and gold grades.

C3 Metals plans to continue drilling with their larger rig to explore deeper into the system, aiming to uncover higher-grade cores. The company also successfully raised funds, securing $8mln Canadian despite a challenging market for junior explorers.

This financial boost aims to support an ambitious drilling program of 20,000 meters in 2024, expanding from the 8,500 meters drilled this year.

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