News Summary
On December 15, 2025, C3 Metals announced initial drill results from the first-ever hole at its 100%-owned Khaleesi copper project in Peru. The hole, KHZ5800-001, intersected a broad 269-metre zone of copper mineralization grading 0.30% copper from a depth of 346 metres. This broad zone included a higher-grade interval of 60.4 metres at 0.41% copper. The company confirmed this discovery validates its geological model, intersecting skarn- and porphyry-style mineralization that extends under thin glacial till cover. Mineralization remains open in all directions. CEO Dan Symons stated the result was “tremendous” for a greenfield project and that the grades are consistent with existing mines in the world-class Andahuaylas-Yauri belt.
Material Impact
The drill results from Khaleesi are highly positive and material for C3 Metals. This is the first tangible proof of a large-scale copper system at the company’s highest-priority, 100%-owned project.
– De-risking Event: Hitting a 269-metre mineralized interval in the first-ever drill hole significantly de-risks the Khaleesi project. It confirms the effectiveness of the extensive geological, geochemical, and geophysical work conducted over the past year and proves the presence of a significant mineralizing system.
– Validation of Geological Model: The results confirm that mineralization extends under glacial cover, which substantially increases the potential target area. The intercept showing both porphyry and skarn styles of mineralization is consistent with the company’s exploration thesis for a large system analogous to major deposits in the belt.
– Economic Grades: While not exceptionally high-grade, 0.30% Cu over 269m with a core of 0.41% Cu over 60.4m is economically significant for a large-tonnage porphyry system, especially in a district with established mines operating at similar grades.
– Progression of Strategy: This discovery follows a series of systematic and positive exploration steps announced throughout 2025. It contrasts with the recent operational setback in Jamaica due to Hurricane Melissa (Nov 5, 2025), highlighting the benefit of the company’s diversified asset base. The company’s strategy of advancing multiple projects is paying off, with a significant discovery now in hand at the project it retains 100% ownership of.
While the market has anticipated good news, with the stock price increasing over 500% in the past year, these results provide the fundamental validation to support the re-rating. The news confirms Khaleesi as the company’s flagship asset and provides a clear path forward for value creation through continued drilling.
Catalysts
– Khaleesi Drill Results: Assay results from the remaining 13 holes (approx. 5,700 metres) of the maiden drill program. The market will be looking for confirmation of continuity, expansion of the mineralized footprint, and potentially higher-grade zones.
– Jamaica Operations Update: News on the resumption of exploration activities at the Super Block and Bellas Gate projects following the 6-8 week suspension due to Hurricane Melissa.
– Bellas Gate Geophysical Survey: Results from the district-scale 3DIP survey being conducted and funded by partner Freeport-McMoRan. These results will define deeper drill targets for the 2026 program.
– Super Block Drill Results: Further results from the initial 2,500m drill program at the Super Block gold project. Initial results (Sept 29, 2025) were encouraging but low-grade; vectoring toward higher grades will be key.
Materiality Conclusion
The announcement is rated “Material – Positive”. Discovering a broad, well-mineralized copper system in the first drill hole on a greenfield target is a significant exploration success. It validates the company’s exploration strategy, materially de-risks the Khaleesi project, and establishes a clear flagship asset with 100% ownership, providing a strong foundation for potential resource definition.
