VANCOUVER, British Columbia, June 16, 2021 (GLOBE NEWSWIRE) — C2C Gold Corp. (CSE: CTOC) (the “Firm” or “C2C”) is happy to announce the acquisition of a 100% curiosity within the Rocky Pond and Burnt Lake gold properties positioned 70 km northeast of the Firm’s Badger, Millertown, and Barrens Lake tasks within the Central Newfoundland Gold Belt. Historic quartz vein samples from the Rocky Pond Gold incidence contained as much as 51.8 g/t gold, with plentiful arsenic. Rocky Pond is adjoining to and on pattern with New Discovered Gold’s land package deal internet hosting the Queensway discovery.
Rocky Pond and Burnt Lake Acquisition Highlights:
- 100% curiosity in three mineral licenses (27 claims) overlaying the Rocky Pond gold incidence;
- Rocky Pond has related mineralization to New Discovered Gold’s Queensway discovery, together with quartz veins with stibnite, arsenopyrite, pyrite, and as much as 51.8 g/t gold in historic rock samples.
- 100% curiosity in a single mineral license (4 claims) overlaying the Burnt Lake gold incidence with as much as 270 ppb gold from quartz veins.
For extra data and to view C2C undertaking maps together with the newly acquired properties go to: https://bit.ly/3xrGXTz
The Rocky Pond and Burnt Lake gold occurrences are focused for floor exploration in C2C’s 2021 subject program. Acquisition of the Rocky Pond and Burnt Lake mineral licenses will increase the Firm’s land place within the Central Newfoundland Gold Belt to 4,664 claims (1,166 sq km).
Rocky Pond Undertaking
The Rocky Pond property is well accessible by way of the Trans Canada Freeway and forest entry roads. The property has seen sparse exploration for the reason that discovery in 1998 of two structurally managed quartz veins containing stibnite, pyrite, and arsenopyrite. Rock samples collected right now returned as much as 52.8 g/t gold and plentiful arsenic. It was reported that the veins could proceed for a minimum of 100 m alongside strike.
Rubicon Minerals Company carried out a brief program of prospecting, rock sampling and trenching in 2003, and uncovered a quartz vein as much as 1 m vast containing arsenopyrite clots and native pyrite. Rock samples from outcrop returned 74 and 110 ppb gold and 535 and 507 ppm arsenic. The undertaking is underlain by Ordovician siliciclastic rocks.
C2C plans to combine the seller’s information into the corporate’s regional dataset and conduct an exploration program as a part of its 2021 exploration season.
Burnt Lake Undertaking
The Burnt Lake property is positioned 35 km north of the city of Gander. A forest entry street offers entry to the property, which is underlain by Ordovician siliciclastic rocks. In keeping with historic data seize rock samples from quartz veins inside a gabbro sill intruding black shale returned as much as 270 ppb gold. Evaluation report data additionally doc the restoration of quite a few positive grained delicate gold grains from a until pattern. The until pattern was collected from the ditch that uncovered the mineralized quartz vein; the uncovered mineralization was not regarded as the supply of the gold.
The historic exploration information and analytical outcomes reported on this information launch had been compiled from publicly accessible evaluation reviews and different information filed with the Division of Power, Trade, and Know-how, Authorities of Newfoundland and Labrador. Neither C2C Gold or a certified particular person has verified the historic sampling and analytical information on this information launch.
Phrases of the Settlement
The Firm has entered into an Settlement with the seller for 100% possession of the Rocky Brook and Burnt Lake mineral licenses in change for $70,000 money and the issuance of 700,000 widespread shares upon signing. The seller retains a 2% web smelter return royalty of which C2C should buy 1% at any time for $1,500,000. The acquisition settlement is topic to change approval.
C2C Gold – Newfoundland Properties
C2C Gold’s principal undertaking areas cowl greater than 1,160 km² alongside and between the RIL and the Valentine Lake shear zone within the Central Gold Belt of Newfoundland. The Firm’s potential holdings prolong for greater than 100 km alongside the Central Gold Belt; a northeast trending structural zone extending throughout Newfoundland. Regionally in depth fault zones are deep crustal sutures which localize deformation and fluid circulate and host orogenic-style gold bearing quartz veins and stockwork zones.
Corporations engaged on lively gold tasks inside this belt and the broader Exploits Subzone have famous the similarity in geological setting and character with each the Abitibi greenstone belts in Ontario and Quebec, Canada and the Bendigo-Fosterville gold deposits in Australia. Regionally, until and lake sediment sampling applications by the Newfoundland and Labrador Geological Survey outlined northeast trending clusters of gold-in-till anomalies south of the RIL.
C2C Gold is specializing in testing the correlation between anomalous gold-in-till samples and underlying structural options proven on historic geophysical surveys. A complete program of deeper soil sampling over probably the most promising areas will goal potential buried gold mineralization. There are quite a few gold-in-till anomalies all through the C2C property holdings.
Newfoundland Initiatives – Regional Overview
Newfoundland has lengthy been recognized to have a lot of gold occurrences with comparatively little trendy exploration. Historic manufacturing from the Hope Brook, Nugget Pond, and Level Rousse tasks have been typical of the island’s mines with comparatively modest manufacturing from excessive grade deposits. Extra lately vital important drill intersections comparable to these introduced by New Discovered Gold Corp. and people contributing to the rising useful resource at Marathon Gold Corp’s Valentine Deposit have raised the standing of the world to that of a premier gold exploration jurisdiction. These continued optimistic outcomes have led to a dramatic enhance in exploration exercise giving rise to a modern-day gold rush all through.
Technical data on this information launch has been permitted by Lori Walton, P.Geo., CEO and Director and a “Certified Individual” as outlined by Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives.
C2C Gold Corp.
C2C is a Canadian mineral exploration firm centered on the acquisition and improvement of mineral tasks in Newfoundland, Canada. The Firm holds the Badger, Millertown, and Barrens Lake tasks, which cumulatively cowl an space of greater than 1,160 km² with street entry and proximity to communities and energy strains. C2C additionally holds a portfolio of tasks inside the prolific White Gold and Klondike districts in Canada’s Yukon.
Neither the Canadian Securities Alternate nor its Market Regulator (as that time period is outlined in insurance policies of the Canadian Securities Alternate) accepts duty for the adequacy or accuracy of this launch.