C2C Gold Corp. announces expansion of its projects in Newfoundland; Appointment of the Chief Financial Officer
VANCOUVER, British Columbia, May 27, 2021 (GLOBE NEWSWIRE) – C2C Gold Corp. (CSE: CTOC) (the “Company” or “C2C”) Is pleased to announce the acquisition of two very promising properties adjacent to the Company’s Badger project in the gold belt of central Newfoundland. The strategic acquisition of the Tom Joe and Rocky Brook properties provides the Company with known gold showings which will be included in C2C’s exploration program for 2021. The Company also announces the appointment of Ms. Weiting (Camille) Zhou as director financial from June 1, 2021.
Highlights of the acquisition of Tom Joe and Rocky Brook:
- 100% interest in two mining permits (ten claims) covering the Tom Joe gold-arsenic occurrence with reported historical values of up to 1.9 g / t gold in rock samples;
- 100% interest in two mining permits (two claims) covering the Rocky Brook East Gold occurrence with reported values up to 5.3 g / t gold from rock samples taken from surface;
- The Tom Joe and Rocky Brook East gold showings are included in the areas targeted for surface exploration in the C2C 2021 field program. The acquisition of the Tom Joe and Rocky Brook mining permits extends the Badger project area to 480 km2 and brings the total holdings of the central Newfoundland gold belt to 4,617 claims (1,154 km2).
For more information on C2C projects, including newly acquired projects, visit: https://bit.ly/2SnRdwK.
“We are pleased to add the strategically located historic Tom Joe and Rocky Brook East gold occurrences to our Badger project area. The Tom Joe property sits in a northeast trending structural zone on the company’s main Badger project area and underlies historical anomalous gold samples in till, ”said Lori Walton, head of the company. direction. “In addition, on behalf of the management and board of directors of C2C Gold, we are very pleased to welcome Camille Zhou as the new CFO. Janet Lee-Sheriff and I look forward to continuing our working relationship with Camille in this new role.
Newfoundland Gold Virtual Investor Days Conference
C2C Gold will present at 1st Newfoundland.Gold Virtual Conference will be held June 1-3, 2021. For more information, please visit: Virtual Investor Day – Newfoundland Gold.
Tom Joe Project
The Tom Joe gold-arsenic occurrence is covered by two mining permits containing ten claims over 250 hectares (2.5 km2). Tom Joe is located 25 km south of the town of Badger and is easily accessible by a road crossing the property. According to the appraisal report reports, Altius Resources Inc. conducted surface work programs on the property in the late 1990s and reported gold in mineralized rock samples containing pyrite, l arsenopyrite and sphalerite from the Tom Joe occurrence. There has been limited work on the property; The most recent publicly documented work was a till sampling program completed in 2017 by Stratton Minerals, where several samples of anomalous gold in till were collected in the area.
The zone of Tom Joe gold-arsenic mineralization and carbonate-sericite-kaolinite alteration in the rubble was noted by a prospector in 1996 while prospecting for further road cuts. The Tom Joe property rests on Cambro-Ordovician marine siliciclastic sediments of the Lake Victoria supergroup mapped as being stratigraphically under the Carodician black shale unit and sedimentary rocks of the Badger Group.
The Rocky Brook East Gold occurrence is covered by two mining permits containing two claims of over 50 hectares (0.5 km2) located at the northern limit of the Company’s Badger property. The Rocky Brook property is located ten kilometers north of the town of Badger on the Trans-Canada Highway and is easily accessible by logging roads. Historical rock sampling results as reported in assessment reports include quartz-carbonate veins returning values up to 5.3 g / t gold.
The Rocky Brook East showing was first documented in the late 1990s when a local prospector discovered quartz-carbonate veins and breccias mineralized with galena, chalcopyrite and arsenopyrite . The mineralized zone is hosted by a sequence of gabbroic plugs and dykes intruding on metasedimentary rocks. There has been little exploration work on the Rocky Brook gold occurrence.
The property lies near the Red Indian Line, a significant deep crustal structure, where mafic to felsic volcanic rocks and Roberts Arm belt sediments to the west are in contact with deep faulting with Badger Group sediments. to the East.
The historical exploration data and analytical results reported in this press release have been compiled from publicly available assessment reports and other data filed with the Department of Energy, Industry and Government of Newfoundland and Labrador technology. Neither C2C Gold Corp. nor has any qualified person verified the historical sampling, analysis and testing data contained in this press release. Historical grab rock sampling results are selected samples and are not necessarily indicative of mineralization on the properties.
The company has entered into an agreement with the seller for 100% ownership of the Tom Joe and Rocky Brook mining permits in exchange for $ 25,000 in cash and the issuance of 200,000 common shares upon signature. The seller retains a 2% royalty on the net smelter return, of which C2C can purchase 1% at any time for $ 500,000. The purchase contract is subject to the approval of the exchange.
Weiting (Camille) Zhou, Chief Financial Officer
Ms. Zhou brings more than 10 years of experience in private and public enterprise finance. She began her professional career with Ernst & Young LLP and has spent most of her career in various financial roles in the resource industry, with a focus on mining companies listed on the TSX Venture Exchange. She has experience in financial reporting under IFRS and US GAAP. Ms. Zhou comes to the company from Golden Predator Mining Corp., where she recently served as a corporate controller. Ms. Zhou holds an M.Sc. in Finance from the University of Saskatchewan, with research focused on corporate governance and mergers and acquisitions. She also holds a BBA in Accounting from the University of Macau.
The Company would like to thank Scott Davis for his service to the Company.
The technical information contained in this press release has been approved by Lori Walton, P.Geo., CEO and Director and a “Qualified Person” as defined by National Instrument 43-101 – Disclosure Standards for Mining Projects.
C2C Gold – Newfoundland Properties
The C2C Gold project areas cover over 1,154 km² along and between the Red Indian Line (RIL) and the Valentine Lake Shear Zone in the central gold belt of Newfoundland. The company’s potential holdings extend for more than 100 km along the central gold belt; a northeast trending structural zone extending across Newfoundland. The large regional fault zones are deep crustal sutures that localize deformation and fluid flow and host orogenic-type auriferous quartz veins and areas of stockwork.
Companies working on active gold projects in this belt and in the larger Exploits subzone have noted the similarity of context and geological character to the Abitibi greenstone belts in Ontario and Quebec, Canada and the Bendigo-Fosterville gold deposits in Australia. Regionally, the Newfoundland and Labrador Geological Survey’s till and lake sediment sampling programs have defined northeast trending clusters of gold anomalies in till south of French.
C2C Gold focuses on testing the correlation between anomalous gold samples in till and the underlying structural features shown in historical geophysical surveys. A comprehensive program of deeper soil sampling in the most promising areas will target potential buried gold mineralization. There are numerous gold anomalies in till across the properties of C2C.
Newfoundland Projects – Regional Overview
Newfoundland has long been known to have a large number of gold occurrences with relatively little modern exploration. Historical production from the Hope Brook, Nugget Pond and Point Rousse projects has been typical of the Island mines with relatively modest production from high grade deposits. More recently, major drill intersections such as those announced by New Found Gold Corp. and those contributing to resource growth at Marathon Gold Corp’s Valentine deposit have elevated the zone’s status to that of a leading gold exploration jurisdiction. These continued positive results have led to a dramatic increase in exploration activity, resulting in a modern gold rush.
C2C Gold Corp.
C2C is a Canadian mining exploration company specializing in the acquisition and development of mining projects in Newfoundland, Canada. The Company owns the Badger, Millertown and Barrens Lake projects, which cumulatively cover an area of over 1,154 km² with road access and proximity to communities and power lines. C2C also has a portfolio of projects in the prolific White Gold and Klondike districts of the Canadian Yukon.
For more information:
Lori Walton, Executive Director
Neither the Canadian Securities Exchange nor its market regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.