Vancouver, British Columbia – December 9, 2021: C2C Gold Corp. (CSE: CTOC; OTCQB:CTCGF) (the “Company” or “C2C”), is pleased to announce the Company has commenced an excavator trenching program at its Lake Douglas property , located in the Central Newfoundland Gold Belt. The trenching program follows successful prospecting, rock sampling, and geological mapping activities focused on the northwest part of the Lake Douglas property.
Lake Douglas Property
The Lake Douglas property (21.75 km2) covers a section of the Valentine Lake Shear Zone, on-strike with the Valentine Gold Project. Marathon Gold’s Valentine Gold Project is located 15 km to the southwest on the same structural trend. The Lake Douglas property is also located less than 5 km on-strike from a number of gold prospects on adjacent mineral claims being explored by Canterra Minerals Corporation. Among the prospects located on Canterra’s adjacent property are several gold in bedrock targets, where previous drilling returned intercepts of 10.0 g/t Au over 5.35 m core length, including 49.9 g/t Au over 0.98 m.1 The Lake Douglas property is part of C2C’s joint venture with Buchans Resources Limited (“Buchans”).2 Buchans completed a soil sampling program in 2018 at the Lake Douglas property. Several multi-line gold anomalies ranging up to 200 m in length with anomalous values up to 317 ppb gold were identified.3
To view C2C project maps please visit: https://bit.ly/33dGeLO
About Buchans Resources Limited
On August 4, 2021 C2C entered an option and joint venture agreement with Buchans pursuant to which Buchans will grant C2C an option to acquire up to a 70% ownership interest in 91 km2 covering the Lake Douglas and South Tally properties, located in the Central Newfoundland Gold Belt, Canada. Both properties cover key fault structures considered prospective for orogenic-style gold mineralization.
Buchans Resources currently holds interests in zinc, lead, silver properties located in Newfoundland; gold properties in Newfoundland and in Labrador; nickel, copper, cobalt properties in Labrador, and indirectly through its shareholding in Xtierra Inc. in base metal and silver projects in Mexico, and, through its shareholding in Minco Exploration plc, in base metal exploration licences in Ireland.
In addition to the trenching work at Lake Douglas, fieldwork is winding up across C2C’s 1,261 km2 land package. Soil sampling crews have completed the work program on the Badger, Millertown, and Barrens Lake properties. Sample results from soil, rock, and GT probe sampling of deep till are pending. A LIDAR survey over Badger, Millertown, Barrens Lake, South Tally, and Lake Douglas is finished. A high-resolution airborne VLF-EM survey is nearing completion and C2C’s field crews are concluding prospecting, sampling, and geological mapping activities.
Technical information disclosed in this news release has been reviewed and approved by Chris Buchanan, P.Geo., Chief Geologist for C2C Gold Corp., and Qualified Person as defined by National Instrument 43-101.
About C2C Gold Corp.
C2C is a Canadian mineral exploration company focused on developing mineral projects in Newfoundland, Canada. The Company controls 1,261 km2, one of the largest land positions on the Central Newfoundland Gold Belt, including the Badger, Millertown, Barrens Lake, South Tally, and Lake Douglas projects with road access and proximity to communities and power lines. C2C also holds a portfolio of projects within the prolific White Gold and Klondike districts in Canada’s Yukon.
For additional information:
Lori Walton, Chief Executive Officer
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release may include forward-looking statements that are subject to risks and uncertainties and can be identified by the use of forward-looking terminology such as “expected”, “will be”, “anticipated”, “may” or variations of such words and phrases or statements that certain actions, events or results “will” occur. All statements within, other than statements of historical fact, are to be considered forward looking. Forward looking statements in this news release include but are not limited to: the structure of the Option; the exercise of the Option; and the completion of the Joint Venture. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
- Antler Gold NR dated December 13, 2017
- C2C Gold NR dated August 4, 2021
- Buchans Resources NR dated December 14, 2018