Vancouver, British Columbia – June 7, 2022: C2C Gold Corp. (CSE:CTOC; OTCQB:CTCGF) (the “Company” or “C2C”) announced today the commencement of the 2022 exploration season with the initial work being conducted on the South Tally project. An airborne drone geophysical survey, now underway, will provide a high-resolution survey which the technical team will utilize to map the surface and identify structures in the subsurface. The survey, instrumental to determining the geometry end extent of fault zones and host rocks, provides a valuable tool in areas with till cover that may be obscure quartz and gold outcrops. Commencement of additional exploration work on C2C projects is planned across other projects.
On August 4th, 2021, the Company announced it entered an option and joint venture agreement with Buchans Resources Limited (“Buchans”) pursuant to which Buchans will grant C2C an option to acquire up to a 70% ownership interest in 364 mineral claims (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.
To view C2C project maps please visit: https://bit.ly/3m8sjgd.
South Tally Project
The South Tally property (69.25 km2) is contiguous with the southeast boundary of C2C’s Barrens Lake property. The South Tally property has traditionally been explored for VMS-style base metal mineralization. It remains essentially unexplored for gold despite the property covering an area hosting anomalous gold values detected within several Newfoundland and Labrador Geological Survey’s regional geochemical datasets. In addition to the project’s gold potential, both Buchans and C2C are encouraged by the property’s potential to host new base metal discoveries, as the property covers a 20 km extension to the Tally Pond volcanic belt that hosts Teck Resources’ former Duck Pond mine, located less than 4 km on strike of the South Tally property.
About Buchans Resource Limited.
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.
About C2C Gold Corp.
C2C is a Canadian mineral exploration company focused on acquiring and 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:
Janet Lee-Sheriff, Interim 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.