Newfoundland

South Tally

Location & Access

Contiguous with the southeast boundary of C2C’s Barrens Lake property

SIZE

277 claims covering 69.25 sq km

OWNERSHIP

Joint Venture

WORK TO DATE

Data compilation and review

TARGET

Orogenic gold and volcanogenic massive sulphide mineralization

ADJACENT PROJECTS

N/A

The South Tally property (277 claims,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. 

The Option is comprised of an initial option (the “First Option”) to earn and acquire a 51% ownership interest in the Properties and a second option (the “Second Option”), in the event Buchans elects not to participate in the joint venture, to earn and acquire an additional 19% ownership interest in the Properties.