VANCOUVER, British Columbia, Dec. 09, 2020 (GLOBE NEWSWIRE) -- C2C GOLD CORP. (CSE: CTOC; OTCQB: TAKUF) (formerly Taku Gold Corp.) is pleased to announce an expansion of its property holdings in the prolific Newfoundland Central Gold Belt as part of a strategic initiative to grow C2C into a leading company in Newfoundland’s rapidly emerging gold exploration boom. C2C has acquired, through staking, an additional 525 claims and now controls a total of 2,497 claims covering 624 sq km in the Central Newfoundland Gold Belt. The C2C properties are all road accessible and situated along the same prominent structural orogenic belt that is host to Marathon Gold’s Valentine project (estimated resources in all categories exceeding 4 million ounces gold)1, Canterra Minerals Corp.’s Wilding project, Great Atlantic Resources Corp.’s Golden Promise project and Sokoman Minerals Corp.’s Moosehead project.
The Company is also pleased to announce the appointment of Shawn Ryan, 2011 recipient of PDAC’s Prospector of the Year, as Technical Advisor to the Company.
The Company is hosting a live discussion on Thursday, December 10th at 11 AM PST with Technical Advisor, Shawn Ryan, and Executive Chair Janet Lee-Sheriff. Please log in and join the live discussion as they outline the exciting development in Newfoundland and C2C Gold’s growing position in the region: https://attendee.gotowebinar.com/register/1313530878031715342.
To view C2C’s growing property holdings and overall activity in Newfoundland please view: https://bit.ly/2VBWnDx.
Shawn Ryan, Technical Advisor
Shawn has over 20 years of experience prospecting gold across the Yukon and has been rapidly expanding his prospecting in Canada’s Newfoundland. A global leader in his field, his prospecting and specialization on advanced soil geochemical work led to the discovery of the millions of gold ounces including the Golden Saddle & Arc, Coffee, and QV gold resources. This success has also been recognized with Shawn winning the 2011 PDAC Prospector of the Year Award, 2010 Spud Huestis Award and the Yukon Prospector of the Year Award. Shawn continues to be an active participant with his technical teams, constantly improving efficiencies with his methodological exploration techniques.
C2C Gold - Newfoundland Properties
The company’s land package consists of three properties, Badger (1001 claims – 25,025 hectares), Millertown (908 claims – 22,700 hectares) and Barrens Lake (588 claims – 14,700 hectares). The new staking included the addition of claims to the Badger Lake project and the Barren Lake project. The expansion of these claim blocks covered adjacent prospective ground based with through-going regional-scale faulting and regionally anomalous gold in till geochemistry.
The C2C Gold projects are located within the Central Gold Belt within a northeast trending structure zone bounded by the Red Indian Line (RIL) fault zone on the north and the Valentine Lake fault zone to the south. These regionally extensive fault zones are deep crustal sutures which localize deformation and fluid flow and host orogenic-style gold bearing quartz veins and stockwork zones within the Central Gold Belt. Geologic mapping and aeromagnetic data show the complex architecture of faulting and folding characteristic of the Central Gold Belt. The host rocks are largely Early Cambrian to Late Ordovician Victoria Lake Supergroup consisting of calc-alkalic volcanic rocks that are intercalated with and overlain by volcanogenic sandstone and shale overlain by thick Caradocian graphitic shales. Regional till and lake sediment sampling programs by the Newfoundland and Labrador Geological Survey defined numerous gold-in-till anomalies that define the Central Gold Belt and are spatially related to this northeast trending structural zone.
The Badger, Millertown and Barrens Lake properties cover highly prospective ground in a newly emerging gold district. The projects are underexplored for their gold potential, given numerous gold-in-till anomalies, underlying favorable geology, structural elements, and regional tectonic setting in this emerging orogenic gold belt. C2C is compiling all available information towards designing a 2021 exploration program to evaluate these highly prospective new properties. The most recent exploration program took place in 2016-2017, when Torq Resources carried out infill till sampling on areas that overlap with portions of the current C2C property boundaries.
Companies working on active gold projects within this belt and the broader Exploits Subzone have noted the similarity in geological setting and character with both the Abitibi greenstone belts in Ontario and Quebec, Canada and the Bendigo-Fosterville deposits in Australia. Government reports enhanced by work completed by prospectors and public companies have shown, in many instances, gold-in-till anomalies are related to underlying gold-in-soil anomalies which are more directly linked to underlying bedrock gold occurrences.
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 have been typical of the island’s mines with relatively modest production from high grade deposits. More recently important significant drill intersections such as those at New Found Gold Corp. (22.3 g/t gold over 41.3 m)4 and those contributing to the growing resource at Marathon Gold Corp’s Valentine Deposit have raised the status of the area to that of a premier gold exploration jurisdiction. These continued positive results have given rise to extensive staking and expanded land holdings within Newfoundland’s Central Gold Belt giving rise to a modern-day gold rush.
Technical information in this news release has been approved by Jeff Cary, CPG, a consultant and “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About C2C Gold Corp.
C2C Gold Corp is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in Newfoundland, Canada. The Company holds the Badger, Millertown, and Barrens Lake projects, which cumulatively cover an area of 624 km² with road access and proximity to communities and power lines. All projects lie within the Central Newfoundland Gold Belt and provide a large land position in a top mineral exploration jurisdiction. Mineral development in Newfoundland has advanced significantly with increased exploration and development activities throughout the province. C2C also holds one of the largest land packages, with several prominent projects, within the prolific White Gold and Klondike districts in Canada’s Yukon.
For additional information:
Lori Walton, Chief Executive Officer
(604)757-7180
info@c2cgold.com
www.c2cgold.com
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.
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1 April 6, 2020 News Release – see N.I. 43-101 Technical Report and Pre-Feasibility Study on the Valentine Gold Project at marathon-gold.com