VANCOUVER, British Columbia, March 29, 2021 (GLOBE NEWSWIRE) -- C2C GOLD CORP. (CSE: CTOC; OTCQB: CTCGF) is pleased to announce that it will begin trading at market open on Tuesday, March 30, 2021 on the OTC under the new stock trading symbol CTCGF (formerly TAKUF), which more closely represents its corporate name.
C2C Gold - Newfoundland Properties
C2C Gold’s project areas cover 1,151 sq km south of the Red Indian Line (RIL) fault zone:
| • The Badger Project | 1,910 contiguous claims covering 477.5 sq km; |
| • The Millertown Project | 1,569 contiguous claims covering 392 sq km; and |
| • The Barrens Lake Project | 1,126 contiguous claims covering 282 sq km. |
C2C’s gold projects are located within Newfoundland’s Central Gold Belt; a northeast trending structural zone bounded by the Red Indian Line (RIL) on the north and the Valentine Lake shear 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. Geological maps and historical geophysical surveys 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.
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 gold deposits in Australia. Regionally, till and lake sediment sampling programs by the Newfoundland and Labrador Geological Survey defined northeast trending clusters of gold-in-till anomalies south of the RIL.
C2C Gold is focusing on the correlation between the anomalous gold-in-till samples and underlying structural features shown on historical geophysical surveys. A comprehensive program of deeper soil sampling over the most promising areas will target potential buried gold mineralization. There are numerous gold-in-till anomalies on all three C2C project areas south of the RIL. The most recent gold exploration took place in 2016-2017 and consisted of infill till sampling on areas that partially overlap the current C2C property boundaries.
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 announced by New Found Gold Corp. (22.3 g/t gold over 41.3 m) 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 led 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 Lori Walton, P. Geo., CEO and Director of C2C Gold Corp. and “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
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 1,151 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
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
2 October 27, 2020 News Release – see newfoundgold.ca