VANCOUVER, British Columbia, Aug. 18, 2021 (GLOBE NEWSWIRE) -- C2C Gold Corp. (CSE: CTOC; OTCQB:CTCGF) (the “Company” or “C2C”) is pleased to provide an update on exploration activities across the Company’s Newfoundland projects which include:
- A total of 12,000+ soil samples and 120 rock samples were collected from the Badger, Millertown and Barrens Lake properties;
- A 9,720 line km high resolution aeromagnetic VLF-EM airborne survey and LIDAR (light detection remote sensing survey);
- receipt of drill permits and a contract for a dedicated reverse circulation drill for the Badger, Millertown, and Barrens Lake properties;
- Confirmation of funding from the Government of Newfoundland & Labrador’s Junior Exploration Assistance Program.
Additionally, the Company is presently compiling data and preparing for field programs on the new South Tally and Lake Douglas properties. A GT Probe Program is scheduled at the Millertown and Barrens Lake projects.
“We are extremely pleased with the volume and fieldwork progress to date and once again would like to thank our field crews and supportive local supply and service providers,” said Lori Walton, Chief Executive Officer of C2C Gold Corp. “ C2C acknowledges its deep appreciation for the excellent geologic database supported by the Government of Newfoundland and Labrador and acknowledges the Government of Newfoundland and Labrador’s financial support of the 2021 exploration program through the Junior Exploration Assistance Program.”
Soil and Rock Geochemistry Fieldwork
A total of 12,653 soil samples have been collected to date from the Badger (941 soil samples), Millertown (8,436 soil samples), and Barrens Lake (3,276 samples) properties by a locally hired and trained soil sampling crew from GroundTruth Exploration. Soil grid locations were selected based on structure, prior till or soil sampling, rock lithology, and access. A total of 120 rock samples are collected to date from the Company’s properties. Phase Two soil sampling and surface fieldwork will largely focus on the Company’s new South Tally and Lake Douglas properties. Further information on sampling and laboratories will be provided when results are available.
Airborne Geophysical Surveying and LIDAR Survey
The Company has received permits and contracted Terraquest Ltd to begin a 9,720 line km, fixed-wing, high resolution aeromagnetic gradiometer and digital VLF-EM survey over the Badger, Millertown, and Barrens Lake properties. The survey will highlight geologic structures that will allow for more precise targeting of potential drill targets by better understanding the deep crustal structures, splay and relay faults, and folds that underlie the region. A LIDAR survey over the Badger, Millertown, and Barrens Lake properties has commenced and will provide supplementary information on regional and local geologic structures.
Drill Permits and Planned Drill Program
Drill permits for reverse circulation and diamond drilling are received for the Badger, Millertown, and Barrens Lake properties. Additionally, a contract has been approved for a dedicated low-impact reverse circulation Scout drill rig to provide a cost-effective and efficient initial evaluation of mineralization. The scope and details of the drill programs will be determined after receipt and interpretation of geochemical, GT Probe, and airborne surveys. Applications for drill permits for the South Tally and Lake Douglas properties will be submitted after the Company’s data compilation and initial fieldwork are completed.
GT Probe Program
The GT Probe is a low-impact, remotely operated device on rubber tracks that drives a two to four meter hole through the soil profile to the bedrock interface with samples collected from the final 30 cm of the hole. The GT Probe is a cost-effective intermediate step between soil sampling and drilling and provides real-time analysis through an onsite XRF technician before the samples are sent for analysis.
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.
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:
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.
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.
