C2C Reports 120 g/t Au from Dunnage Property Sampling
VANCOUVER, British Columbia, Sept. 12, 2022 (GLOBE NEWSWIRE) — C2C Gold Corp. (CSE: CTOC; OTCQB: CTCGF) (the “Company” Where “Gold C2C”) today announced the final results of assay results for rock samples taken from properties recently acquired with the acquisition of The Rock Gold Corp. Initial field reconnaissance and rock chip sampling from the Dunnage and Mega Vein properties located in Newfoundland, Canada is an outcrop sample from the Dunnage property containing visible gold grading 120 g/t.
Additional results are reported for the Mega Vein property east of Gander Bay South. The samples, taken from a two kilometer linear train of irregularly shaped coarse quartz boulders in the till veneer, returned 13 anomalous gold grades along the boulder train to a maximum value of 0.6 g /t. The orientation, shape, and size of these boulders are thought to indicate that they are subculture or material that has moved little from its source. Quartz texture, gold and trace element values suggest a high-level epithermal system with the best gold targets located at depth. The property is located within the Eastern Exploits subzone of the Dunnage Zone, which hosts prolific gold and base metal mineralization across the island. These regional structures also host significant gold values along strike.
To view C2C Gold project maps, sampling results and photos, please visit: https://bit.ly/3d6a5Lh
Peter Bures, Managing Director of C2C Gold, said, “The C2C team is very excited about the large orogenic quartz vein sample containing visible gold as well as the large anomalous zone associated with a probable epithermal gold system. Both styles of mineralization are recognized as the primary types of gold targets in Newfoundland. We look forward to new discoveries as we systematically evaluate the many properties recently acquired with our acquisition of The Rock Gold Corp. Work also continues on the major Millertown, Badger and Barrens Lake projects. We are confident that we will be able to generate a number of high priority near surface drill targets across our extensive property portfolio. »
Mr. William Sheriff Appointed Executive Chairman of C2C Gold Corp.
Concurrent with the acquisition of The Rock Properties, Mr. William Sheriff was appointed Executive Chairman of the Board of Directors of C2C Gold. He brings with him a solid foundation of entrepreneurial experience and wealth creation with over 40 years of experience in the minerals industry and is recognized for his prospecting and selection of projects across North America. Mr. Sheriff is also the founder and executive chairman of enCore Energy Corp. (TSXV: EU), having led the development of the company from its inception to become a near-term ISR uranium producer with a multi-jurisdictional asset base in the United States. He is also a director and co-founder of Group 11 Technologies Inc, a private company committed to the development and application of environmentally and socially responsible SRI extraction of precious metals as an alternative to conventional mining methods.
The Dunnage Property, New World Island area
The Dunnage project, located in the southern part of New World Island, was selected because of its proximity to regional faults, including the Red Indian Line (RIL) and the Virgin Arm, as well as geochemical and stratigraphic conditions favorable to the deposit of gold. The 2021 prospecting programs in this area returned several indications of gold mineralization systems on the properties, including visible gold, arsenopyrite and stibine mineralization. A total of 5 surface rock chip samples were collected during an initial reconnaissance visit with 2 samples returning over 2 g/t gold.
The Mega Vein Property, GAnder Bay South Region
The Mega Vein property is located along the northern extent of the Appleton and Joe Batts Pond Lines. These two structural zones are important hosts for gold mineralization sixty kilometers to the southwest around Appleton, Newfoundland. The area is underlain by low-grade metasedimentary rocks of the Davidsville Group, which hosts gold mineralization along the Appleton and Joe Batt lines. These strips represent major fault zones that host abundant mineralization north of Gander Lake and are spatially associated with numerous gold showings along their strike length.
C2C Gold holds several mining licenses along the southwest trend of Gander Bay South which are contiguous to Newfound Gold’s Queensway Project and Exploits Discovery’s Gazeebow Project. The company’s recent acquisition of The Rock Gold properties added the Mega Vein property to the east of Gander Bay South. The property is underlain by a folded succession of Davidsville Group siltstone and shale. Low-grade gold mineralization was discovered in large angular boulders of quartz veins that form a 3.3 kilometer northeast trending boulder train. The blocks exhibit boiling textures characteristic of epithermal quartz veining, a common vein style along the trend.
Gold concentrations are large and widespread. The quantity, size, and angular nature of the boulders are interpreted to suggest proximity to the bedrock source. The property will be advanced with soil samples, additional prospecting and geological mapping during the 2022 field season to prioritize potential drill sites along the trend.
Analytical and laboratory methods
Rock samples were collected by independent prospectors on each of the properties. Samples were submitted to Eastern Analytical Ltd., based in Springdale, Newfoundland, for sample preparation and analysis. All samples are subjected to four acid digestions and ICP-ES/MS for 34 elements. Gold is analyzed by fire assay with an atomic adsorption finish to determine the concentration of gold in each sample.
C2C Gold gratefully acknowledges the financial support of the Newfoundland and Labrador Department of Natural Resources for C2C Gold’s 2021 exploration program on the Badger, Millertown and Barrens Lake properties through the Exploration Assistance Program junior.
The technical information disclosed in this press release has been reviewed and approved by Chris Buchanan, P.Geo., Chief Geologist for C2C Gold and Qualified Person as defined by National Instrument 43-101.
About C2C Gold Corp.
C2C Gold Corp. is a mining exploration company focused on advancing gold projects in Newfoundland, Canada. C2C Gold holds one of the largest land positions in the central Newfoundland gold belt and, through the acquisition of The Rock Gold Corp., now includes numerous projects located along the main gold structural zones at scale of the crust. C2C Gold’s portfolio spans a pipeline of projects from early exploration stage to drill-ready stage with known gold showings. C2C also holds a portfolio of projects in the prolific White Gold and Klondike districts of Yukon, Canada.
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