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3 years ago
$CTCGF C2C Gold Corp. Announces Expansion of Newfoundland Projects; Appointment of Chief Financial Officer
Press Release | 05/27/2021
VANCOUVER, British Columbia , May 27, 2021 (GLOBE NEWSWIRE) -- C2C Gold Corp. (CSE: CTOC) (the “Company” or “C2C”) is pleased to announce the acquisition of two highly prospective properties adjacent to the Company’s Badger project in Central Newfoundland’s Gold Belt. The strategic acquisition of the Tom Joe and Rocky Brook properties provides the Company with known gold occurrences which will be included as part of C2C’s 2021 exploration program. The Company also announces the appointment of Ms. Weiting (Camille) Zhou as Chief Financial Officer effective June 1, 2021.
Tom Joe and Rocky Brook Acquisition Highlights:
100% interest in two mineral licenses (ten claims) covering the Tom Joe gold-arsenic occurrence with reported historical values up to 1.9 g/t gold in rock samples;
100% interest in two mineral licenses (two claims) covering the Rocky Brook East Gold occurrence with reported values of up to 5.3 g/t gold from rock samples collected on surface;
The Tom Joe and Rocky Brook East gold occurrences are included in areas targeted for surface exploration in C2C’s 2021 field program. Acquisition of the Tom Joe and Rocky Brook mineral licenses expands the Badger project area to 480 sq km and increases the Company’s total Central Newfoundland Gold Belt holdings to 4,617 claims (1,154 sq km).
For more information on C2C projects including newly acquired project visit: https://bit.ly/2SnRdwK.
“We are pleased to add the strategically-located Tom Joe and Rocky Brook East historical gold occurrences to our Badger project area. The Tom Joe property lies within a structural zone trending northeast onto the Company’s main Badger project area and underlies historical anomalous gold-in-till samples,” said Lori Walton, Chief Executive Officer. “Additionally, on behalf of the management and Board of C2C Gold we are very excited to welcome Camille Zhou as our new Chief Financial Officer. Janet Lee-Sheriff and I both look forward to continue our working relationship with Camille in this new role.”
Newfoundland.Gold Virtual Investors Days Conference
C2C Gold will be presenting at the 1st Newfoundland.Gold Virtual Conference being held from June 1 to 3, 2021. For more information please visit: Virtual Investors Day - Newfoundland Gold.
Tom Joe Project
The Tom Joe gold-arsenic occurrence is covered by two mineral licenses containing ten claims over 250 hectares (2.5 km sq). Tom Joe is located 25 km south of the town of Badger and is easily accessed by a road transecting the property. According to assessment report records, Altius Resources Inc. conducted surface work programs on the property during the late 1990’s and reported gold in mineralized rock samples containing pyrite, arsenopyrite and sphalerite from the Tom Joe occurrence. There has been limited work on the property; the most recent publicly documented work was a till sampling program completed in 2017 by Stratton Minerals where several anomalous gold-in-till samples were collected in the area.
The Tom Joe gold-arsenic zone of mineralization and carbonate-sericite-kaolinite alteration in rubble was noted by a prospector in 1996 while prospecting new road cuts. The Tom Joe property is underlain by Cambro-Ordovician marine siliciclastic sediments of the Victoria Lake supergroup mapped as lying stratigraphically beneath the Carodician black shale unit and Badger Group sedimentary rocks.
Rocky Brook
The Rocky Brook East Gold occurrence is covered by two mineral licenses containing two claims over 50 hectares (0.5 km sq) situated on the northern border of the Company’s Badger property. The Rocky Brook property is located ten km north of the town of Badger on the Trans Canada Highway and is easily accessible via logging roads. Historical rock sampling results as reported in assessment reports include quartz-carbonate veins returning values up to 5.3 g/t gold.
The Rocky Brook East showing was first documented in the late 1990s when a local prospector discovered quartz-carbonate veins and breccia mineralized with galena, chalcopyrite, and arsenopyrite. The mineralized area is hosted in a sequence of gabbroic plugs and dykes intruding metasedimentary rocks. There has been minimal exploration work on the Rocky Brook gold occurrence.
The property lies near the Red Indian Line, a major deep crustal structure, where mafic to felsic volcanic rocks and sediments of the Roberts Arm Belt to the west lie in thrust-faulted contact with sediments of the Badger Group to the east.
The historical exploration data and analytical results reported in this news release were compiled from publicly available assessment reports and other data filed with the Department of Energy, Industry, and Technology, Government of Newfoundland and Labrador. Neither C2C Gold Corp. or a qualified person has verified the historical sampling, analytical, and test data contained in this news release. The historical rock grab sampling results are selected samples and are not necessarily indicative of the mineralization on the properties.
Terms of the Agreement
The Company has entered into an Agreement with the vendor for 100% ownership of the Tom Joe and Rocky Brook mineral licenses in exchange for $25,000 cash and the issuance of 200,000 common shares upon signing. The vendor retains a 2% net smelter return royalty of which C2C can purchase 1% at any time for $500,000. The purchase agreement is subject to exchange approval.
Weiting (Camille) Zhou, Chief Financial Officer
Ms. Zhou brings in over 10 years of experience in finance from private and public companies. She started her professional career at Ernst & Young LLP and has spent most of her career in various finance roles in the resource industry, with a focus on mining companies listed on the TSX Venture Exchange. She is experienced in financial reporting under both IFRS and U.S. GAAP. Ms. Zhou comes to the Company from Golden Predator Mining Corp., where she recently served as Corporate Controller. Ms. Zhou holds a M.Sc. in Finance from University of Saskatchewan, with a research focus on corporate governance and mergers and acquisitions. She also holds a B.B.A. in Accounting from University of Macau.
The Company wishes to thank Scott Davis for his service to the Company.
Technical information in this news release has been approved by Lori Walton, P.Geo., CEO and Director and a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
C2C Gold - Newfoundland Properties
C2C Gold’s project areas cover more than 1,154 km² along and between the Red Indian Line (RIL) and the Valentine Lake shear zone in the Central Gold Belt of Newfoundland. The Company’s prospective holdings extend for more than 100 km along the Central Gold Belt; a northeast trending structural zone extending across Newfoundland. 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.
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 testing the correlation between 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 throughout the C2C property holdings.
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. 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 a dramatic increase in exploration activity giving rise to a modern-day gold rush throughout.
C2C Gold Corp.
C2C 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 more than 1,154 km² 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.
USSilverBug
13 years ago
Taku Provides Exploration Update on Rosebute Property in Yukon
2/2/2012 - Marketwire via Comtex
Taku Gold Corp. (the "Company") (TSX VENTURE: TAK) announces the 2012 proposed exploration program on the Rosebute property in Yukon.
The 544-claim (11,260-hectare) Rosebute property is located approximately 55km due south of Dawson City, Yukon and was acquired in March 2010 from well-known Yukon prospector Shawn Ryan. In 2010, 5,158 soil samples were collected on two grids based on 50m sample intervals on lines spaced approximately 100m apart, and a 1,107km airborne radiometric and magnetic geophysical survey was flown. Excellent geochemical results were obtained from the first grid located in the northwestern part of the property and an anomalous gold area approximately 189ha in size was identified (the "Norwest" zone).
In 2011, detailed geochemical sampling was done over the Norwest zone to provide a sample density of 50m sample stations on lines spaced at 50m apart. Results from the 457 samples collected in 2011 are well above the 2010 results and three distinct gold anomalies are delineated. The first anomaly is located in the northern part of the gridded area. It is well defined over an east trending length of 900m and shows maximum values up to 212 parts per billion gold (ppb Au) or 0.2 grams per tonne gold (gpt Au). The second anomaly is located in the southern part of the gridded area. It is well defined over an east trending length of 500m and shows maximum values up to 1,334ppb Au or 1.3gpt Au. The third anomaly is located in the eastern part of the gridded area. It is well defined over an east trending length of 450m and shows maximum values up to 254ppb Au or 0.3gpt Au. The first and third anomalies line up in a west to east trend and may in fact identify one gold-bearing zone up to 1.8km long. More work will have to be done to establish if this is a valid interpretation.
In addition to the detailed sampling on the Norwest zone, 2,259 reconnaissance ridge and spur samples were taken over the entire Property in 2011. A gold value of 3.4gpt Au was returned from a sample collected approximately 3km north of the Norwest zone. A small cluster of anomalous gold results was also identified 2.4 km southeast of the Norwest zone with maximum values up to 491ppb Au or 0.5gpt Au.
For 2012, Taku will be concentrating on the Norwest zone. It is anticipated that the three gold-rich areas within the Norwest zone will be mapped, trenched and sampled, and then drilled. Detailed soil sampling and possibly trenching will also be undertaken at the two new zones mentioned above. A preliminary budget of $600,000 has been proposed for the project and it is expected that work will begin in early June 2012.
Investors are invited to visit http://www.takugold.com/whitegold_rosebute_property.html to view updated maps for the Rosebute Project.
All analytical results mentioned in this release were determined by Acme Analytical Laboratories Ltd. ("Acme") in Vancouver, British Columbia. Acme is accredited under ISO 9001. Soil samples were prepared by drying and sieving 100g to -80 mesh, and then analyzed for 36 elements (including gold) by 15 gram Aqua Regia digestion, ICP-MS finish. Mark Fekete, P.Geo is the designated "qualified person" as defined in Section 1.2 in and for the purposes of National Instrument 43-101 that reviewed the technical content of this release.
On Behalf of the Board, Taku Gold Corp.
Zachery Dingsdale, CEO and President
Statements in this release that are forward-looking are subject to various risks and uncertainties as identified above and in the Company's periodic filings with the British Columbia Securities Commission and the U.S. Securities Exchange Commission. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not intend to update this information and disclaims any legal liability to the contrary.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Contacts:
Taku Gold Corp.
Zachery Dingsdale
CEO and President
604.642.0115 or Toll Free: 866.345.0115
604.642.0116 (FAX)
info@takugold.com
www.takugold.com
Follow Taku Gold On:
Facebook: http://www.facebook.com/takugold
Twitter: http://twitter.com/takugoldcorp
YouTube: http://www.youtube.com/user/TakuGold
Flickr: http://www.flickr.com/photos/takugold/
SOURCE: Taku Gold Corp.
mailto:info@takugold.com
http://www.takugold.com
http://www.facebook.com/takugold
http://twitter.com/takugoldcorp
http://www.youtube.com/user/TakuGold
http://www.flickr.com/photos/takugold/
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