C2C Gold Reports Initial Results of High Grade Anomalies and Drill-Ready Gold Targets at the Millertown Property, Newfoundland

Rhea-AI Summary

C2C Gold Corp. (OTCQB: CTCGF) announced the generation of multiple drill-ready gold targets from gold-in-soil anomalies at its Millertown project in Newfoundland. Out of approximately 12,500 soil samples collected, about 10,000 assays have been received, revealing significant gold values, including three samples over 300 ppb. The firm is actively exploring a 1,261 km² land package, with ongoing geological mapping and further soil sampling planned. CEO Lori Walton emphasized the importance of these findings for advancing exploration in the region.

Positive

• Identification of drill-ready gold targets increases potential for successful exploration.
• Significant gold values in soil samples include several exceeding 300 ppb.
• Ongoing exploration activities across a large land package of 1,261 km².

Negative

• None.

VANCOUVER, British Columbia, Nov. 10, 2021 (GLOBE NEWSWIRE) -- C2C Gold Corp. (CSE: CTOC; OTCQB:CTCGF) (the “Company” or “C2C”) is pleased to announce the generation of multiple drill-ready gold targets (see map) from numerous strong gold-in-soil anomalies located at its Millertown project in the Central Newfoundland Gold Belt. Four of seven grids in total are herein reported, representing ~9,000 of the ~12,000 soil samples gathered at the Millertown project. Ten distinct gold anomalies measuring from 0.9 km to 1.7 km in length along strike have been identified within the four grids.

To view maps of the Millertown soil sample results and drill-ready targets please visit: https://bit.ly/307GVEE

Lori Walton, Chief Executive Officer of C2C Gold, states “As with our Barrens Lake results, we are very pleased with this first set of soil samples from the Millertown project and the identification of our first drill-ready target. This first pass soil sample collection program is important in this underexplored region and has provided numerous high grade gold anomalies across the Millertown project. This priority work has enabled C2C to generate drill-ready targets to advance our exploration programs in the Central Newfoundland Gold Belt.”

Exploration activity continues across the Company’s 1,261 km² land package. Soil crews are now working on the northern portion of the Millertown property. Additional soil sample results from the central Millertown property area and the Badger property are pending. GT Probe sampling is complete at the Barrens Lake and Millertown properties and deep till samples from this program have been sent for analysis. A LIDAR survey over Badger, Millertown, Barrens Lake, South Tally, and Lake Douglas is now complete with an airborne geophysical survey ongoing. Geological mapping, sampling, and prospecting activities are underway at the Lake Douglas property, part of C2C’s joint venture with Buchans Resources Limited.

In addition to activity in central Newfoundland, C2C field crews have also completed the initial site visit at the Company’s 100% owned Rocky Pond property in northeast Newfoundland. Rocky Pond is contiguous with the northern boundary of New Found Gold’s Queensway Property. The property is transected by the NNE-trending Joe Batts Pond fault, identified as an important structural control on the localization of gold mineralization within the Davidsville Group. The Rocky Pond property is easily accessed via Route 330 (Gander Bay Road) north of Gander and has seen sparse exploration since the 1998 discovery of structurally controlled quartz veins containing stibnite, pyrite, and arsenopyrite.

Millertown Soil Sampling
At the Millertown property, a total of ~12,500 soil samples were collected over seven grids with line spacing ranging from 100 m to 300 m and samples collected every 25 m.   Approximately 10,000 assays have been received to date; with four of the grids, A, D, E, and F, herein reported. Gold values in soil samples include three samples assaying greater than 300 ppb gold and 111 samples assaying greater than 19.4 ppb gold with 480 samples returning greater than 14.1 ppb gold. Arsenic and antimony are coincident with gold-in-soil anomalies where concentrations of these pathfinder elements are elevated.   Notably, a number of the gold anomalies defined at Millertown remain open to expansion as they trend off the edge of the sampling grids with additional soil sampling defining the limits of these open-ended anomalies.

Regional Structural Geology
The Millertown property is underlain by metasedimentary rocks of the Noel Paul’s Brook Group. These rocks are higher in the stratigraphy of the Victoria Lake Super Group (VLSG) than the volcanic and volcaniclastic rocks that underlay the Barrens Lake property. However, the entire VLSG experienced the same Ordovician and Silurian orogenic events and shared the same general NE structural trends. Exploration at the Barrens Lake property is focused on the complex array of faults that delineate the tectonized contact between the lower and middle stratigraphic constituents of the VLSG. At the Millertown property, faulting and quartz veins are interpreted to be associated with the fold closures delineated by a Carodocian-aged black shale marker unit similar to the geological model for the Jaclyn gold deposit to the north. The orientation pattern and distribution of the gold-in-soil anomalies delineated on grids A, D, E, and F coincides with the regional mapped extent of the shale marker unit and appears to support this exploration model at the Millertown property.

Analytical Methods and Laboratory
Soil samples are collected by GroundTruth Exploration. QA/QC procedures include inserting field duplicates every 50 samples and taking photos of the sample site. Soil samples are prepared for analysis by Eastern Analytical Ltd., based in Springdale, Newfoundland. The pulp sample is shipped to Bureau Veritas, Vancouver, British Columbia for final analysis using analytical package AQ201. All samples are subject to aqua regia digestion and ICP-ES/MS for 35 elements.

C2C Gold Corp. gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources financial support of C2C’s 2021 exploration program on the Badger, Millertown, and Barrens Lake properties through the Junior Exploration Assistance Program.

Technical information disclosed in this news release has been reviewed and approved by Chris Buchanan, P.Geo., Chief Geologist for 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
(833) 888-2862
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. 

FAQ

What recent exploration findings did C2C Gold Corp. announce for the Millertown project?

C2C Gold Corp. identified multiple drill-ready gold targets based on strong gold-in-soil anomalies from their recent exploration.

How many soil samples were collected at the Millertown project by C2C Gold Corp.?

Approximately 12,500 soil samples were collected across seven grids at the Millertown project.

What significant gold values were found in the soil samples at Millertown?

The assays revealed three samples over 300 ppb gold, and 111 samples over 19.4 ppb.

What is the significance of the drill-ready targets identified by C2C Gold Corp.?

The drill-ready targets indicate potential for successful gold exploration and development in the underexplored region.

What does the exploration program entail for C2C Gold Corp. moving forward?

C2C Gold Corp. plans to continue geological mapping, further soil sampling, and other exploration activities across its extensive land holdings.