C2C Gold Expands Newfoundland Holdings; Acquires Properties With Historical Gold Occurrences

VANCOUVER, British Columbia, June 16, 2021 (GLOBE NEWSWIRE) -- C2C Gold Corp. (CSE: CTOC) (the “Company” or “C2C”) is pleased to announce the acquisition of a 100% interest in the Rocky Pond and Burnt Lake gold properties located 70 km northeast of the Company’s Badger, Millertown, and Barrens Lake projects in the Central Newfoundland Gold Belt. Historical quartz vein samples from the Rocky Pond Gold occurrence contained up to 51.8 g/t gold, with abundant arsenic. Rocky Pond is adjacent to and on trend with New Found Gold’s land package hosting the Queensway discovery.

Rocky Pond and Burnt Lake Acquisition Highlights:

• 100% interest in three mineral licenses (27 claims) covering the Rocky Pond gold occurrence;
• Rocky Pond has similar mineralization to New Found Gold’s Queensway discovery, including quartz veins with stibnite, arsenopyrite, pyrite, and up to 51.8 g/t gold in historical rock samples.
• 100% interest in one mineral license (4 claims) covering the Burnt Lake gold occurrence with up to 270 ppb gold from quartz veins.
  

For more information and to view C2C project maps including the newly acquired properties visit: https://bit.ly/3xrGXTz

The Rocky Pond and Burnt Lake gold occurrences are targeted for surface exploration in C2C’s 2021 field program. Acquisition of the Rocky Pond and Burnt Lake mineral licenses increases the Company’s land position in the Central Newfoundland Gold Belt to 4,664 claims (1,166 sq km).

Rocky Pond Project
The Rocky Pond property is easily accessible via the Trans Canada Highway and forest access roads. The property has seen sparse exploration since the discovery in 1998 of two structurally controlled quartz veins containing stibnite, pyrite, and arsenopyrite. Rock samples collected at this time returned up to 52.8 g/t gold and abundant arsenic. It was reported that the veins may continue for at least 100 m along strike.

Rubicon Minerals Corporation conducted a short program of prospecting, rock sampling and trenching in 2003, and exposed a quartz vein up to 1 m wide containing arsenopyrite clots and local pyrite. Rock samples from outcrop returned 74 and 110 ppb gold and 535 and 507 ppm arsenic. The project is underlain by Ordovician siliciclastic rocks.

C2C plans to integrate the vendor’s data into the company’s regional dataset and conduct an exploration program as part of its 2021 exploration season.

Burnt Lake Project
The Burnt Lake property is located 35 km north of the town of Gander. A forest access road provides entry to the property, which is underlain by Ordovician siliciclastic rocks. According to historical records grab rock samples from quartz veins within a gabbro sill intruding black shale returned up to 270 ppb gold. Assessment report records also document the recovery of numerous fine grained delicate gold grains from a till sample. The till sample was collected from the trench that exposed the mineralized quartz vein; the exposed mineralization was not thought to be the source of the gold.