VANCOUVER, British Columbia, July 14, 2021 (GLOBE NEWSWIRE) — C2C Gold Corp. (CSE:CTOC; OTCQB:CTCGF) (the “Company” or “C2C”) is pleased to announce the completion of a comprehensive study commissioned by C2C Gold: “Structural Geology Study of the Central Newfoundland Gold Belt for the Badger, Millertown, and Barrens Lake Properties.” The purpose of this important study, completed by consultancy Fault Rocks Inc., was to better understand the key structural elements involved in gold mineralization to implement detailed geological mapping and exploration targeting and make recommendations for focused exploration work on high priority targets.
Highlights of the Structural Geology Study:
- Geophysical interpretation of existing data shows strong correlation between till anomalies and underlying faulted and folded rocks;
- Gold occurrences in the general area are characterized by a black shale that acted as a cap rock trapping gold bearing fluids beneath the crest of a tight fold;
- This same black shale extends across the C2C project area as an integral component of a structurally prepared fold belt with numerous areas of extension (open space for gold deposition) and fold crests (structural-stratigraphic trap for gold bearing fluids);
- The Company’s Badger, Millertown, and Barrens Lake properties are ideally situated for the formation of orogenic gold deposits;
- Five target zones have been identified as areas of interest for detailed field study.
To view maps of the Badger, Millertown, and Barrens Lake properties and to view selected figures from the Structural Geology Study please visit: https://bit.ly/36tIvkt.
Lori Walton, C2C Gold Chief Executive Officer commented: “C2C Gold has assembled a district scale land package comprising 1,170 sq km that is underexplored for gold mineralization. This work by Fault Rocks Inc. leverages existing historical airborne geophysical surveys over C2C’s land holdings. I would like to thank our technical advisor, Shawn Ryan, and our expert team of geological consultants and contractors who contributed to the technical sessions.”
Dr. Richard Goldfarb, Director of C2C Gold commented: “The structural geometry that is well-defined by the newly detailed magnetic data along the length of the C2C Gold properties, coupled with associated lithologic contrasts and geochemical anomalies, suggest a highly prospective environment for the discovery of orogenic gold mineralization. Tight anticlinal folds that become locked-up have been widely demonstrated to be sites of faulting and related deformation that localize orogenic gold deposits in fold-and-fault belts throughout the world. The Bendigo-Ballarat region of Australia is the best described example of such world-class fold-hosted gold ores.”
Summary of the Structural Geology Study
A comprehensive structural study using existing geophysical, geological, and geochemical data was completed for central Newfoundland, including rocks that underlie C2C’s Badger, Millertown, and Barrens Lake properties. The study was conducted by Fault Rocks Inc. of Vancouver, a structural geology consultancy with a particular expertise in interpretation of geophysical data. Most significantly, results show important targeting relationships between geochemical till anomalies and newly defined favorable structural environments for the localization of orogenic gold deposits.
In the region between the Red Indian Line and the Valentine Lake Shear Zone, aeromagnetic data are interpreted to indicate a 50-km-long, NNE-trending system of tight regional folds, which is oblique to thrust faults cutting through the Millertown and Barrens Lake areas. Anomalous Au, As, and (or) Sb values in till samples correlate with the apparent major fold axes and shearing along the limbs of a regional anticlinal fold. Proximal to the Company’s Badger and Millertown properties is a known mineralized gold zone, with a black shale present as a cap rock trapping gold bearing fluids beneath at the crest of folds. This black shale unit can be traced throughout a number of tight fold noses across the width of the Badger area. Finally, evaluation of the concealed structural architecture of the entire Dunnage Zone region between the faults shows progressive and extended duration faulting suggestive of large-scale rotational changes in the regional stress field that would have enhanced gold-depositing dilational events along these folds.
Tight anticlinal folds that become locked-up have been widely demonstrated to be sites of faulting that localize orogenic gold deposits in fold-and-fault belts throughout the world. The Bendigo-Ballarat region of Australia is the best described example of such world-class fold-hosted gold ores. The structural geometry that this new study defines along the length of the C2C properties, coupled with associated lithologic contrasts and geochemical anomalies, suggest a highly prospective environment for the discovery of orogenic gold ores. In particular, the tight anticlinal folds defining the geology of the C2C properties clearly intersect splays and dilational structure along the bounding crustal-scale faults, thus defining a setting amenable to highly permeable fluid pathways and gold deposition. Ongoing C2C field activities are now prioritizing targets based upon these new findings.
C2C Gold – Newfoundland Properties
C2C Gold’s project areas cover more than 1,170 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.
Technical information in this news release has been approved by Lori Walton, CEO and Director and a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
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 1,170 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.
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.