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C2C Gold Corp. Completes Barrens Lake Soil Program; Acquires Additional Barrens Lake Mineral Licenses in Newfoundland
VANCOUVER, British Columbia, July 06, 2021 (GLOBE NEWSWIRE) -- C2C Gold Corp. (CSE:CTOC; OTCQB:CTCGF) (the “Company” or “C2C”) is pleased to announce the comple
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[{"type":"text","content":" VANCOUVER, British Columbia, July 06, 2021 (GLOBE NEWSWIRE) -- C2C Gold Corp. (CSE:CTOC; OTCQB:CTCGF) (the “Company” or “C2C”) is pleased to announce the completion of the Phase One soil sampling program at its Barrens Lake property located in the Central Newfoundland Gold Belt and has now commenced work on its Millertown project. C2C also announces the acquisition of two non-contiguous infill mineral licenses (7 claims and 11 claims) situated within the Barrens Lake property area. Highlights of the new Barrens Lake area acquisitions: The two new mining licenses cover highly prospective ground in the south part of the Barrens Lake project area where the C2C field crew focused its soil sampling efforts. Soil grids were completed in the high priority Quinn Lake and Barren Lake areas where historical gold-in-till samples coincide with regional northeast trending tight folds and thrust faults. The Company now controls one of the largest mineral exploration land packages in the Central Newfoundland Gold Belt, covering a total of 1,170 sq km (4,682 claims). “We are pleased with these new acquisitions which infill key high-priority target areas within our Barrens Lake property and target a highly anomalous gold-in-till area that coincides with compelling structural features. The field season is well underway with the completion of the Phase One Barrens Lake property soil grids and the start of fieldwork on our Millertown project. We thank our field crews and local supply and service providers for their support.” said Lori Walton, Chief Executive Officer. To view maps showing the new licences please visit https://bit.ly/3pV9jT8. Also available for viewing are compilation maps of the Barrens Lake property area showing historical till sampling and drill collars overlying bedrock geology, structure, and magnetic surveys. Terms of the Agreement The Company has entered into an Agreement with the vendor for 100% ownership of the two mineral licenses in exchange for $20,000 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 $1,000,000. The purchase agreement is subject to exchange approval. Barrens Lake Soil Sampling Program A total of 2,848 soil samples were collected by locally-hired and highly trained field technicians under the superv...