(via TheNewswire)
Golden Nugget Project Highlights
The Big Oz showing – 29.2 g/t gold over 2.5m, including 87.0 g/t gold over 0.8m, and 27.9 g/t gold over 1.22m;
The Gina showing – 49.0 g/t gold over 0.3 m, and 18.8 g/t gold over 0.3 m;
The Red Fox Showing – a visible gold discovery in a strongly altered and silicified dyke within the Dunnage Melange;
Airborne geophysics completed in 2022, with analysis reports by GoldSpot Discoveries;
Extensive prospecting, geological and structural analysis, with rock and soil sampling campaigns by prior operators have identified a number of drill ready targets, including at least five separate occurrences of visible gold.
To view C2C project maps please visit:bit.ly/3O6xtbt.
The New World Trend (NWT): This is a 15 km long structural-stratigraphic contact zone between siliciclastic turbidites (
Caradocian and Badger Group ) and the Dunnage Melange. The NWT is exposed along the southern shore ofNew World Island and in small islands within Dildo Run (see map 1). Mineralization is often found as arsenopyrite, pyrite, and gold, related to alteration of felsic dykes, sedimentary and mafic rocks. Also, pyrite, arsenopyrite, and visible gold are found within quartz-carbonate veins, which cut sedimentary and mafic rocks.The Dunnage-Coaker Corridor (DCC): This is a 2 km long, shallow ocean channel between
Coaker Island and northernDunnage Island which exposes rocks of the Coaker Porphyry and Dunnage Mélange (see map 1). Gold is often found associated with pervasive alteration of the Coaker Porphyry. Mineralization includes pyrite, arsenopyrite, stibnite, chalcopyrite and gold.
Terms of the Agreement
Pay to the Optionor an aggregate of
$50,000 on or before the first anniversary of the date of this Agreement;$70,000 on or before the second anniversary of the date of this Agreement;$90,000 on or before the third anniversary of the date of this Agreement; and$120,000 on or before the fourth anniversary of the date of this Agreement.
Issuing and delivering to the Optionor an aggregate of 9,000,000 Shares, as follows:
2,000,000 Shares within five business days after the date of CSE acceptance of this Agreement;
an additional 1,000,000 Shares (with a maximum capitalization value of
$300,000 ) on or before the first anniversary date of this Agreement;An additional 1,500,000 Shares (with a maximum capitalization value of
$750,000 ) on or before the second anniversary date of this Agreement;An additional 2,000,000 Shares (with a maximum capitalization value of
$1,500,000 ) on or before the third anniversary date of this Agreement; andAn additional 2,500,000 Shares (with a maximum capitalization value of
$2,500,000 ) on or before the fourth anniversary date of this Agreement.
Technical information disclosed in this news release has been reviewed and approved by
About
Foradditional information:
604-968-4844
chuggins@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 forthe adequacy oraccuracy of thisrelease.
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. 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.
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