- C2C Gold (CTOC) has acquired the Jumpers Brook Gold Property in the Central Newfoundland Gold Belt
- The company will pay C$65,000 in cash and issue 600,000 common shares for the property
- The Jumpers Brook Gold Property covers 5.5 sq. km and is host to three mineral showings, one of which yielded 3.3 g/t gold in historical rock samples
- C2C Gold is a Canadian mineral exploration company focused on projects in Newfoundland and the Yukon
- C2C Gold (CTOC) is up by 11.90 per cent and is currently trading at $0.47 per share
C2C Gold (CTOC) has acquired the Jumpers Brook Gold Property in the Central Newfoundland Gold Belt.
C2C will pay C$65,000 in cash and issue 600,000 common shares for the property.
The vendor will retain a 2 per cent net smelter return royalty, of which C2C can purchase 1 per cent at any time for $1,000,000.
The Jumpers Brook Gold Property covers 5.5 sq. km and is host to three documented mineral showings:
- The Sugar Mountain gold-arsenic occurrence yielded up to 3.3 g/t gold in historical rock samples
- Jumpers Brook #1 mineral occurrence consists of pyrite and arsenopyrite veinlets in sandstone
- Jumpers Brook #2 pyrite-antimony mineral occurrence has returned up to 16.6 ppm antimony and 1.1 per cent arsenic in historical rock samples
Sokoman Minerals (SIC) is drilling the adjacent Moosehead Gold Project, which has intersected several high-grade gold zones, including 11.90 m at 44.96 g/t gold.
C2C is currently designing a Phase One exploration program for the Jumpers Brook Property.
Post acquisition, the company’s total mineral license holdings in the Central Newfoundland Gold Belt will rise to 4,639 claims or 1,160 sq. km.
Lori Walton, C2C’s CEO, commented,
“We are pleased to add the Jumpers Brook project including the Sugar Mountain gold-arsenic occurrence to our property portfolio in Central Newfoundland. Jumpers Brook is on the same structural trend as Marathon’s Valentine gold deposit and Sokoman’s Moosehead Project. Situated immediately to the Northeast of and along strike with Moosehead, Jumpers Brook is a compelling gold target.”
C2C Gold is a Canadian mineral exploration company focused on projects in Newfoundland and the Yukon.
C2C Gold (CTOC) is up by 11.90 per cent and is currently trading at $0.47 per share as of 11:56 am ET.