CTCGF - C2C Gold Acquires Codroy Uranium Project
(TheNewswire)
Vancouver, British Columbia – TheNewswire - August 21, 2023: C2C Gold Corp. (CSE:CTOC) (the“ Company ” or “ C2C” ) announced today the staking of two new uranium bearing mineral licences inthe Codroy Valley of southwest Newfoundland, known as the CodroyUranium Project. The licences, covering an area of 2,825 ha, wereselected due to presence of seven documented uranium occurrenceslocated along a major radiometric high. The Codroy Uranium Property isapproximately 50 km north of Port aux Basque, Newfoundland. Thisacquisition draws on the expertise of C2C’s management team inexploration for sandstone-hosted uranium deposits in the westernUnited States.
The style of low-grade uranium mineralisation withinextensive, organic-rich siliciclastic rocks is similar tosandstone-hosted uranium districts in the western United States. These districts have produced significant amounts of uranium fromconventional and low-impact, low-cost in-Situ Recovery (ISR)operations. The potential for ISR amenable uranium mineralisationhas never been evaluated in the Bay St. George Sub-basin. Based onregional maps the widespread nature of the noted uranium occurrencesand the volume of potential host-rock is significant in this area andcould represent an economic uranium target. ISR is a globally acceptedextraction process to remove uranium with wellfield technology,eliminating the need for open pit or underground mining.
Chris Huggins, Chief Executive Officer of C2C Gold,stated: “The extensive nature of the prospective stratigraphy in theCodroy Valley is impressive. Anomalous uranium has been identifiedduring previous exploration programs but has never been properlyevaluated. The near surface nature of the prospective host-rocks andshallow water-table suggest that uranium deposited in thicksedimentary sequences may be amenable to In-situ recovery* insouthwestern Newfoundland. With the nuclear renaissance well underway,C2C is excited to evaluate the potential of our first uraniumproject.”
The Codroy Uranium Project
Previous work in the area was focused primarily onred-bed copper potential of the Bay St. George Sub-basin, but alsoidentified a strong correlation between high-grade copper and stronglyanomalous uranium coincident with an airborne radiometric anomalywithin the Codroy Uranium Property. Shell Oil geologists noted“P otential for sedimentary hosted uraniumdeposits in the Carboniferous of Newfoundlandsimilar to the Pugwork - Tatamagouche typeoccurrences in Nova Scotia . Noting a closeassociation of limestone or limy beds with most of the Codroy Valleyuranium mineralization and hypothesized that the fluids, from whichthe limestones were precipitated, were uranium enriched and acted as asource of uranium” 1 . The uranium mineralization occurs in athick sequence of sandstones, siltstones and conglomerates with thebest anomalies associated with carbonaceous material. Carbonaceous rock chip values from the prospect known asCodroy 4 returned values to 2.2% uranium. This prospect has yet to bedrill tested. Some of the better historic rock chip samples fromsurface mineralisation at the Limestone, Seythestone and Stephen’sBrook locations within the limits of the property returned coppervalues of 0.5% to a maximum of 1.6% with accompanying uranium valuesfrom 26 to 93 ppm.
Figure 1: Showing C2C staked mineral licenses withUranium and Copper occurrences.
At the Codroy Valley 6 prospect significant copper(Cu), zinc (Zn) and uranium (U) values were reported from oxidizedgrey siltstone, sandstone and conglomerate:
Results of geochemical analyses of rock samples fromthe Codroy 6 prospect:
| Sample # |
| Cu (ppm) |
| Pb (ppm) |
| Zn (ppm) |
| U (ppm) |
| 152 |
| 7000 |
| 330 |
| 2940 |
| 20.0 |
| 153 |
| >20,000 |
| 520 |
| 2680 |
| 435.0 |
| 154 |
| 10,800 |
| 580 |
| 2420 |
| 78.0 |
| 3522 |
| >20,000 (4%) |
| 520 |
| 5800 |
| 400.00 |
| Sherwin, 1981). |
Two limited phases of drilling have been completed inthe area. Shell drilled two holes within the property in 1981 andCornerstone Resources drilled 5 holes within the property in 2006. These widely spaced reconnaissance holes, several kilometers apartfrom one another, do not represent an adequate test of the sedimentaryformations hosting the anomalous metal values.
The region is underlain by the Carboniferous-agesub-aerial sedimentary rocks that fill the Bay St. George Sub-basin. The area was originally explored forsediment-hosted copper mineralization. However, the early regionalevaluation programs highlighted anomalous uranium concentrations oftenaccompany the copper mineralisation in outcrop, drill-core, and streamsediment samples. C2C. intends to evaluate the potential for economicuranium mineralisation in the area and its potential amenability toIn-Situ Recovery (ISR) techniques.
The Codroy Uranium Property is underlain by Bay St.George sub-basin, the northeast extension of the regional-scaleMaritime Basin. The 10 km thick succession Carboniferous-agesedimentary rocks form the Anguille, Codroy, and Barachois groups. Themost prospective portion of the stratigraphy is the Codroy Group arethe Mollichignick Member of the Robinsons River, Woody Cape, andFriars Cove formations. The Mollichignick Member is a 2,300 m thicksuccession of red siltstone and red to grey micaceous sandstone. Thesuccession is interpreted to have been deposited as a basin-fillsequences with coarsening-up sequences at the base and braided streamand floodplain deposits in the upper portions of the member.Mineralisation within the succession occurs as disseminatedchalcocite, chalcopyrite, pyrite, and malachite with yet to beidentified uranium mineral(s). Mineralisation typically forms withinreduced portions of the grey, micaceous sandstone beds, which commonlycontain woody trash. Previous work in the area concentrated on thepotential for copper mineralization in the Mollichignick Member butnoted that anomalous uranium has a strong correlation with copper inrock samples. The known mineralised outcrops occur within a 15-20km 2 airborne radiometric anomaly.
Technical information disclosed in this news releasehas been reviewed and approved by Chris Buchanan, P.Geo., ChiefGeologist for C2C Gold Corp., and Qualified Person as defined byNational Instrument 43-101.
About Us
C2C is a mineral exploration company with a pipeline ofprojects from early exploration to drill -ready in Canada’sNewfoundland and Yukon.
Chris Huggins, Chief Executive Officer
604-968-4844
1 Sherwin,J. G., 1981: Report on geological mapping, prospecting and geochemicalsampling work for licence 1245 on claim block 1511 in the Codroy area,Newfoundland. Bondar-Clegg and Company Limited, Northgate ExplorationLimited, and Shell Canada Resources Limited Unpublished report [GSB#011O/14/0102]
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