C2C Gold Corp [CTOC-CSE] on Monday announced the appointment of Christopher Huggins as CEO and director, effective immediately. The company said he brings a wealth of experience and knowledge of the Newfoundland and Labrador region where the company holds a basket of exploration projects.
Huggins has over 25 years of experience working with mining, technology, and capital equipment companies in management, business development and operating roles. His career in mining includes a spell working as a regional geologist with Homestake Mining around the Eskay Creek, Snip Mine, Stewart and Dease Lake camps in British Columbia. Over the past decade, he developed and delivered innovative capital equipment and financial solutions for surface and underground mining operations across the Northwest Territories and Yukon, managing accounts for Finning Canada.
Huggins replaces mining analyst Peter Bures who had been CEO since June 2022, when he took over from Janet Sheriff, who in turn had stepped into the role on an interim basis.
The shares were recently priced at $0.03, but did not trade early Monday..
In a press release on May 11, 2023, the company said financier Eric Sprott holds approximately 10.3% of C2C’s common shares.
C2C Gold is a mineral exploration company with a focus on the acquisition and development of mineral projects in Newfoundland. The company holds the Millertown, Badger and Barren Lake projects, which are all located in the Central Newfoundland Gold Belt, where C2C previously held 4,419 claims covering a 100- kilometre-long structural trend.
The company has said the acquisition of this ground by staking was part of a strategic initiative to grow C2C into a leading company in Newfoundland’s rapidly emerging gold exploration boom.
The company also holds one of the largest land packages, with several prominent projects, within the prolific White Gold and Klondike districts of the Canadian Yukon
C2C previously held an option to acquire a 70% interest in a basket of claims in the central Newfoundland gold belt, a move that added to its existing substantial holdings in the region.
The option agreement with Buchans Resources Ltd. involved 364 mineral claims (91 square kilometres) covering the Lake Douglas and South Tally properties. Both cover key fault structures considered prospective for orogenic-style gold mineralization.
The Douglas Lake property covers the on-strike trend of the gold-bearing structures that host Marathon Gold Corp.’s [MOZ-TSX, OTC-MGDPF] Valentine project, located 15 kilometres on strike to the southwest.
The South Tally property is contiguous with the southeast boundary of C2C’s Barrens Lake property.
The option deal with Buchans was part of an initial option allowing C2C to earn and acquire a 51% interest in the properties and a second option, in the event that Buchans elects not to participate in the joint venture, to earn and acquire an additional 19% stake in the properties.
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