CSE: CTOC
www.c2cmetals.com
VANCOUVER, BC, April 30,
2024 /CNW/ - C2C Metals Corp. (CSE: CTOC)
(the "Company" or "C2C") today reports the
acquisition, through staking, of the Sun Uranium Project located in
easternmost Utah between the
prolific Uravan, Lisbon Valley and La Sal Uranium Districts. The
Sun Uranium Project was identified through research of proprietary
mineral databases. The Company also advises that Jason Bagg, Chief Executive Officer, will
present on Tuesday April
30th, 2024 at the Uranium, Battery and Precious
Metals Investor Conference | Virtual Investor Conferences.
Significant highlights include:
- The Sun Uranium Property consists of 120 claims, covering
almost 4 square miles, located approximately 40 miles southeast
of Moab, Utah;
- 1950's exploration at the Sun Uranium Project included 23 drill
holes by New Jersey Zinc with good grade uranium and
vanadium mineralization from the Salt Wash sandstone, the host
of most uranium production from the La
Sal and Uravan Districts;
- Historical shallow drilling was conducted adjacent to
mineralized outcrops that extend below surface. Planned exploration
will focus upon uranium exploration in the Salt Wash sandstone,
along trend, from the successful previous drilling;
- The combined Uravan District of western Colorado, the Lisbon Valley and La Sal
Districts of eastern Utah,
produced more than 150+ million pounds of uranium plus hundreds of
millions of pounds of vanadium;
- Utah is an Agreement State,
which provides state-controlled permitting as devolved from the
Nuclear Regulatory Commission resulting in expected shorter
permitting timelines.
To view maps of the Sun Uranium Project, please visit:
https://bit.ly/3UiVuxQ.
The Sun Uranium Project
The uranium-vanadium mineralization at the Sun Uranium Project
is hosted in the Salt Wash Sandstone as originally discovered in
outcrops along the erosional edge of a mesa. These Salt Wash
deposits differ from both the roll-type uranium deposits of
Wyoming and the tabular-type
deposits of New Mexico because of
the universal association of vanadium with the uranium.
A small part of the area covered by the Sun Uranium Project has
seen historical drilling and sampling, as recorded in a written
report by the New Jersey Zinc Company1, together with
other historical supporting information. Historic drilling in 1954,
of 23 holes less than 100 feet in depth, from a very small area
near the outcrop included 10 "definite ore" grade uranium
intercepts ranging from 0.15% U3O8 to 1.50%
U3O8. An early non-compliant historical
resource estimate made using data from the 23 drill holes was
32,100 lbs. U3O8, at an average grade of
0.20% U3O8.*
1 Westcoat, George J.,
Consultant, 1954, "Memorandum report on 104 Sinder and Sunset
mineral claims, Grease Wood Canyon District, San Juan County,
Utah".
|
Other historical exploration included a 243 lb. open cut bulk
sample that assayed 0.44% U3O8 and 1.08%
V2O5. A 2.5 ft long channel sample was
collected from a short adit near the open cut and provided
average weighted chemical values of 0.62 %
U3O8 and 1.25% V2O5, as
assayed by Climax Uranium Company, a major historical uranium
producer.
George Westcoat, a consultant to
New Jersey Zinc, reported: "Mineral outcrops were observed at
several places along the rims of the Morrison Formation." The
consultant further recommended: "From the small amount of
exploration done thus far, that a much more extensive exploration
program be instituted." His recommendations included further
drilling to a depth of at least 200 ft.
In addition to historic drilling and sampling, seven radiometric
anomalies were later identified within the area of the Sun Uranium
Project in an airborne radiometric survey flown by the U.S. Atomic
Energy Agency.
*A Qualified Person (as defined in NI 43-101) has not done
sufficient work to verify the historical drilling data. Additional
work, including drilling and logging will be required to confirm
and update the historical drilling and logging data, including a
review of data integrity, assumptions, parameters, methods, and
testing. Historical exploration data do not meet reporting
requirements as prescribed under NI 43-101. C2C is not treating the
historical data as current and it should not be relied
upon.
The technical content concerning the Property in this news
release was reviewed and approved by Dr. Douglas H. Underhill, CPG, Chief Geologist for
C2C Metals Corp., a Qualified Person as defined by National
Instrument 43-101.
About C2C Metals
Corp.
C2C Metals is a mineral exploration company which holds a
portfolio of uranium, gold and copper projects in the United States and Canada. C2C Metals is focused on acquiring
conventional uranium assets in the United
States while maintaining a portfolio of advanced gold and
copper assets in Canada.
www.c2cmetals.com
@C2CMetalsCorp
Neither the Canadian Securities Exchange nor its Market
Regulator (as that term is defined in policies of the Canadian
Securities Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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. Forward-looking statements in
this news release include but are not limited to: the completion of
the name change. 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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SOURCE C2C Metals Corp.