VANCOUVER, B.C. – Trans Canada Gold Corp. (TSX-V: TTG) (“Trans Canada” or the “Company”) is pleased to announce that the Company has completed a regional helicopter-borne Heli-GT Triaxial Magnetic Gradiometer Survey on the Crippleback Lake Gold Project situated 45 km south of Grand Falls-Windsor, in central Newfoundland under ideal flying and weather conditions. The geophysical survey consisted of 579-line kilometers with traverse lines flown at 75-meter spacings and control lines flown at 1250-meter line spacings directly over the Crippleback Lake Gold Project claim-block, which lies directly along the Cape Ray Fault/Shear Zone. The Heli-Gt Magnetic Gradiometer Survey is considered one of the exploration industry’s, finest state-of -the-art, deep penetrating airborne tools used to enhance gold exploration. The current Airborne survey completed will be a critical tool identifying structural lineaments along the Cape Ray shear zone, necessary in the discovery of high grade-gold deposits, and important in locating hidden base metal targets hidden in the structurally advanced Newfoundland geological environment.
Commented Tim Coupland, “We had ideal weather conditions and we are moving quickly refining all of airborne data and our recently identified gold drill targets. We will be utilizing our rock and soil sampling accompanied by the Magnetic Survey. The newly acquired datasets from the airborne survey will greatly assist the Company in identifying and refining our existing gold targets already identified on the property, and greatly assist the Company in additional target generation prior to proceeding to drilling gold targets.”
NEWFOUNLDAND DRILL PERMITS- APPROVAL PENDING
The Company has submitted, and is currently waiting for formal drilling application approvals from the Government of Newfoundland and Labrador, for the Crippleback Lake Gold block of gold claims in Central Newfoundland. Our seasoned Technical Advisory Team of highly experienced gold experts and geoscientists are preparing the selected target areas for drilling. The Crippleback Lake Gold Project is an advanced gold exploration opportunity, and we anticipate that work performed during the summer season will generate additional gold targets for the project while advancing the Gold and Base metal Project. The Company is rapidly advancing the Crippleback Lake Gold Project, which is ideally situated along the Cape Ray Fault/ Shear zone, which hosts the Marathon Gold’s Valentine Lake Gold deposit, which is anticipated to be Atlantic Canada’s largest gold mining operation, and Sokomon’s 100% wholly owned Moosehead gold discovery, also strategically located in Newfoundland’s “Corridor of Gold”. The Company is expected to be performing detailed exploration and precise drilling between Marathon
Gold’s Valentine Lake gold deposit and shear zone and Sokoman’s 100% wholly owned Moosehead Gold discovery” shortly.
EXPLORATION PERMITS GRANTED FROM THE GOVERNMENT OF NEWFOUNLDAND AND LABRADOR– CRIPPLEBACK LAKE GOLD PROJECT
The Company has received the necessary permit approval for Planned Mineral Exploration Work from the Government of Newfoundland and Labrador, for Trans Canada Gold’s Crippleback Lake Gold property situated in the “Corridor of Gold”, in Central Newfoundland. The newly issued exploration permit now grants permission to follow up on gold targets recently identified by Sokoman Minerals (TSXV-SIC), which will quickly bring the project to the drill ready stage. The exploration permit allows for prospecting, geochemical sampling, airborne geophysics and ground geophysics. In addition to Exploration permitting, drilling permits were recently submitted on June 17, 2021 for diamond drilling and the use of heavy equipment, once gold targets have been fully defined on the property in the coming months. The Company is positioned to move quickly, and to advance the gold potential of this centrally positioned gold property, which lies directly over the Cape Ray Faulting system, the same faulting system, which also hosts the Marathon Valentine Lake Gold deposit and the Sokoman Minerals Moosehead 100% wholly-owned Gold discovery located in Central Newfoundland’s Corridor of Gold.
CRIPPLEBACK LAKE GOLD PROJECT- CORRIDOR OF GOLD, CENTRAL NEWFOUNDLAND – HIGHLIGHTS:
- 121 mineral claims (3025 ha or 7475 acre) fully road accessible from the TransCanada Highway with numerous secondary logging roads internal to the claims.
- Covers a 13-kilometre strike length of the gold rich Valentine Lake Structural/Shear Zone midway between Marathon Gold’s Valentine Lake Gold Deposit, which recently secured a $185-million US Financing facility, and Sokoman Minerals 100% wholly-owned high-grade gold Moosehead Discovery.
- Robust Gold in lake sediment and till samples, with multiple till samples exhibiting delicate (proximal to source) gold grains as well as angular float samples assaying up to 1.7 g/t gold
- All previous exploration efforts focused primarily on base metals
- Exploration Permits have been fully approved by the Government of Newfoundland and Labrador
- Drilling Permits have been submitted on June 17, 2021. Approval pending.
- Appoints SHA Geophysics for a Heli-GT Magnetic Survey on the Crippleback Lake Claim block.
- Airborne Heli-GT Magnetic Survey performed by SHA Geophysics has been completed
CRIPPLEBACK LAKE GOLD PROJECT- CORRIDOR OF GOLD, CENTRAL NEWFOUNDLAND
The Crippleback Lake Gold Project covers the northeastern extension of the regional scale Cape Ray /Valentine Lake fault/Shear zone and is situated in the same geological units that host high grade gold mineralization at Marathon’s Gold’s Valentine Lake gold deposit which is anticipated to be Atlantic Canada’s largest gold mining operation. The property is situated in the gold prolific and rapidly emerging Corridor of gold in the Central Newfoundland Gold Belt, and is ideally situated on trend with Sokoman’s flagship Moosehead High-Grade Gold discovery which is now in the midst of Phase 6 of a 50,000-metre (Phase 6) drill program. The Crippleback Lake Gold property is located near the Trans-Canada highway in north-central Newfoundland, is easily accessible by a network of secondary logging roads and is only a short drive from assaying and diamond drilling services in Springdale, Newfoundland.
TRANS CANADA GOLD PROJECT– THE DINORWIC GOLD PROPERTY
The Trans-Canada Gold Property consists of 741 non-surveyed contiguous mineral cell claims totaling 14,880 hectares located within the Kenora Mining Division of Ontario. The property is located within the Wabigoon Greenstone Belt, which also contains the Thunder Lake Gold deposit and the Goldlund Gold Deposit. The Property contains a number of large shear zones containing quartz carbonate veins, pyrite and arsenopyrite, underlain by mafic volcanics with felsic volcanics in the south. There is a large regional scale iron carbonate alteration within the property, which is considered to be similar to that of the Red Lake Mining Camp. The regional scale Carbonate alteration within the property associated with shear zones within iron-tholeiite are prime targets for gold exploration. The property has excellent access, with the Trans-Canada highway bisecting multiple high priority targets in a north-south direction, as well as close proximity to the large community of Dryden, Ontario. The property has access to first class infrastructure, with close proximity to a number of rail corridors and power lines. A number of gold exploration targets have been identified within the property based on their association with regional alteration, known gold showings, shear zones, complex patterns and offsets in the regional magnetic map as well as spatial association with regional structures that has the potential to be well endowed with gold mineralization.
Colin Bowdidge, Ph.D., P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved of the technical information disclosed in the news release.
ABOUT TRANS CANADA GOLD CORP. – GOLD MINERAL EXPLORATION/ OIL AND GAS PRODUCTION
The Company is a Canadian Gold and Mineral Exploration and Oil & Gas Resource Development Company that is currently focused on developing its’ large District Scale Gold exploration projects in Northwestern Ontario and Newfoundland, increasing its production capabilities, and obtaining potential future oil production revenues. The Company identifies, acquires and finances the acquisition of large prospective gold exploration properties and the ongoing development of mining and oil and gas assets primarily situated in Canada, a time-honored safe mineral exploration jurisdiction. The Company has now acquired two large District Scale gold mineral exploration property opportunities in Ontario, along with the Crippleback Lake Gold property situated in the Corridor of Gold in Central Newfoundland, and continues to identify low risk exploration opportunities through selective acquisitions and development of mining exploration assets situated in these favorable resource jurisdictions. The Company has qualified Senior exploration management and Geological Mining teams of professionals, seasoned in exploration production, field exploration and drilling. The Company has the necessary manpower in place to develop its natural resource properties and manage its production properties. The Company is committed to minimizing risk through selective property acquisitions, and responsible exploration and development of mining, and petroleum and natural gas resource assets.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Coupland, President and CEO
Trans Canada Gold Corp.
Tel: (604) 681-3131
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