We have used the IRAM 30m telescope to map the C
18O(1->0) and (2->1) transitions in a region of 0.5x0.5pc
2 (200''x200'') in the nearby (460pc distance) molecular cloud IC5146 at resolutions of down to 0.025pc. Additionally, we have observed the corresponding C
17O transitions towards 24 positions in the central region of the cloud as a check on optical depth effects. On the basis of these observations, we conclude that the C
18O emission observed by us is optically thin and that the observed C
18O(2->1)/(1->0) ratio is consistent with gas at 10 K and density in the range 10
4 to 10
5 cm
–3. We have estimated C
18O column densities over the region mapped, using an LVG program to correct for excitation effects, and have compared them, at the same spatial resolution of 30'', with the dust extinction derived from the NIR images of Lada et al. (
1998ApJ...495..871L) From this, we find a roughly constant, though with considerable dispersion, ratio of C
18O column density to visual extinction (A
V) in directions with A
V less than ∼10 magnitudes. The ratio is compatible with previous determinations of the [C
18O]/[H
2] abundance ratio, e.g. 1.7*10
–7 as obtained by Frerking et al. (1982) At extinctions higher than ∼10 magnitudes, however, there is a systematic fall-off in the ratio N(C
18O)/A
V which we attribute to depletion of C
18O onto dust ice mantles within the dense, n>10
4cm
–3, and cold, T
dust≲15K, T
gas∼10K, core interior. This fall-off is also seen, though with less statistical significance, in our observed dependence of N(C
17O)/A
V with A
V. We thus think it unlikely that optical depth effects are influencing our conclusions. We have additionally made pointed C
18O(1->0) and (2->1) observations towards 94 background stars with extinction greater than 10 magnitudes from the study of Lada et al. (
1994ApJ...429..694L) These in general confirm our mapping results.