Solstice begins exploration at newly optioned Red Lake project
Solstice Gold Corporation has commenced a high resolution, property wide, 1102 line-km heliborne magnetic survey on the Company’s newly acquired Red Lake Extension project. The Survey’s 50 m spacing will provide high definition magnetic and structural information to aid further exploration on the project. This will supplement the existing government (2008) magnetic and electromagnetic survey* which was flown at 200 m spacing and identified 139 anomalies on the 33 km2 Project.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7b1c5e82-6441-4740-8590-20815f796854
“Existing government surveys show a first order structure and numerous other structural features associated with extensive conductors. Given that gold deposits in the region are associated with specific structures, the ability to obtain high definition, cost-effective magnetic data will be an important step in allowing us to refine and potentially locate additional structures and targets. Results of the survey will be used to support an aggressive exploration program beginning in Spring, 2021.” stated Chairman David Adamson.
Solstice just recently entered into an option agreement to acquire a 100% interest in the Red Lake Extension project consisting of 10 claims (164 units, ~3300 ha) located in the northern part of the Red Lake Gold District (Fig 1). Solstice acquired the Project based on our interpretation that the RLX covers approximately 14 km of strike length of a prominent geological structure which corresponds to the surface expression of a deep structure recently identified, using historical seismic surveys, by Ministry of Northern Development and Mines (MNDM) geologists, as the third major structure in the district**. According to the MNDM, the other two major structures correlate with the important gold deposits of the Red Lake Gold Camp, the Red Lake Gold Complex (Evolution Mining) and LP fault of the Dixie project (Great Bear Resources).
Additional details regarding the RLX Project are available in the Company’s news release dated February 4, 2021 and in the updated presentation on the Company’s website at www.solsticegold.com.
About Solstice
Solstice is a gold-focussed exploration company engaged in the exploration of our high-quality exploration assets in top tier jurisdictions. Our 33 km2 Red Lake Extension project is located on the north end of the prolific Red Lake Gold District. Our district scale KGP project covers 886 km2 with certain other rights covering an adjacent 683 km2, all with no underlying option or earn in payments. KGP has seen over $12MM dollars spent on significant field work, identified a 10 km2 gold boulder field and now prepared with multiple drill ready targets. KGP is located in Nunavut, Canada only 26 km from Rankin Inlet and approximately 7 km from the Meliadine gold deposits owned by Agnico Eagle Mines Ltd. Solstice has 99.5 million shares outstanding.
Solstice is committed to responsible exploration and development in the communities in which we work. For more details on Solstice Gold, the Red Lake Extension Project and the KGP Project, please see our Corporate Presentation available at www.solsticegold.com.
Tags: Northern Ontario / Exploration / Gold / All Articles