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Solstice Gold triples Red Lake position with 3 new projects

Apr 13, 2021

Solstice Gold Corporation has acquired through staking an additional 9,461 Ha (484 claim units) comprising three new projects; Taillon, Moreau and Berens (the New Projects), approximately 30 km north of our RLX project. Our Red Lake land holdings are now three times the size we had prior to the new staking. Key features of the new acquisitions are summarized below:

  • Two of the new projects (Taillon, and Berens) have been mapped as greenstone and extensions of the Red Lake greenstone belt by the Ontario Government Survey (“OGS”).1,2 Our third project (Moreau) was staked to cover nearby extensive EM anomalies which occur over an approximately 5km strike length. According to the OGS1, the Taillon area are “correlative with the Balmer assemblage rocks in Red Lake”. Most of the major gold deposits in Red Lake are located within Balmer assemblage rocks.
  • Along with our RLX project, acquired in February, 2021 (see our February 4, 2021 news release for details), Solstice now controls three of the four known greenstone slivers which extend northwards from the main Red Lake belt.
  • Collectively, our four projects cover most of the known EM conductors in the area3 (see Figure 1).
  • All of our projects, including RLX, are associated with interpreted major structures (see Figure 1). In January, 2021, the OGS4 pointed to the potential significance of fault structures in the area which they suggested may represent a possible third major structure in the Red Lake belt, the other two being interpreted by the OGS to generally correlate with the location of two major gold deposits in the Red Lake camp.
  • There is no record of previous exploration in the new project areas despite them being extensions of the Red Lake greenstone belt.
  • Collectively, we now control 15,175 Ha (759 claim units) in this emerging exploration play.

The January 2021 OGS exploration report4 triggered major staking in the area of the interpreted greenstone extensions over a 50km strike length. At the same time, we targeted the greenstone closest to the main Red Lake belt based on our interpretation of public domain data and our historical familiarity with the Sidace gold deposit area (Evolution Mining/ Pacton (39%). We believe RLX represents a similar setting. We targeted Taillon, Moreau and Berens using the same rationale. They comprise extensions of the Red Lake belt, contain extensive EM anomalies and are associated with major structures evident. Significantly, given the well-known gold endowment of the Red lake belt and the intensely competitive nature of staking in the belt, there is no record of previous exploration in the three new project areas despite their obvious lineage,” stated Chairman David Adamson.

During his successful 16 years of exploration in the Red Lake camp, David Adamson was a co-award winner for the discovery of Battle North Gold Corporation's Bateman Gold deposit5 and was instrumental in the acquisition of many of the Red Lake district properties now part of the Battle North portfolio.

Solstice is currently formulating exploration plans for the RLX and New Projects which we will announce in due course.

Additional details regarding the RLX Project are available in the Company’s news releases dated February 4, 2021, March 16, 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 55 km2 Red Lake Extension project along with the combined 96 km2 Taillon, Moreau and Berens projects are 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 99.8 million shares outstanding.

Tags: Northern Ontario / Exploration / Gold / All Articles