Solstice Gold Corp. (TSXV: SGC) (“
Solstice”, “we”,
“our” or the “
Company”) is pleased to announce
results of airborne electromagnetic (“EM”) surveys and soil
sampling at our RLX Gold Project (“RLX”), located in the
northwestern extension of the prolific Red Lake Gold Camp (the
“Camp”). The 2021 field results have outlined four key target areas
with gold in soil anomalies as well as geological, geophysical, and
geochemical settings that are consistent with other deposit areas
in the Camp. The Company plans to test these targets in 2022
starting with a 5,000 metre, permitted and fully funded drill
program. Based on a compilation of the new data, we have recently
extended our land position from 5.5 km2 to 11 km2 with new staking
to secure additional prospective ground.
Summary of Results
- Combined EM,
soil and geological data reveal approximately 16km of strike
potential within a largely unexplored extension of the Red Lake
Gold Camp.
- Strongly
elevated gold and spatially associated soil pathfinder elements
combined with EM and structural interpretations define numerous
target areas in several settings.
- EM response
within the project is widespread and variable with subdued
conductivity in areas of elevated soil geochemical responses. This
may indicate alteration of host conductive units by later processes
associated with mineralization. NE-trending conductors are present
in several areas which correlate with interpreted, and locally
observed, NE-trending geological features which cut the regional NW
trending fabric. Areas of strong conductivity are present including
some outside of known greenstone belts.
- NE-trending
structures with an interpreted extensional component may provide
support for the presence of a major crustal fault (“E1”) as
interpreted from seismic data1. In February 2021, the Ontario
Geological Survey (“OGS”) drew attention to regional seismic
structures surfacing in the area of RLX noting that two other
similar structures are associated with important gold deposits in
the Camp2.
Mike Timmins, Solstice’s Chief Executive
Officer, stated, “Our goal in Red Lake is to make a
discovery outside of the traditional mine trend in areas of the
Camp which are meaningfully underexplored. Last year’s fieldwork
has generated several exciting target areas which will now be drill
tested systematically for the first time. We are fortunate to be
one of only a few groups with a significant land position, momentum
building as we continue to outline potential and an exciting
exploration program about to begin. We look forward to releasing
additional detail on each of these prospective target areas in the
coming weeks and prior to the commencement of drilling in the
spring.”
DETAILED REVIEW OF RESULTS OF TECHNICAL
PROGRAMS
Background
As outlined in our news release dated January
10, 2022, government and researchers, using seismic data have
pointed to the potential presence of major, crustal scale
south-dipping normal or extension faults in the vicinity of RLX
denoted as E1 and E2 in the literature. In February 20212, the OGS
drew attention to two other similar features further south in the
Camp that are associated with important gold deposits and/or mines.
During 2021, we carried out geological, soil (humus) sampling and
magnetic/EM surveys. The integrated results of these programs,
detailed below, define numerous target areas over a combined 16km
strike length.
David Adamson, Ph.D., Solstice’s
Chairman, stated, “Our experience in Red Lake, including
directly along strike of RLX, gives us confidence that we control
an essentially unexplored, extension of the prolific Red Lake Gold
Camp. Third party data suggests major, deep-seated structures
should be present in the area and we may be seeing evidence for
these locally. Systematic exploration at RLX, including
geological mapping, magnetic, EM and soil surveys, confirm the
prospective setting for gold mineralization and the objective of
our upcoming drill program will be to confirm this. It should be
noted that, further north, we also control the 11 km long New
Frontier property, where a second deep structure is inferred by the
OGS and others. We will be carrying out field work in this area in
2022 using experience gained from RLX.”
EM surveys outline extensive, variable
conductivity and subsidiary NE-trending anomalies.
In November 2021, we carried out magnetic and EM
surveys designed to support geological mapping over the property
due to limited surface rock exposure and to investigate the
potential for mineralization associated with, or near, conductive
features. Our model is based on other gold occurrences in the
district including the Sidace Gold Deposit (Evolution Mining –
53.3% - Pacton Gold 46.7%), The PureGold Mine (Madsen) and other
more recent examples. In the Camp, conductive features themselves
can be gold-bearing or can serve as markers to aid in vectoring
towards parallel or associated targets.
An example of the conductive response at 80
metres below surface, integrated with our structural modelling, is
provided in Figure 1 which shows the following:
- Regionally
extensive conductors developed over a 16km strike length displaying
variable conductivity and interpreted to mark the widespread
presence of Red Lake geology.
- Conspicuous
NE-trending conductors are associated with NE-trending faults, e.g,
South Target area (Figure 1). Faults in this area can be traced
southwestwards to the Sidace Gold Deposit area. Many of the NE
structures are interpreted to be extensional and could be evidence
supporting the regional E1 structure interpreted by third parties
from seismic data1,2.
- The conductive
sequence lies adjacent to the regionally extensive Nungessor Shear
Zone (“NSZ”), mapped by the OGS. This feature, which can be traced
northwards for at least 80km is also a candidate for the surface
expression of the seismically interpreted E1 feature although
further north, on our New Frontier project, the OGS interpret the
NSZ as the second major seismic structure, E2 (News Release dated
January 10, 2022).
Figure 1 shows historical diamond drill holes in
the area (Dome Exploration Canada – Placer Dome, 1980). These holes
were shallow and only sparsely sampled but out of twelve holes, two
recorded elevated gold over narrow widths (two intervals of 0.68g/t
over 1.52m in hole B6 and 1.68g/t over 0.68m in hole B7). Four
holes did not adequately explain their geophysical target and one
was sampled but did not report assays in filed assessment work. Two
drill holes reported sericite schist and/or skarn units which are
important hosts rocks at Sidace and elsewhere in the Camp. As was
the case in the Sidace area, which subsequently has seen more than
80,000 metres of drilling, Placer Dome did not follow up on these
early signs of prospectivity.
Figure 1. -80m conductivity
slice of EM 3d voxel with fault interpretation on shadowed regional
OGS magnetic base. Area of new staking shown in yellow covering
fault extensions. Nungessor Shear Zone from OGS mapping. Areas of
potential seismic structures shown as E1 and E2 on inset
map.https://www.globenewswire.com/NewsRoom/AttachmentNg/aabd0337-4ee5-4045-aeb6-19462c43da6d
Figure 2. Elevated Gold in
soils (humus) plotted on the -80m conductivity slice with fault
interpretation on shadowed regional OGS magnetic base. Area of new
staking shown in yellow covering fault
extensions. https://www.globenewswire.com/NewsRoom/AttachmentNg/ce866417-db8b-4a20-85da-da4817e5df98
Soil Sampling outlines elevated gold and
pathfinder elements in several areas.
In early summer 2021, we carried out test humus
soils sampling over selected parts of the property. This work was
successful in defining areas with anomalous gold plus specific
pathfinder elements arsenic, molybdenum, mercury, and antimony
(News Release dated September 8, 2021). Based on these positive
results, we expanded soil sampling in late 2021 to include other
accessible parts of the property. Results for gold are summarized
in Figure 2 with further detail provided for three sub-areas in
Figures 3 to 5.
Figure 3. Central Grid Ah
(humus) gold-arsenic-molybdenum soils plotted on -80m conductivity
slice fault interpretation on shadowed regional OGS magnetic base
(scale as in Figs 1 and 2). See text for further
details. https://www.globenewswire.com/NewsRoom/AttachmentNg/8036dbd0-231b-476e-ac42-8dd481e5f3fe
Discussion of Soil Data
Three main areas of elevated gold and pathfinder
elements are present in the Central, North and South grid areas
(see Figure 2). These are summarized below:
Central Grid – See Figure 3
- This is a 1.3km
x 0.9km area containing elevated gold +/- arsenic anomalies with
flanking elevated molybdenum. Other anomalous elements (not shown)
include antimony and mercury.
- Numerous
elevated gold samples in this area have values greater than the
95th percentile of the data (N=711). While it is not possible to
directly compare these absolute values with other gold-bearing
areas outside of RLX, experience and third-party examples suggest
that the 95th percentile value of >7.5ppb Au is meaningful.
Eight samples in this area contain >10ppb Au of which six have
>15ppb (max = 19.2ppb Au). Arsenic and molybdenum values in the
central area range up to 30.3ppm and 1.78ppm, respectively. Summary
statistics for all elements described in this news release are
presented in Table 1.
- Conductivity in
the area, while present, is reduced in areas of elevated soils
which may indicate alteration of primary conductive units.
- Several
E-NE-trending interpreted structures are visible in magnetic data
in the vicinity of the elevated soil data.
- The area lies
immediately east of a “Sanukitoid” gabbro body mapped and sample by
the OGS. This intrusive rock type is diagnostic of a mantle
derivation which suggests it tapped very deep structures and as
such is further supporting evidence for the presence of crustal
scale faults in this area. East of the elevated soil responses is
an area of very elevated magnetic response of unknown origin.
Figure 4. North Grid Ah (humus)
gold-arsenic-molybdenum data on -80m conductivity slice with fault
interpretation on shadowed regional OGS magnetic base. See text for
further
details. https://www.globenewswire.com/NewsRoom/AttachmentNg/36679bdc-390b-4df1-9c9d-616ed98412a9
Figure 5. South Grid Ah (humus)
gold-arsenic-antimony-molybdenum soils on -80m conductivity slice
of EM 3d voxel with fault interpretation on shadowed regional OGS
magnetic base. See text for
details. https://www.globenewswire.com/NewsRoom/AttachmentNg/b15ad0d4-9d36-488f-992c-2ddfb7bb491b
North Grid – See Figure 4
- This area shows
two sub areas of gold-arsenic and, to its south,
gold-arsenic-molybdenum anomalies which, collectively define a
1.7km x 0.9km area. Other anomalous pathfinder elements in this
area include antimony and mercury.
- The two areas
referred to above are separated by a conspicuous NE-trending break
in conductivity which may correlate with a structure
(fault).
- Notable soil
samples in this area include gold, arsenic and antimony with
maximum values of 19.7ppb, 48.6ppm and 24.6ppm, respectively. See
Table 1 for complete summary statistics.
- Sampling does
not extend to the northwest and where conductivity data suggest the
geological trend continues.
South Grid – See Figure 5
- This area of
soils is marked by conspicuous NE-SW trending conductors which
correlate with regional-scale magnetic features interpreted as
normal (extensional) faults. Unlike the rest of the property, this
is an area where a minor amount of outcrop exists and where
NE-trending foliations are mapped defining a NE-SW-trending F2 fold
axis, oriented approximately 90 degrees to regional NW-trending
(F1) structures.
- Multi-element
soil anomalies are present in this area but are not as strong as in
the central and north target areas. However, 3D EM data suggest
that near surface conductivity is low and that the EM conductor in
this area improves with depth. It is possible therefore that this
area is exhibiting a muted soil near surface response as a
result.
There are other areas of elevated gold in soils
not reviewed here and extensive parts of the property could not be
sampled due to lack of available humus or access issues. One
notable example is the strong area of conductivity in the NE area
(Figure 1) which has only limited access for soil sampling, but
remains a key target area.
Summary
1) Taken together, soils, EM and structural
interpretations define numerous target areas. Gold in soils are
typically associated with other pathfinders which would be
predicted by our exploration model (e.g., arsenic, molybdenum,
antimony, mercury).
2) EM responses across the project are varied.
Often, but not always, EM is reduced in areas of anomalous soils
compared to areas along strike which may indicate secondary
alteration of host conductive units by later processes. Several
areas display NE-trending conductors which are correlated with
interpreted and locally mapped NE-trending geological features.
3) NE-trending structures are interpreted to
have an extensional component and may provide support for the
presence of extensional features associated with the major E1
extensional structure identified from seismic data2
Statistic |
Au ppb |
As ppm |
Mo ppm |
Ag ppm |
Sb ppm |
Hg ppm |
No. of observations |
711 |
711 |
711 |
711 |
711.00 |
711 |
Minimum |
0.00 |
0.05 |
0.04 |
0.005 |
0.01 |
1 |
Maximum |
19.70 |
48.60 |
5.22 |
0.975 |
24.60 |
420 |
1st Quartile |
1.20 |
3.60 |
0.24 |
0.036 |
0.10 |
80 |
Median |
2.00 |
5.30 |
0.36 |
0.066 |
0.17 |
120 |
3rd Quartile |
3.30 |
7.80 |
0.51 |
0.127 |
0.29 |
190 |
Mean |
2.66 |
6.28 |
0.46 |
0.098 |
0.25 |
135 |
Variance (n-1) |
6.43 |
18.71 |
0.22 |
0.010 |
0.87 |
6197 |
Standard deviation (n-1) |
2.53 |
4.33 |
0.47 |
0.102 |
0.93 |
79 |
Table 1. Summary statistics of
selected elements
1 Calvert, Andrew J. and Cruden, Alexander R.
2004. Seismic evidence for the preservation of the Archean Uchi
granite-greenstone belt by crustal-scale extension. Tectonophysics
388 p.135-143
2 Lewis, S.O. 2021. Deep tapping seismic
structure in the Red Lake district; in Ontario Geological Survey,
Resident Geologist Program, Recommendations for Exploration
2020-2021, p.9-13.
Soil Sampling Protocols
Sampling and QC analysis of samples was carried
out under the supervision of independent consultant Colin Dunn
P.Geo, Ph.D, an acknowledged expert in this field. Prior to
carrying out the survey, various sampling and analytical protocols
were reviewed in conjunction with Dr. Dunn whose recommendation was
that Ah (humus) sampling and standard Aqua Regia digestion were the
preferred methods based on ground conditions and available
material. An approximately 150 g sample of Ah (humus) soil was
collected in standard kraft sample bags at 100 metre centres using
protocols established by Dr. Dunn. Solstice staff were supported in
the field in phase one sampling by WellDunn Consulting of Calgary,
Alberta (independent of Dr. Colin Dunn and Solstice). An initial
batch of approximately 300 samples were shipped to Dr. Dunn at his
preparation facility following which they were sieved to
approximately 50 mesh (297um) to remove extraneous materials.
Remaining samples were prepared by Activation Laboratories Ltd.
(Actlabs) of Ancaster Ontario using protocols established by Dr.
Dunn. At Actlabs, 0.5g of sample material was digested using Aqua
Regia and subsequently analyzed by ICP_MS for 63 elements (package
UT1). In addition to internal Actlabs controls, field duplicate and
internal (‘blind’) controls were inserted into the sample stream.
Actlabs is independent of Solstice and its consultants. Quality
control of data and verification was carried out by Colin Dunn and
was reviewed and approved by Sandy Barham P.Geo. designated QP.
Airborne EM survey details
The 879.1 line km SkyTEM electromagnetic and
magnetic survey was flown by SkyTEM Surveys ApS using the
SkyTEM312M system between November 5-15, 2021 at a nominal 75m line
spacing. Data products include processed electromagnetic data and
presentations, spatially constrained inversion results and model
presentations as well as processed magnetic data and presentations.
These products are being further reviewed with our third-party
geophysical consultant to include generation of 3D inversion
magnetic, electromagnetic and other products models to aid drill
targeting.
About Solstice Gold Corp.
Solstice is a gold-focused exploration company
with quality, district-scale projects in established mining regions
of Canada. Our 180 km2 Red Lake land position is located on the
northern extensions of the prolific Red Lake Gold Camp in Ontario.
RLX is approximately 45km from the Red Lake Mine Complex owned by
Evolution Mining. The Company is funded for phase one drilling in
Red Lake. Our newly formed 225km2 Atikokan Gold Project is
approximately 23km from the Hammond Reef Gold Project owned by
Agnico Eagle Mines Limited and is fully funded for a robust field
program in 2022. Our district scale Qaiqtuq Gold Project which
covers 886 km2 with certain other rights covering an adjacent 683
km2, hosts a 10 km2 gold boulder field and is fully permitted with
multiple drill-ready targets. Qaiqtuq 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
Limited.
Solstice is committed to responsible exploration
and development in the communities in which we work. For more
details on Solstice Gold, our exploration projects and details on
our recently acquired portfolio of projects please see our
Corporate Presentation available at www.solsticegold.com.
David Adamson was a co-award winner for the
discovery of Battle North Gold Corporation's Bateman Gold deposit
and was instrumental in the acquisition of many of the district
properties in the Battle North portfolio during his successful 16
years of exploration in the Red Lake.
Sandy Barham, M.Sc., P.Geo., Senior Geologist,
is the Qualified Person as defined by NI 43-101 standards
responsible for reviewing and approving the technical disclosures
of this news release.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
On Behalf of Solstice Gold
Corp. Mike Timmins, Chief Executive Officer For
further information on Solstice Gold Corp., please visit our
website at www.solsticegold.com or contact: Phone: (604)
283-7234 info@solsticegold.com
Forward-Looking Statements and
Additional Cautionary Language
This news release contains certain
forward-looking statements (“FLS”) including, but not limited to
the Company’s plans to start testing targets in 2022 including
fully funding a drill program and carrying out field work in Red
Lake. FLS can often be identified by forward-looking words such as
“approximate or (~)”, “emerging”, “goal”, “plan”, “intent”,
“estimate”, “expects”, “potential”, “scheduled”, “may” and “will”
or similar words suggesting future outcomes or other expectations,
beliefs, plans, objectives, assumptions, intentions or statements
about future events or performance. There is also no guarantee that
continued exploration at Solstice exploration projects, all of
which are at an early stage of exploration, will lead to the
discovery of an economic gold deposit. Factors that could cause
actual results to differ materially from any FLS include, but are
not limited to, the future impacts of the COVID 19 pandemic and
government response to such pandemic, the ability of the Company to
continue exploration at its projects during the pandemic and the
risk of future lack of access to the projects as a result thereof,
delays in obtaining or failures to obtain required governmental,
environmental or other project approvals, inability to locate
source rocks, inflation, changes in exchange rates, fluctuations in
commodity prices, delays in the development of projects, regulatory
approvals and other factors. FLS are subject to risks,
uncertainties and other factors that could cause actual results to
differ materially from expected results.
Potential shareholders and prospective investors
should be aware that these statements are subject to known and
unknown risks, uncertainties and other factors that could cause
actual results to differ materially from those suggested by the
FLS. Shareholders are cautioned not to place undue reliance on FLS.
By their nature FLS involve numerous assumptions, inherent risks
and uncertainties, both general and specific, that contribute to
the possibility that the predictions, forecasts, projections and
various future events will not occur. Solstice undertakes no
obligation to update publicly or otherwise revise any FLS whether
as a result of new information, future events or other such factors
which affect this information, except as required by law.
This news release contains information with
respect to adjacent or other mineral properties in respect of which
the Company has no interest or rights to explore or mine or
acquire. Readers are cautioned that mineral deposits on adjacent or
similar properties are not indicative of mineral deposits on the
Company’s properties, nor is there certainty that Solstice’s
projects will contain economic mineralization. This news release
mentions other companies that are unrelated to Solstice, and this
does not imply any agreements, partnerships, or rights with respect
to any of these companies or their properties other than where
explicitly defined. Past performance is no guarantee of future
performance, and all investors are urged to consult their
investment professionals before making an investment decision.
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