Solstice Provides Red Lake Exploration Update and Announces Winter Drilling at RLX
Solstice Provides Red Lake Exploration Update and Announces Winter Drilling
at RLX
VANCOUVER, British Columbia, Nov. 21, 2022 -- Solstice Gold Corp. (TSXV: SGC) (“Solstice”, “we”, “our” or the “Company”)
is pleased to provides results of its Phase 1 drill program and to announce the 4,000m, fully funded and permitted, Phase 2
diamond drill program at our 100% owned, royalty-free Red Lake Extension (“RLX”) project, located in the northwestern corner
of the Red Lake Gold Camp (the “Camp”) will commence in January 2023. Phase 2 drilling will test parts of the project that are
better accessed during the winter drill season.
Phase 1 Highlights:
Solstice has recently completed 5,323m of diamond drilling in 11 drill holes. These holes tested a 5.6km corridor in the central
region of RLX. This total includes one lost drill hole which was abandoned prior to testing its target. Results are summarized
below and in Table 1.
• Quartz-sulphide veining was intersected in mafic rock units overlying iron formation in two drill holes. Gold was observed
and analysis returned 1.96g/t Au over 1.5m (RLXDH22-07) at a down-hole depth of 331m and 0.82 g/t over 1.05m
(RLXDH22-02) at 317.6m (see Figure 1 and Table 1).
• Intensely altered zones (“ALT”), structurally above the mafic units noted above are associated with an extensive,
moderate electro-magnetic (“EM”) response comprising several biotite-sericite, +/- potassium feldspar flooded intervals
(9m-36m core length) which obliterate primary rock types. Gold values to date in these units are low but enrichment in
some pathfinder elements (Ag, Pb, Zn) indicate their potential prospectivity.
• Drill results confirm that the RLX property is underlain by the northern extension of volcanic rocks of the Red Lake
Greenstone Belt as documented at the Sidace gold deposit located approximately 12.5 km to the southwest (Evolution
Mining 53.3% / Pacton Gold 46.7%). Assay results presented here represent the first reported gold within the RLX
volcanic package.
Mike Timmins, Solstice’s Chief Executive Officer, stated , “The goal of the first phase of drilling was to test our easy access
summer targets and explore for the continuation of the Red Lake trend. We have observed large-scale alteration, encountered
low-grade gold in two holes and anomalous gold in several others. All expected precursors to the potential discovery of a larger
system. This winter we will leverage learnings from Phase 1 and drill test other exciting high potential targets in the North and
South Fold areas with a further 4,000m.”
David Adamson, Solstice’s Chairman, stated , “For the first time, we have demonstrated that gold is present within volcanic
rocks in this essentially unexplored extension of the Red Lake Greenstone Belt. Using the knowledge gained from our drill
program, we look forward to vectoring towards additional targets in Phase 2. To date we have sparsely tested only a 5.6km
strike length, a small part of the ~18km of prospective target strike length at RLX. The next suite of untested targets will be
drilled in Phase 2 this winter and are summarized in more detail below.”
In addition to newly identified gold in volcanic rocks, previous drilling in 1980 by Dome Exploration * reported elevated intrusive-
hosted gold in two shallow holes drilled on Nungesser Lake (Figure 1). One drill hole (B6) reported 0.62g/t gold over 1.5m at
57.3m down hole, plus a separate interval of 0.62g/t over 1.5m at 62.0m. A second drill hole (B7) located approximately 1.8km
further east, reported 0.62g/t gold over 1.3m at a down-hole depth of 59m.
Figure 1. RLX property showing new gold and historical (Dome Exploration, 1980) intercepts, completed Solstice drill holes
and Phase 2 target areas. Base is 220-240m (below surface) resistivity slice from 3D EM inversion modeling (Emergo SCI). 9*
denotes hole lost due to technical reasons. - https://www.globenewswire.com/NewsRoom/AttachmentNg/9e1329bb-0bfd-41fb-
87df-dac671480bd9
Phase 2 Program:
Many large and prospective areas of RLX shown in Figure 1, are best accessed in the winter due to the presence of lake
and/or swamp. This next suite of targets has some of the strongest EM response and structural complexity at RLX.
Preparations for Phase 2 exploration will begin in December and drilling is anticipated to commence early in the first quarter of
2023.
Select target areas include:
• A mapped fold in the South Fold Target within altered mafic volcanics and iron formation with strong EM response.
Folding post-dates regional folding in the area and is associated with large-scale NE-trending faults (Figure 1).
• Follow up of elevated gold and alteration in Phase 1 areas.
• Areas where shallow drilling using small, 18mm diameter core by Dome exploration in 1980 documented elevated gold*.
• Additional target areas guided by observations from current drilling, gold in humus soils and geophysical modeling.
Table 1: RLX Phase 1 Drill Results
Drill
Hole UTME UTMN Az Dip Au
(g/t)
Core
Length
(m)
FROM TO Comment
RLXDH22
-02 4656905698533 98 -48 0.82 1.05 317.6 318.65 Qtz-Feldspar veined mafic volcanic. Adjacent sample
has elevated Mo (75ppm) and W (341ppm)
RLXDH22
-071 4643955701505 93 -54 1.96 1.50 331.0 332.50 Biotite-Calcite altered volcaniclastic
Other
holes
RLXDH22
-01 4652985698533 98 -48 0.07 0.90 270.0 270.90 Pyroxenite with 0.18%Cu. Pb max 793ppm, Zn max
698ppm, altered units
RLXDH22
-03 4654005698070 92 -48 0.13 1.00 427.0 428.00 Qtz veins in volcaniclastic. As to 263ppm associated with
Qtz veins.
RLXDH22
-04 4652795698611 56 -53 NSV Max Zn 952ppm in ALT
RLXDH22
-05 4645005700484 90 -45 0.24 1.00 572.7 573.70 As max433ppm, Pb max 1410ppm. Zn max 931ppm
RLXDH22
-061 4641625701586100 -54 NSV
RLXDH22
-081 4653985698006 90 -58 NSV
RLXDH22
-091 4658235698525 93 -48 Hole Lost - did not test target
RLXDH22
-101 4658235698525 94 -48 NSV
RLXDH22
-111 4658175698629 96 -50 0.08 Diorite dyke intruded target section
Coordinates are NAD83 UTM 15N.
1ICP results pending.
*Dome Exploration (1980, “Dome”) results are reported in Ontario government assessment files. Hole B6 reported 0.62g/t gold
over 1.5m at 57.3m down-hole plus a separate interval of 0.62g/t over 1.5m at 62.0m down-hole. Hole B7 reported 0.62g/t gold
over 1.3m at 59m down-hole.
Dome reported a total of 12 AQ (18mm diameter) drill holes in the area for a total of 1198.3m (average hole length 87m after
subtracting overburden). Of these, four were drilled in the wrong direction and two drill holes were sampled but no assays were
reported. Remaining holes were sparsely sampled but returned trace gold. Values reported in this news release were converted
from imperial measurement and dwt gold (1.55 dwt = 1g/t) in the original logs.
Sample Collection and Analysis
Bedrock cores retrieved on the property have low fracture density and consist of competent rocks with consistent 100%
recovery rates. Small intersections of fault gouge and minor incidences of short sections of missing core do not impact results
tabulated in Table 1 above.
All ½ drill core samples were collected in a secure location, and shipped to Activation Laboratories Ltd. in Thunder Bay,
Ontario. A series of industry standard internal quality control and assurance programs were followed, which included security
tags on all shipments and the insertion of certified reference materials, duplicates (¼ core) and blank samples in regular
intervals. Samples were processed at the lab for gold analysis by a 50-gram fire assay with finish by atomic absorption.
ICP samples were collected for all gold samples and are being analyzed at Actlabs using a 4-acid digestion with analysis by
ICP.
About Solstice Gold Corp.
Solstice is an exploration company with quality, district-scale gold projects in established mining regions of Canada. Our 194
km2 Red Lake Extension (RLX) and New Frontier projects are located at the northwestern extension of the prolific Red Lake
Figure 1.
Camp in Ontario and approximately 45km from the Red Lake Mine Complex owned by Evolution Mining. The Company is
funded for phase one drilling at RLX. Our newly formed 322km 2 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
Qaiqtuq Gold Project which covers 886 km 2 with certain other rights covering an adjacent 683 km 2, hosts a 10 km 2 high grade
gold boulder field, is fully permitted and hosts multiple drill-ready targets. Qaiqtuq is located in Nunavut, only 26 km from
Rankin Inlet and approximately 7 km from the Meliadine Gold Mine owned by Agnico Eagle Mines Limited. An extensive gold
and battery metal royalty and property portfolio of over 80 assets was purchased in October 2021. Over $2 million in value and
three new royalties have been generated since the acquisition.
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
Forward-Looking Statements and Additional Cautionary Language
This news release contains certain forward-looking statements (“FLS”) including, but not limited to commencement of the
Phase 2 drill program at RLX, the potential prospectivity of gold values from the recently completed holes, testing additional
targets in Phase 2, preparations for Phase 2 exploration and anticipated 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. In respect of
the FLS, the Company has made certain assumptions that management believes are reasonable at this time. The
assumptions include that the Company will be able to complete its anticipated drilling as scheduled and this scheduling will
not be impacted by weather or logistical factors associated with the project. However, there can be no assurance that such
assumptions and statements will prove to be accurate and actual results could differ materially from those anticipated in such
statements. Factors that could cause actual results to differ materially from any FLS include, but are not limited to,
unforeseen delays related to drilling, 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 TSXV, governmental, environmental
or other project approvals, potential relocation of targeted drill holes due to budgets and/or access issues, 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.
RLX property showing new gold and historical (Dome
Exploration, 1980) intercepts, completed Solstice drill
holes and Phase 2 target areas. Base is 220-240m (below
surface) resistivity slice from 3D EM inversion modeling
(Emergo SCI). 9* denotes hole lost due to technical
reasons.