Figure 1: Plan view of chargeability, 200m below surface with Solstice gold drill target areas 1-5. Simcoe Geosciences IP targets also shown.
Figure 2: 3D view of high chargeability (>15mV/V) isosurface with chargeability slices. Planned drillholes indicated in white/black at target areas. Note that IP responses at main targets are more pronounced than responses at the known Leckie Gold Zone.
VANCOUVER, British Columbia, April 02, 2025--(BUSINESS WIRE)--Solstice Gold Corp. (TSXV: SGC) ("Solstice", "we", "our" or the "Company") is pleased to announce finalization of plans for a 3,500 m, fully funded and permitted diamond drill program at the Strathy Gold Project, located in the Temagami Greenstone Belt in the prolific Abitibi Subprovince in Ontario. The program consists of 15-18 drill holes at an average length of 200 m below surface which will test five high-priority target areas and is set to commence in April, 2025.
Pablo McDonald, Solstice CEO stated, "We’re thrilled to be able to launch our initial drill program at our Strathy Gold Project. It’s rare to control a property in the prolific Abitibi Subprovince that hosts documented high-grade gold, but which is essentially untested over several adjacent square kilometres. After months of rigorous technical work, culminating in our recent IP geophysical survey, we interpret a much larger, coherent mineralizing system at Strathy than has been documented or tested to date. This campaign marks a pivotal moment for Solstice shareholders as we embark on a well-designed drill program that we believe gives us a strong chance of discovery."
Background
The core of the Strathy Project is centered on the regional-scale Leckie Fault, which is a gold-bearing N-S-trending fault that hosts the historic Leckie Gold Zone. The Leckie Gold Zone is mainly situated on two small (24ha) third party-owned patents, but documented gold mineralization extends onto Solstice’s claims and includes 5.00 g/t Au over 17.28m and 7.66 g/t Au over 7.25m (core lengths) at vertical depths of approximately 50-100 metres below surface1. Solstice controls the North and South extensions of the Leckie Fault which are untested by diamond drilling along 1.2km of strike length and to depths in excess of 1km on Solstice Claims (see Figure 1).
Recent IP surveys (Simcoe Geosciences) detect the known mineralization at the Leckie Gold Zone which is an important ‘proof of concept’. The IP survey shows more extensive, better-developed and untested IP anomalies along the North and South extensions of the Leckie Fault. These anomalies extend from surface to depths of >300m on Solstice claims (see Figures 1 and 2), as summarized, below:
Leckie Fault Extensions: North and South extensions of the Leckie Fault show strong IP chargeability anomalies. Many of these are better developed than those at the historic high-grade intercepts noted above.
Potential Intrusive-Related Targets: A second type of target at Strathy which exhibits high chargeability and associated high resistivity (as opposed to low resistivity at the Leckie Gold Zone). These IP responses are up to 800m long and may suggest the presence of a different style of mineralization from the Leckie Fault, possibly associated with intrusive source rocks, which are spatially associated with many gold deposits in the Temagami Greenstone Belt and in the Abitibi in general.
New Leckie-Parallel Faults: Digital elevation modelling (DEM) and IP data define linear N-S targets which are interpreted to represent multiple Leckie-type targets across the Property. The highest priority areas on these targets are where they intersect the high chargeability / high resistivity targets described above.
Targeting
Compilation of current and historic data, along with results from detailed IP surveys identify five main high-priority target areas, shown below in (see Figure 1).
The five principal target areas to be drilled (1-5 on Figure 1) are summarized below:
Northern extension of the Leckie Fault. This area hosts chargeability responses which are stronger and more extensive than those present at the Leckie Gold Zone. This target area is at the intersection of the Leckie Fault IP trend with a regional IP anomaly which extends to the southwest for 800m.
Southern extension of the Leckie Fault. This area hosts chargeability anomalies which are stronger, more numerous, and more extensive than those present at the Leckie Gold Zone. By comparison with Leckie Gold Zone responses, the Leckie Fault is clearly identified in IP sections in both target areas 1 and 2.
An extensive, moderately to strongly chargeable zone associated with areas of high (rather than low) resistivity. This suggests that mineralization may be associated with more resistive, possibly intrusive, host rocks. This represents an intriguing, newly identified target type on the property. Modelling of DEM and historical data identify N-S trending faults in this area that are interpreted to be similar to the Leckie Fault, located approximately 500m to the west.
In addition to Leckie-style faults, the IP response in this area has a regional (NE-SW) component. Drilling will test this target which is essentially perpendicular to the Leckie Fault targets described above in 3.
Drilling of this target will test an 800m-long chargeability anomaly associated with increasing resistivity southwestwards. As noted above, high resistivities may be related to intrusive source rocks. Targeting here is also designed to test potential high angle structures cutting this regional trend.
For more detailed information on the Strathy Gold project, including a technical review of the project and a detailed review of IP results and targeting, please visit www.solsticegold.com.
References:
OGS Assessment file No. 31M04SW0088
About Solstice Gold Corp.
Solstice is an exploration company with quality, district-scale gold projects in established mining regions of Canada. Our 41 km2 Strathy Gold Project hosts high grade gold mineralization over a wide area straddling two NE-SW-trending structures. It is located in the Abitibi Subprovince of the Superior Craton and has never been systematically explored in its history. Our Qaiqtuq Gold Project which covers 662 km2, hosts a 10 km2 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. Our district-scale Atikokan Gold Project is approximately 26 km from the Hammond Reef Gold Project owned by Agnico Eagle Mines Limited. Our 194 km2 Red Lake Extension (RLX) and New Frontier projects are located at the northwestern extension of the prolific Red Lake Camp in Ontario and approximately 45 km from the Red Lake Mine Complex owned by Evolution Mining. An extensive gold and battery metal royalty and property portfolio of over 80 assets was purchased in October 2021. Well over $2.5 million in value and over 20 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 portfolio of projects please see our Corporate Presentation available at www.solsticegold.com.
Solstice’s Chairman, 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.
Forward-Looking Statements and Additional Cautionary Language
This news release contains certain forward-looking statements ("FLS") including, but not limited to the need for more prospecting and analysis, that the geological and structural setting at the Strathy Gold Project is highly prospective for gold mineralization, the timing of receipt of survey results in October 2024, defining drill targets, the focus of follow-up efforts on promising geochemical and mineralogical anomalies, further evaluation and modelling following completion of the new IP survey and the extension of in-depth systematic prospecting and sampling program this year. 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. 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 have sufficient financial resources for sampling and prospecting this year, that gold discoveries will be to the level anticipated 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, limited capital or access to additional capital for prospecting, delays in obtaining or failures to obtain required TSXV, governmental, environmental or other project approvals, 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.
Historical Sampling and Drilling Data and Information
The sampling and drilling data and information presented in this news release (the "Historical Exploration Information") is historical in nature. The reader is cautioned that the Historical Exploration Information is based on prior data and reports previously prepared by third parties without the involvement of Solstice. Solstice has not undertaken any independent investigation, nor has it independently analyzed the results of the Historical Exploration Information in order to verify the results. The reader is cautioned not to treat Historical Exploration Information, or any part of it, as current and that a qualified person has not done sufficient work to verify the results and that they may not form a reliable guide to future results. No independent quality assurance/quality control protocols are known for these historic samples and drill holes and therefore the Historical Exploration Information may be unreliable. Solstice considers these historical drill results relevant as the Company will use this data as a guide to plan future exploration and drilling programs. Solstice considers the data to be reliable for these purposes, however, the Company's future exploration work will include verification of the data through drilling.
On Behalf of Solstice Gold Corp. Pablo McDonald, 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
