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Solstice Gold Provides Interim Update on Phase 1 Drilling in Red Lake Extensive Alteration Observed in First Holes Drilled
VANCOUVER, British Columbia, Aug. 02, 2022 (GLOBE NEWSWIRE) -- Solstice Gold Corp. (TSXV: SGC) (“Solstice”, “we”, “our” or the “Company”) is pleased to provide
About this update from Solstice Gold Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 02, 2022 (GLOBE NEWSWIRE) -- Solstice Gold Corp. (TSXV: SGC) (“Solstice”, “we”, “our” or the “Company”) is pleased to provide an update on progress and observations made during Phase 1 drilling at its 100% owned, Red Lake Extension (“RLX”) project, located in the northwestern corner of the prolific Red Lake Gold Camp (the “Camp”). RLX has been the focal point of our dominant land holdings of over 180km2 of prospective greenstone extensions and important regional structures (Figure 1). The initial 5,000m (10-15 drill hole program) was designed to test three main target areas at an average depth of ~250m below surface. The Company has completed four drill holes (2,075m from a total of 5,000m) and a fifth is in progress. Holes are designed to test targets detailed in our news release dated June 21, 2022. Mike Timmins, Solstice CEO stated, “As we approach the halfway mark of our first program at RLX, we’re excited to provide more information to support our thesis of a potential extension of the Red Lake Camp. Observations made around the kilometer scale and extent of alteration, as well as the presence of sulfides and iron formation confirm the various target settings we anticipated. These early indications reinforce our premise for assembling an attractive land position with large-scale regional features, proximal to interpreted deep-tapping structures and focusing our technical work on this under explored corner of the Camp. Sampled intervals of the first drill holes, including the wide alteration zones, have been submitted for analysis and we anticipate receiving results in the fourth quarter.” Program Highlights: Drilling in the Central Target area (Figure 2) was designed to test for structurally hosted alteration zones characterized by biotite-sericite schists. All three drill holes testing these targets have intersected heavily altered alteration zones (“ALT’s”) comprising biotite-sericite, +/- KSpar flooded zones and +/- quartz. These correlate with areas of moderate to weak conductivity as defined by 3D EM modeling (Figure 2). The ALT’s range from 9m to 36m core length and are developed within approximately 50m intervals in each hole. True thicknesses of ALT zones are estimated to be ~90% of core lengths based on our current interpretation and oriented drill core. Primary rock types within ...