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Solstice Gold Provides Red Lake Exploration Update and Announces Winter Drilling at RLX
VANCOUVER, British Columbia, Nov. 21, 2022 (GLOBE NEWSWIRE) -- Solstice Gold Corp. (TSXV: SGC) (“Solstice”, “we”, “our” or the “Company”) is pleased to provides
About this update from Solstice Gold Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 21, 2022 (GLOBE NEWSWIRE) -- 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 ...