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Solstice Gold Receives All Permits for Exploration Activities on Kahuna Project
VANCOUVER, British Columbia, March 13, 2019 (GLOBE NEWSWIRE) -- Solstice Gold Corp. (TSXV: SGC) (“Solstice”, the “Company”, “we” or “our”) is pleased to announc
About this update from Solstice Gold Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, March 13, 2019 (GLOBE NEWSWIRE) -- Solstice Gold Corp. (TSXV: SGC) (“Solstice”, the “Company”, “we” or “our”) is pleased to announce that we have received standalone permits necessary for the exploration work to be undertaken at our 100% owned 920 km2 Kahuna Gold Project (“Kahuna” or the “Project”), located near Rankin Inlet, Nunavut. The permits allow the Company to complete up to 20,000 metres of drilling in 75-100 holes, geophysics, rock and soil sampling throughout the Project. The three key permitting bodies include Crown-Indigenous Relations and Northern Affairs Canada (“CIRNAC”), the Nunavut Water Board (“NWB”) and the Kivalliq Inuit Association (“KIA”). The permits range in length from 2-5 years and are either extendable or renewable. President Marty Tunney stated, “We would like to thank the communities of Chesterfield Inlet and Rankin Inlet for their support along with CIRNAC, the NWB and the KIA for their attentiveness to the process and the very quick turnaround time on the permits.” The Company has completed an interim update focussed on a 45 km2 target area (“QEMS“) where significant gold in boulders and, locally in outcrop, was discovered late in the 2018 field season (see news release dated November 13, 2018). The updated interpretation is summarized in our corporate presentation, available at www.solsticegold.com, and includes extensive re-processing of magnetic and electromagnetic data which show a clear relationship with prospective iron formation target units in the 45 km2 target area including Qaiqtuq. The utility of both magnetics and electromagnetics in exploration for iron formation-hosted gold deposits at Meliadine (Agnico Eagle Mines Ltd.), Amaruk (Agnico Eagle Mines Ltd.) and Back River (Sabina Gold and Silver Corp.), among other examples, is well documented. The high resolution magnetic and electromagnetic data (30 m spacing) cover a large part of the Project area and are an extremely valuable exploration tool and data which would cost many millions of dollars to replace. A more extensive technical overview of the QEMS target areas is also available on the Solstice website. “We believe there is exceptional and clear potential for further gold discovery on the project and that diamond drilling in 2019 is warranted. However, decades of experience in gold exploration i...