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Solstice Gold Triples Its Red Lake Position with Three New Projects
VANCOUVER, British Columbia, April 13, 2021 (GLOBE NEWSWIRE) -- Solstice Gold Corporation (TSXV:SGC) (“Solstice”, the “Company”, “we” or “our”) is pleased to an
About this update from Solstice Gold Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, April 13, 2021 (GLOBE NEWSWIRE) -- Solstice Gold Corporation (TSXV:SGC) (“Solstice”, the “Company”, “we” or “our”) is pleased to announce that we have acquired through staking an additional 9,461 Ha (484 claim units) comprising three new projects; Taillon, Moreau and Berens (the New Projects), approximately 30 km north of our RLX project (Figure 1). Our Red Lake land holdings are now three times the size we had prior to the new staking. Key features of the new acquisitions are summarized below: Two of the new projects (Taillon, and Berens) have been mapped as greenstone and extensions of the Red Lake greenstone belt by the Ontario Government Survey (“OGS”).1,2 Our third project (Moreau) was staked to cover nearby extensive EM anomalies which occur over an approximately 5km strike length. According to the OGS1, the Taillon area are “correlative with the Balmer assemblage rocks in Red Lake”. Most of the major gold deposits in Red Lake are located within Balmer assemblage rocks. Along with our RLX project, acquired in February, 2021 (see our February 4, 2021 news release for details), Solstice now controls three of the four known greenstone slivers which extend northwards from the main Red Lake belt. Collectively, our four projects cover most of the known EM conductors in the area3 (see Figure 1). All of our projects, including RLX, are associated with interpreted major structures (see Figure 1). In January, 2021, the OGS4 pointed to the potential significance of fault structures in the area which they suggested may represent a possible third major structure in the Red Lake belt, the other two being interpreted by the OGS to generally correlate with the location of two major gold deposits in the Red Lake camp. There is no record of previous exploration in the new project areas despite them being extensions of the Red Lake greenstone belt. Collectively, we now control 15,175 Ha (759 claim units) in this emerging exploration play. “The January 2021 OGS exploration report4 triggered major staking in the area of the interpreted greenstone extensions over a 50km strike length. At the same time, we targeted the greenstone closest to the main Red Lake belt based on our interpretation of public domain data and our historical familiarity with the Sidace gold deposit area (Evolution Mining/ Pacton (39%). We beli...