VANCOUVER, British Columbia, June 12, 2024 (GLOBE NEWSWIRE) — Solstice Gold Corp. (TSXV: SGC) (“Solstice”, “we”, “our” or the “Company”) is pleased to announce the commencement of a focused gold in till sampling program at its Atikokan Gold Project (the “Property”) in the Hammond Gold Camp in NW Ontario.
The 189 km2 Atikokan Property is located approximately 120 km west of Thunder Bay and 26 km east of the Hammond Reef Gold Project owned by Agnico Eagle Mines Limited1 and hosts several prominent NE trending structures. Solstice believes that regional exploration work in recent years by both prospectors and Agnico as well as analysis of regional lake sediment data have demonstrated good potential for new gold discoveries associated with NE trending faults within the Marmion Batholith.
Pablo McDonald, Solstice CEO stated, “we recently undertook an extensive analysis of regional lake sediment data as well as past till sampling programs in the Hammond Reef area, west of our landholdings. Based on the results, we have decided to undertake a focused till sampling program around one of the largest lake sediment anomalies in the Marmion Batholith, which occupies a large area in the centre of our Atikokan Property. We note that both lake sediment and gold in till anomalies are developed over the nearby Hammond Reef Gold Project. Based on the similarity of the lake sediment anomalies at Hammond Reef and on our Atikokan Property, we plan to employ detailed till sampling to identify possible source areas for the gold anomalies on our claims.”
Lake Sediment Anomalies on Solstice claims
Analysis of lake sediment data by Solstice within the Marmion Batholith collected by the OGS2, and locally in the Lost Moose Lake area3 identifies two large, and several smaller gold in lake sediment anomalies on Solstice claims (see Figure 1). Till sampling by Osisko Mines Ltd on the Hammond Reef Gold Property in 20124 show that both gold in till and lake sediment anomalies are spatially associated with the Hammond Reef Deposit. Noting the potential significance of the Lost Moose Lake anomaly, the OGS observes that the Lost Moose “lake sediment geochemical signature is analogous to the signature of Marmion Lake batholith-type gold occurrences.”5 Limited field work in the western edge of the area of lake sediments anomalies has identified a large area (1000 m2) of barren quartz veining which may be indicative of a more extensive, unexplored hydrothermal system (Figure 1).
The lake sediment anomaly on the Atikokan Property is also one of the largest in the Marmion Batholith and is similar in magnitude to the anomaly found at Hammond Reef. Solstice’s Spring 2024 till sampling program is designed to test the area of this lake sediment anomaly using the same methodology as the 2012 till sampling program at Hammond Reef. If there is a gold in till anomaly spatially associated with the lake sediment anomaly on the Atikokan Property, Solstice believes that it would be a positive indication for the presence of in situ gold on our claims.
The Company wishes to caution that there is no known mineral deposit on its claims and that there is no assurance that the data or exploration programs discussed herein will define significant gold mineralization on its claims.
Figure 1: Atikokan Property Location in Marmion Batholith
Solstice Till Sampling Program, 2024
To design and undertake the program, Solstice has engaged Overburden Drilling Management (“ODM”), who advised on the 2012 Hammond Reef till sampling program design and processed samples for gold grains. Leaders in heavy mineral geochemistry, ODM pioneered the use of till sampling to identify gold anomalies in overburden, which has led to numerous mine discoveries throughout Canada and the world.
The Atikokan till sampling program will employ the same methodology documented for the 2012 Hammond Reef Property till sampling program. There is extensive till-bedrock terrain throughout the target area, which is ideal for quality till sampling. The approximately 10-kilogram samples will be collected from the C-horizon soil layer (immediately overlying bedrock), processed, tracked, and shipped to ODM’s Nepean laboratory for analysis. Sample material will be thoroughly inspected for the presence of gold-indicator minerals. Gold grains that are identified within the samples will be counted, optically examined, and classified by morphology (pristine versus reshaped) to ascertain the transport distance from their original bedrock source. Upon completion of these studies, the heavy mineral concentrates will be submitted to an independent laboratory for assaying.
References:
- Agnico Eagle Website: https://www.agnicoeagle.com/English/operations/reserves-and-resources/default.aspx.
- Lake sediment Geochemistry of Ontario 2020:, https://www.geologyontario.mines.gov.on.ca/publication/LakeGeochemON
- Filed Assessment data: http://www.geologyontario.mndm.gov.on.ca/mndmfiles/afri/data/records/20000006569.html
- Madon (2012): Report on the 2010 Exploration Activities, Hammond Reef Property, report prepared for Osisko Hammond Reef Gold Ltd, May 2012, https://www.geologyontario.mndm.gov.on.ca/mndmfiles/afri/data/imaging/ 20000007582/20011202.pdf
- Campbell, D and Puumala, P. Lost Moose Lake area lake sediment gold anomalies near Atikokan; in Ontario Geological Survey, Resident Geologist Program, Recommendations for Exploration 2017-2018, p.80-83.
About Solstice Gold Corp.
Solstice is an exploration company with quality, district-scale gold and lithium 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 district-scale Atikokan Gold Project is approximately 26 km from the Hammond Reef Gold Project owned by Agnico Eagle Mines Limited and hosts some of the strongest gold lake sediment anomalies in the Marmion Batholith. 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 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. Over $2.5 million in value and three 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.
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
[email protected]
Forward-Looking Statements and Additional Cautionary Language
This news release contains certain forward-looking statements (“FLS”) including, but not limited to rare metal pegmatites prospectively, the need for more prospecting and analysis, reconnaissance prospecting in currently unexplored areas of the project, the focus of follow-up efforts on promising geochemical and mineralogical anomalies, the potential for LCT pegmatites to be high, and the extension of in-depth systematic prospecting and sampling program in the fall. 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 fall sampling and prospecting, that pegmatite 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/576c1715-2fee-42e8-ad03-cb121302440b
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