Solstice Gold provides update on KGP project planning – Meliadine area gold claims, Nunavut, Canada
05 February 2020 - 1:00AM
Solstice Gold Corp. (TSXV: SGC) (“Solstice”, the
“Company”, “its”, “we” or “our”) provides the following guidance
regarding plans to advance its 813 km2 Meliadine area gold claims,
referred to as the KGP (formerly “Kahuna Gold project”).
A new compilation and updated interpretation of
the KGP is nearing completion. This interpretation benefits from
the addition of Sandy Barham, senior project consultant, to our
exploration team. Sandy has 20+ years of experience in the region
and his work is reproduced extensively in public domain maps and
interpretations in the Meliadine area on adjacent claims currently
owned by Agnico Eagle Mines Ltd.
Included in the updated interpretation will be a
first-time, 1:25,000 scale compilation of geology of the entire
district based on public domain data and proprietary data from the
KGP. This forms a solid foundation for target generation on the
KGP. To date, we have identified over 20 drill target areas,
ranging in strike length from 0.75 km to several km which we will
outline once the compilation is complete. As well, the Company has
commissioned Roscoe Postle and Associates Inc. (“RPA”) to update
the current NI 43-101 on the property to reflect the generation and
interpretation of vast amounts of new exploration data collected
since early 2018.
“We aim to further demonstrate that the 813 km2
KGP represents the geological extension of an emerging gold belt
(Meliadine) and that it contains numerous drill-ready targets. Our
core target areas have no underlying, required expenditure
commitments for at least six years. We can thus balance our desire
to aggressively explore this unique opportunity with project and/or
corporate equity dilution,” stated David Adamson, Executive
Chairman.
About Solstice
Solstice is a new gold-focussed exploration
company engaged in the exploration of its 813 km2 (100%) district
scale KGP and certain other rights covering an adjacent 683 km2,
all with no underlying option or earn in payments. KGP is located
in Nunavut, Canada only 26 km from Rankin Inlet and approximately 7
km from the Meliadine gold deposits owned by Agnico Eagle Mines
Ltd. Solstice has 69.5 million shares outstanding.
Solstice is committed to responsible exploration
and development in the communities in which we work. For more
details on Solstice Gold and the KGP please see our Corporate
Presentation available at www.solsticegold.com.
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.
Ian Russell, P.Geo., Vice President Exploration,
is the Qualified Person as defined by NI 43-101 standards
responsible for reviewing and approving the technical content of
this news release.
On Behalf of Solstice Gold
Corp.
David Adamson, PhDExecutive Chairman
For further information please visit our website
at www.solsticegold.com or contact:
Marty Tunney,
PEngPresidentinfo@solsticegold.com
Forward Looking Statements
This news release contains certain
forward-looking statements (“FLS”) relating but not limited to the
Company’s expectations, intentions, plans and beliefs. FLS can
often be identified by forward-looking words such as “approximate
or (~), “emerging”, “goal”, “plan”, “intent”, “estimate”,
“expects”, “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. FLS in this news release also include, but
are not limited to, the extent and timing of described programs and
ground work, such as rock sampling, drilling, geophysics, mapping,
till sampling and analysis. Geological interpretations are FLS and
are subject to change based on additional data and/or further
analysis. FLS in this news release include comparison with certain
geological features at an adjacent development property. There can
be no guarantee that continued exploration at the KGP, which is at
an early stage of exploration, will lead to the discovery of an
economic gold deposit. Factors that could cause actual results to
differ materially from any FLS include, but are not limited to,
delays in obtaining or failures to obtain required governmental,
environmental or other project approvals, inability to locate
source rocks, inflation, changes in exchange rates, fluctuations in
commodity prices, delays in the development of projects, regulatory
approvals and other factors. While the Company believes the
boulders are sourced locally for the reasons outlined in this news
release, there can be no certainty that their source is local, or
that it will be located on Solstice claims. 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.
This news release contains information with
respect to adjacent or similar mineral properties in respect of
which the Company has no interest or rights to explore or mine.
Readers are cautioned that the Company has no interest in or right
to acquire any interest in any such properties, and that mineral
deposits on adjacent or similar properties are not indicative of
mineral deposits on the Company’s properties. Past performance is
no guarantee of future performance and all investors are urged to
consult their investment professionals before making an investment
decision.
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