Solstice Gold provides update on KGP project planning – Meliadine area gold claims, Nunavut, Canada
VANCOUVER, British Columbia, Feb. 04, 2020 (GLOBE NEWSWIRE) — 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 SolsticeSolstice 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, PhD
Executive ChairmanFor further information please visit our website at www.solsticegold.com or contact:Marty Tunney, PEng
[email protected]Forward Looking StatementsThis 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.