Solstice Gold Corporation (TSXV:SGC)
(“Solstice”, the “Company”, “its”, “we” or “our”) is
pleased to announce that the Company has completed and filed a new
NI 43-101 Technical Report (“Technical Report”) on the Company's
866 km2 KGP Gold Project (the “Project”). The Project is 26 km
northeast of Rankin Inlet, Nunavut and is only 15 km from Agnico
Eagle’s Meliadine Gold Mine. The purpose of the report was to
update considerable technical information generated since 2018.
The report titled "TECHNICAL REPORT ON THE KGP PROJECT, KIVALLIQ
REGION, EASTERN NUNAVUT TERRITORY, CANADA", dated March 17, 2020
(the "Report"), was completed by Roscoe Postle Associates Inc.
(RPA), now part of SLR Consulting Ltd, under the supervision of
Paul Chamois M.Sc.(A), P.Geo., a qualified person under National
Instrument 43-101. The KGP Report is available for viewing on the
Solstice website at www.solsticegold.com and the SEDAR profile for
Solstice Gold Corporation at www.sedar.com.
Conclusions
- The Technical Report concludes "RPA is of the opinion that KGP
is a very attractive, early stage exploration project with good
potential to host significant gold mineralization and warrants a
continued systematic exploration effort including a significant
drilling component."
- RPA recommends a Phase I exploration program and budget which
consist of additional geological mapping and till sampling as well
as a 6,000 metre reverse circulation (RC) drilling program to test
additional high priority targets.
- Contingent on the results of the Phase I program, RPA
recommends a Phase II exploration program and budget which consists
of continued geological mapping and detailed till sampling, induced
polarization (IP) surveying in areas where appropriate, including
the Midway and Qaiqtuq target areas, preliminary testing of high
priority areas with additional RC drilling, and diamond drilling to
follow up on significant RC drilling results.
Executive Chairman David Adamson stated “We view this new
Technical Report as a positive validation of our systematic
exploration strategy and modelling to date on the KGP. The
Technical Report outlines numerous drill-ready targets and we
invite shareholders and interested parties to review the report to
best understand the progress we have made to date.”
It is important to note that all our main target areas, covering
~375 km2, require no expenditures to keep these in good standing
for well over six years and have no underlying costs. This is
because we ensured that work since 2018 in multiple areas satisfied
work requirements and protected our key targets against future
unforeseen events.
Given the current market environment we are looking at ways to
manage costs. By mutual agreement, Ian Russell P.Geo. will step
down as VP Exploration effective today but will continue consulting
to the Company on an as needed basis. Ian has played an important
role in advancing the project and we look forward to his continuing
role. The exploration function will be handled by Senior Geological
Consultant Sandy Barham M.Sc. and David Adamson Ph.D. Management
has already been working on a reduced salary basis since November
2019 as part of our cost management program.
About Solstice
Solstice is a gold-focussed exploration company
engaged in the exploration of its 866 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 only 15 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.
Paul Chamois M.Sc.(A), P.Geo. 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”, “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. 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, the future impacts of the COVID 19
pandemic and government response to such pandemic, the ability of
the Company to continue exploration at its project in lieu of the
pandemic and the risk of future lack of access to the project as a
result thereof, 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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