Solstice Gold Corp said it has welcomed early indications from first phase drilling at its Red Lake Extension (RLX) project, which suggest the property could be an extension of the famous gold mining camp in Ontario.
The company's initial ten to 15 hole program, for 5,000 metres (m), was designed to test three main targets to an average depth of around 250m. So far, the explorer has sunk four holes, for 2,075m, while a fifth is in progress.
"As we approach the halfway mark of our first program at RLX, we're excited to provide more information to support our thesis of a potential extension of the Red Lake Camp," said Mike Timmins, Solstice CEO, in a statement.
"Observations made around the kilometer scale and extent of alteration, as well as the presence of sulfides and iron formation confirm the various target settings we anticipated. These early indications reinforce our premise for assembling an attractive land position with large-scale regional features, proximal to interpreted deep-tapping structures and focusing our technical work on this under-explored corner of the Camp," he added.
READ: Solstice Gold Corp starts Phase 1 drilling at 100%-owned Red Lake Extension project
Timmins told investors that samples from these first holes, including wide alteration zones, have now been submitted for analysis and the company expects to receive the results in the fourth quarter.
As reported in June this year, the three targets being focused on at the project are Central, South Fold, and North Central.
Solstice noted that drilling at the Central target had suggested the altered zones can be correlated over a strike length of at least 1.1 kilometres (km), while corresponding electro-magnetic responses of these zones can be traced for over 7 km northwards. Ongoing drilling is planned to test these extensions.
RLX hosts a road-accessible, 16 km, largely unexplored extension of the Red Lake Greenstone belt and lies in the vicinity of a major deep-tapping fault inferred by government geologists and researchers from seismic data, the company has said.
Solstice describes itself as an explorer with quality, district-scale gold projects in established mining regions of Canada. Its 180 square km Red Lake Extension (RLX) and New Frontier projects lie in the northwestern extension of the prolific Red Lake Camp in Ontario and around 45 km from the Red Lake Mine Complex owned by Evolution Mining.
The company is funded for phase one drilling at RLX.
Contact the writer at giles@proactiveinvestors.com