Solstice Gold Corp. (TSX-V:SGC) has announced the acquisition of the Strathy Gold Project (SGP) located in the Temagami Greenstone Belt, Northeastern Ontario.
The project consists of 45 claims covering approximately 41 square kilometers in the Abitibi Subprovince.
This acquisition includes documented high-grade gold mineralization with significant exploration potential using modern techniques.
David Adamson, Solstice's chairman, stated: "SGP is an extensive land package containing documented, widespread high-grade gold mineralization in this part of the southern Abitibi Subprovince.
“Despite this demonstrated prospectivity, our core claim holdings have not been systemically explored in the past.
“This provides us with an excellent opportunity to apply modern exploration techniques that we believe have an excellent chance of discovery and delivering shareholder value in the near term."
The Strathy Gold Project includes parts of the Net-Vermilion Deformation Zone and the Link Lake Deformation Zone, which are known for significant gold values.
Infrastructure at the project site is robust, featuring power lines and a main highway.
Pablo McDonald, Solstice's chief executive, commented: "Over the course of the last several months our technical team’s diligent work led us to acquire this highly prospective land package in the Abitibi Subprovince.
"This is in keeping with our acquisition approach: to secure dominant land positions with significant exploration potential in established Gold Districts."
The acquisition includes an option agreement with 1544230 Ontario Inc. and Gravel Ridge Resources Ltd., requiring an initial payment of $20,000 in cash and 750,000 common shares.
Further payments are scheduled over the next three years to exercise the option.