Solstice Gold Jumps 38% on Strathy Consolidation Deal

Solstice Gold Corp. (TSXV: SGC) shares surged 38% to C$0.09 on the TSX Venture Exchange after the company said it expanded its Strathy Gold Project in Ontario to roughly 57 square kilometers.

The company signed an agreement to acquire two patented claims totaling 24 hectares that host the Leckie Gold Zone, which includes a 160-meter-deep shaft, underground development on five levels and more than 23,000 meters of historical drilling. The deal also covers 43 unpatented mining claims totaling 9.4 square kilometers adjacent to Solstice's Red Cedar Discovery.

The LGZ has been drilled intermittently since 1933, when Manitoba and Eastern Mines Ltd. sank a two-compartment shaft. Stroud Resources later completed roughly 19,000 meters of drilling from 1985 through 1996. Of the 133 drillholes with available assays, 62% contain intercepts at or above 3.0 grams per metric ton gold over a minimum core length of 1.5 meters, the company said.

Historical access restrictions limited drilling to relatively shallow depths. Ninety percent of the intercepts are less than 250 meters vertically below surface, and 67% are less than 150 meters. The zone is open along strike and to depth, Solstice said.