The Qaiqtuq Gold Project is located in the Northern Canadian Territory of Nunavut, between the settlements of Rankin Inlet and Chesterfield Inlet and approximately 15 km from the world class Meliadine gold mine owned by AgnicoEagle Mines Limited. Qaiqtuq is comprised of a district scale land package of 866 km2 (Primary rights, 100% owned by Solstice) and exclusive Secondary rights on an adjacent 806 km2, all with no underlying option or earn in payments.
Primary Rights include all mineral rights for non-diamond and gemstones excluding minerals found in kimberlite. Dunnedin Ventures Inc. holds Secondary Rights on 836 km2 of Solstice's Primary claims. Secondary Rights give the holder the right to propose exploration programs on the property related to their mineral rights. Such programs are granted at the discretion of the Primary Rights holder. The Agreement allows exclusive right for the parties to exchange rights on their respective claims.
Qaiqtuq is located in the Archean Rankin Inlet Greenstone Belt (also termed Meliadine Greenstone Belt), which is host to the Meliadine gold deposit owned by Agnico, in the Churchill Structural Province of the northern Canadian Shield.
The belt consists of Mafic volcanic, sedimentary and gabbroic intrusive rocks that have been poly-deformed, folded and metamorphosed. The property is cut by numerous northwest and east-west trending major faults similar in orientation to the Pyke Fault system, which defines the Meliadine trend and is located proximal to all known gold deposits at Meliadine. On the property, widespread gold mineralization has been identified by regional till sampling and rock sampling (float and outcrop). Results to date show a clear association with magnetic anomalies (both high and low magnetic features indicative of changes in rock type and high strain zones or faults) and with intersections of faults and folded rock sequences.
The scale of the structures and gold anomalies is very large and individual structures can be traced for several 10’s of kilometres. The cumulative strike length of the greenstone belt across the property is estimated at 235 km. For comparison, the Rankin Inlet Greenstone belt is a smaller scale version of the world class Abitibi Greenstone Belt which spans across 650 km through Ontario and Quebec in eastern Canada and is host to many prolific gold and polymetallic mines.
Technical Report on the Qaiqtuq Project, Kivalliq Region, Eastern Nunavut Territory, Canada
For additional details please read the most recent NI 43-101 Technical Report available at www.sedar.com.