GoldON Commences Follow-up Fieldwork at West Madsen Project in the Heart of the Red Lake Gold Camp Fieldwork is designed to generate follow up drill targets
FOR IMMEDIATE RELEASE
GoldON Commences Follow-up Fieldwork at West
Madsen Project in the Heart of the Red Lake Gold Camp
Fieldwork is designed to generate follow up drill targets
VICTORIA, BC – September 22, 2021 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON”
or the “Company”) is pleased to announce the start of follow-up fieldwork on its 100% owned
West Madsen gold project adjoining the new Pure Gold Red Lake Mine.
The 2020-2021 drill program returned consistently anomalous gold values and highly prospective
geology. The contact that separates the Balmer and Confederation assemblages has been
confidently identified within an 8-kilometre corridor of disrup ted regional magnetics that trends
onto the property from the Pure Gold Red Lake Mine property. This contact is highly prospective
and strongly associated with gold mineralization at the Pure Gold Mine and historical Starrett Olsen
Mine. Further advancement in ot her regional Red Lake explorati on projects has continued to
identify gold potential of the inte rmediate to felsic stratigraphy in terpreted to be associated with
the Confederation Assemblage.
Newly identified quartz-phyric fe lsic-intermediate volcanic rock s, within the Confederation
Assemblage, were intersected in our drill progra m and are highly strained and strongly silicified.
The samples returned slightly elevated gold values and elevated pathfinder elements (arsenic, lead,
zinc). Minerals containing these pathfinder elements are reported to be associated with gold
mineralization in the porphyritic felsic-intermediate volcanic rocks of Great Bear’s Dixie Project
(Technical Report on the Dixie Property, 2020). The potential surface exposur es of this unit are
within several soil-gas-hydrocarbon (SGH) identified gold zones which have not been investigated.
This will be the focus of the upcoming prospect ing program designed to identify additional drill
targets.
The planned fieldwork includes prospecting, mapping, and outcrop sampling within underexplored
areas of the Confederation Assemblage. The SGH survey conducted in 2019 generated six target
areas that were interpreted to be prospective for gold mineralization by ActLabs. These newly
identified prospective Redox zones generated a higher confidence for gold mineralization. (see
Figure 1). These areas overlie the felsic-inter mediate volcanic rocks of the Confederation
Assemblage and recent forestry logging programs have increased the accessibility to this area.
Figure 1: West Madsen, Block A compilation map showing soil gas hydrocarbon redox targets with anomalous Au
from diamond drilling and surface grab samples.
“We look forward to getting back out in the field to define follow-up drill targets,” said Mike
Romanik president of GoldON. “We are still in the early days of exploration at West Madsen.”
Ian Russell, P.Geo., an independent Qualified Pe rson as defined in NI 43-101, has reviewed and
approved the contents of this news release on behalf of the Company.
About GoldON Resources Ltd.
GoldON is an exploration compan y focused on discovery-stage prop erties located in the prolific
gold mining belts of northwestern Ontario, Canada. Our current project portfolio includes six
properties in the Red Lake Mini ng Division (West Madsen, Re d Lake North, Pipestone Bay,
Pakwash North, McInnes Lake, and McDonough) and a seventh property in the Patricia Mining
Division (Slate Falls).
For additional information: please visit our website at goldonresources.com, you can download
our latest investor presentation by clicking here and you can follow us on Twitter at
https://twitter.com/GoldONResources.
ON BEHALF OF THE BOARD
Signed “Michael Romanik”
Michael Romanik, President
GoldON Resources Ltd.
Direct line: (204) 724-0613
Email: [email protected]
179 - 2945 Jacklin Road, Suite 416
Victoria, BC, V9B 6J9
Forward-Looking Statements:
This news release may contain “forwa rd-looking statements” that involve known and unknown risks, uncertainties,
assumptions and other factors that may cause the actual results, performance or achievements of the Company to be
materially different from any future results, performance or achievements expressed or implied by the forward-looking
statements. Any forward-lo oking statement speaks only as of the date of this news release and, except as may be
required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking
statement, whether as a result of new information, future events or results or otherwise.
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TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.