GoldON Commences Next Phase of Fieldwork at its 100%- Owned McInnes Lake Lithium-Pegmatite Prospect Property covers the McInnes Lake greenstone belt in a similar geological setting to Frontier Lithium’s Pak Lithium Project located 50 km to the northeast
FOR IMMEDIATE RELEASE
GoldON Commences Next Phase of Fieldwork at its 100%-
Owned McInnes Lake Lithium-Pegmatite Prospect
Property covers the McInnes Lake greenstone belt in a similar geological setting to
Frontier Lithium’s Pak Lithium Project located 50 km to the northeast
VICTORIA, BC – May 30, 2023 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON” or the
“Company”) is pleased to announce that fieldwork has commenced on its 100%-owned McInnes
Lake property (the “Property”) th at covers the majority of the McInnes Lake greenstone belt in
northwestern Ontario.
Fieldwork will consist of mapping and sampling to follow up on the elevated lithium (Li) values
newly discovered (50 to 1,126 ppm) in metavolcanic host rocks distributed proximal to the main
plutons on the Property that may reflect exomorphic dispersion outwards from exposed and blind
pegmatitic granite plutonic centres.
Figure 1. Location and scale of the McInnes Lake Property to Frontier Lithium’s Pak Project, with McInnes OGS geology.
The goals are to establish if lithium dispersion patterns are present around the McInnes North and
Lower Bay fertile granite plutons, attempt to find a bedrock source of the 1,126 ppm Li value, and
look for rare element minerals (i ncluding holmquistite, beryl, and spodumene) in the plutons and
adjacent external pegmatites. Several pegma tite minerals are white and could have been
easily overlooked by previous Ontario Geological Survey (OGS) mapping.
About the McInnes Lake Property:
The underexplored 12,598-hectare Property was originally staked for its deep crustal-scale features
and similarities to the Red Lake Camp. GoldON’s fieldwork has discovered several new showings
that confirm the presence of a fertile peraluminou s granite setting. Geological similarities include
the E1 fault that is inferred to pass right through the pluton area and may have been a controlling
structure for the emplacement of fe rtile granites, and related lithium-rich pegmatite melts. This is
a similar setting to the Pakeagama Lake peraluminous parent granite and derived LCT-petrogenetic
family pegmatites located 50 km to the northeast along the Bearhead fault system, where Frontier
Lithium1 has delineated NI 43-101 Measur ed & Indicated resources of 26 million tonnes (mt) of
1.62% Li2O and Inferred resources of 32.4 million tonnes of 1.41% Li2O.
The technical information presented in this ne ws release has been reviewed and approved by
Frederick W. Breaks, PhD, P. Geo, a qualified person for exploration, as defined by National
Instrument 43-101, Standards of Disclosure for Mineral Projects.
Figure 2. Granitic pegmatite sample from >70 m wide pegmatite zone on the east shore of McInnes Lake.
About GoldON Resources Ltd.
GoldON is an exploration compan y focused on discovery-stage prop erties located in the prolific
greenstone belts of nort hwestern Ontario, Canada. Our goal with a property is to add value by
defining (or redefining) the exploration opportunity, maintain ownership control during the value
creation phase of discovery, and then source a well-financed pa rtner capable of accelerating
discovery, resource definition, and development.
For more information, you can visit our website at goldonresources.com, download our investor
presentation by clicking here, and 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 “forward-looking st atements” that involve k nown 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Referenced Sources
1. Frontier Lithium:
https://www.frontierlithium.com/_files/ugd/dec7de_844a5e2cc2234a1babbbea1879ce5573.pdf