GoldON Completes 7,000 Metre Phase II Exploration Drilling at West Madsen in the Heart of Ontario’s Red Lake Gold Camp West Madsen adjoins Canada’s newest high-grade gold mine
FOR IMMEDIATE RELEASE
GoldON Completes 7,000 Metre Phase II Exploration
Drilling at West Madsen in the Heart of Ontario’s Red
Lake Gold Camp
West Madsen adjoins Canada’s newest high-grade gold mine
VICTORIA, BC – April 6, 2021 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON” or the
“Company”) is pleased to announce the completion of Phase II diamond dril ling at its West
Madsen Gold Project adjoining the new Pure Gold Red Lake Mine.
Figure 1: Phase II Target Area and Drill Hole Locations for the West Madsen Project
The black ellipse in Figure 1 above depicts the area of the int erpreted east-west trending Balmer-
Confederation contact along with the locations of the completed Phase I and II drill holes.
A total of sixteen drill holes, totaling 7,041 metres were completed in the Phase II drilling program
(See table 1 below). Prospective Balmer Assemblage volcanic rocks have been identified in ten of
the sixteen holes completed in the Phase II program. The mafic volcanic rocks are typically highly
strained, containing lenses of blue-grey silica and carbonate that are transposed with the foliation,
overprinted by diopside and amphibole, and separated by ribbons of microcline. Accessory
alteration products may include biotite and sericite. Sulphide mineralization varies locally in style
and abundance but tends to includ e pyrite-pyrrhotite-chalcopyri te+/-arsenopyrite. Visually, the
mafic units are similar in character and alteration to the gold-bearing mafic rocks observed at Pure
Gold Red Lake Mine.
Table 1: Phase II drill hole table.
Hole Easting Northing Length (m) Dip Azimuth
WM-20-08 431921 5643805 474 -50 0
WM-20-09 431566 5643957 150 -50 0
WM-20-10 430440 5643658 633 -50 355
WM-20-11 429915 5643733 379 -50 25
WM-20-12 430675 5643684 567 -45 355
WM-21-13 427495 5643649 588 -60 340
WM-21-14 427563 5643673 363 -50 340
WM-21-15 427420 5643637 446 -50 340
WM-21-16 427325 5643502 615 -50 345
WM-21-17 426840 5643516 567 -50 350
WM-21-18 427256 5643522 573 -45 335
WM-21-19 427772 5643702 339 -50 350
WM-21-20 428820 5643774 174 -50 0
WM-21-21 429426 5643744 252 -50 0
WM-21-22 429903 5643465 372 -50 340
WM-21-23 427664 5643687 549 -60 348
Of note in this program is WM-21-23, which intersected a very w ide package of mafic volcanic,
Balmer Assemblage rocks, intersected from 290 to 540 metres depth (true thickness is not known
at this time). It contains some of the most prospective geology observed on the Property to date as
much of the unit contains higher strain, weak to moderate diops ide replacing carbonate
stringers/veining, disseminated Pyrite>Pyrrhotite>Chalcopyrite and hosts localized Arsenopyrite,
minor quartz-stringers, interval s of garnet-biotite, and patchy to pervasive chlorite, amphibole,
biotite, alteration.
A total of 5,803 samples were collected in the Phase II program . Assay results were previously
reported for holes WM-20-08 through WM-20-12 (see news release of February 9, 2021). Once all
the final assays have been received from the Phase II program, a complete summary and
interpretation of the results will be released.
About the West Madsen Gold Project
Covering 5,862 hectares in the heart of the Red Lake Camp, the West Madsen Project is comprised
of the original Block A and B claim groups, where GoldON has th e right to earn a 100% interest
through an option agreement with Great Bear Resources (see news release of May 28, 2019); the
Flat Lake and Maden-Medicine Stone claim groups that GoldON acquired a 100% interest in from
Bounty Gold (see news release of January 7, 2021); and claims GoldON acquired via staking in
December (see Red Lake regional map).
The West Madsen Project is contiguous with the Pure Gold Red La ke Mine property, where they
poured first gold on December 29, 2020 and are ramping to comme rcial production capacity (see
Pure Gold’s news release of March 31, 2021). Pure Gold’s reserves and resources are hosted in a
seven-kilometre-long gold system that follows the major crustal break or contact between the
Balmer and Confederation assemb lages. This same Balmer-Confeder ation contact has been
exposed in outcrop 1.6 kilometres (km) west of the Pure Gold property boundary and is interpreted
to continue for ~8 km across Block A of GoldON’s property.
QA/QC and Core Sampling Protocols
Drill core was logged and sampled in a secure core storage faci lity located in Red Lake Ontario.
Core samples were cut in half, using a diamond cutting saw, and are analyzed at Activation
Laboratories Ltd. (Actlabs) in Thunder Bay, ON. All samples are analyzed for gold using a standard
50g Fire Assay-AA technique. Samples returning over 10.0 g/t gold are analyzed utilizing standard
50g Fire Assay-Gravimetric methods. Certified gold reference st andards and blanks are routinely
inserted into the sample stream, as part of GoldON's quality co ntrol/quality assurance program
(QAQC). No QAQC issues have been noted during this program.
Ian Russell, P. Geo., an independent qualified person as define d in National Instrument 43-101,
has reviewed and approved the technical contents of this news release on behalf of the Company.
About GoldON Resources Ltd.
GoldON is an exploration compan y focused on discovery-stage pro perties located in the prolific
gold mining belts of northwestern Ontario, Canada. Our current project portfolio includes five
properties in the Red Lake Mining Division (West Madsen, Red La ke North, Pipestone Bay,
McDonough and Bruce Lake) and a sixth 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]
Suite 179 - 2945 Jacklin Road, Suite 416
Victoria, BC, V9B 6J9
Forward-Looking Statements:
This news release may contain “f orward-looking statements” that involve known and unknown risks, uncertainties,
assumptions and other factors th at 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-looking 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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