GoldON Completes IP Survey and Prepares for Drilling at McDonough Gold Property in Red Lake, Ontario Drill targets are now well supported by coincident IP, geochem and geology
FOR IMMEDIATE RELEASE
GoldON Completes IP Survey and Prepares for
Drilling at McDonough Gold Property in Red Lake,
Ontario
Drill targets are now well supported by coincident IP, geochem and geology
VICTORIA, BC – June 8, 2021 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON” or the
“Company”) is pleased to provide an overview of th e induced polarization (IP) survey recently
completed on its McDonough gold property (the “Pr operty”) that is locate d 15 kilometres (km)
north of the town of Red Lake and straddles a key structural signature of many deposits within the
Red Lake Greenstone Belt (Figure 1).
Figure 1: Regional location of the McDonough Property and GoldON’s other Projects
GoldON completed a 7.68 line-km IP survey in March 2021 with the objective of testing
chargeability and resistivity res ponses over gold-in-soil anomalies that were coincident with a
regional unconformity.
The IP survey was subsequent to a study completed in 2020 by Orix Geoscience that included data
compilation of all known hist orical information along with a geological and structural
reinterpretation incorporating data from a 2020 heliborne hi gh resolution MAG survey. Results
from the Orix study included the identification of a primary target area within the property where
elevated soil samples overlie the contact between an iron-formation clast dominated conglomerate
(Huston Assemblage) and intermediate to fels ic volcanics proximal to northeast and northwest
intersecting structures (see Figure 2 and GoldON’s news release of September 29, 2019).
Figure 2: McDonough regional geology and structural interpretation with gold-in-soil sample results.
The IP survey, interpreted by Dynamic Discovery Geoscience, defined a total of 23 chargeable IP
axes. The chargeable responses coincide very well with the McDonough gol d-in-soil anomalies
where A-horizon soil samples returned values from 2-229 ppb over an iron formation clast
supported conglomerate in an unconforma ble contact with mafic volcanics ( Figure 3 ). The
conglomerate belongs to the Huston Assemblage , which is proximal and associated with the
Cochenour, Campbell and Red Lake mine complex 15 km to the south.
Figure 3: McDonough IP anomaly axes over geology with gold-in-soil results
“The setting at McDonough is ideal for gold mine ralization,” said Mike Romanik president of
GoldON. “We have our permits in place and are awaiting drilling bids to test the coincident gold-
in-soil and IP anomalies in this very favourable geological setting.”
Mike Kilbourne, P. Geo, an independent qualif ied person as defined in NI 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 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,
McDonough, McInnes Lake and Pakwash North) 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:
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assumptions and other factors that may cause the actual results, performance or achievements of the Company to be
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