GoldON Hires Chibougamau Diamond Drilling for West Madsen Gold Project in Ontario’s Red Lake Camp Property adjoins Canada’s next gold mine - the Pure Gold Red Lake Mine project where the first gold pour is expected before year’s end
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
FOR IMMEDIATE RELEASE
GoldON Hires Chibougamau Diamond Drilling for West
Madsen Gold Project in Ontario’s Red Lake Camp
Property adjoins Canada’s next gold mine - the Pure Gold Red Lake Mine project
where the first gold pour is expected before year’s end
VICTORIA, BC November 12, 2020 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON” or
the “Company”) is pleased to announce it has hired Chibougamau Diamond Drilling Ltd. for the
upcoming drill program at the West Madsen gold project (the “Project”).
Fall drilling will focus on the expanded West Madsen - Block A (see Figure 1 above) and the area
of the black ellipse that is contiguous with the Pure Gold Red Lake Mine property where the first
gold pour is scheduled for late Q4 (Pure Gold’s news release of October 27, 2020). Pure Gold’s
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
reserves and resources are hoste d in a seven-kilometre-long gol d system that follows the major
crustal break or contact between t he Balmer and Confederation a ssemblages. This same Balmer-
Confederation contact has been exposed in outcrop 1.6 kilometre s (km) west of the Pure Gold
property boundary and is interpreted to continue for ~8 km across GoldON’s property.
Notably, Pure Gold’s Wedge Zone is the southward extension of their gold system that lies within
a km of the GoldON property boundary (see Figure 2 below). In their October 27, 2020 news
release, Pure Gold reported new surface drilling results at Wed ge highlight the strong continuity
of the high grade gold mineral ization, both down plunge and alo ng strike, reinforcing the Wedge
as a high priority for resource growth. Mineralization hosted on adjacent and/or nearby properties
is not necessarily indicative of the mineralization hosted on the West Madsen properties.
“We are fortunate to be able to assemble the same team as earli er this year with Chibougamau
looking after the drilling and R imini Exploration and Consultin g designing and managing the
program,” said Mike Romanik, President of GoldON. “We expect drilling to begin within 30 days.”
The West Madsen Project covers over 4,700 hectares and is comprised of the West Madsen (Block
A and B) claims, where GoldON has the right to earn a 100% interest through an option agreement
with Great Bear Resources (see news release of May 28, 2019 ); and the Flat Lake and Madsen-
Medicine Stone claim groups that adjoin Block A, where GoldON c an acquire a 100% interest
through an option agreement with Bounty Gold (see news release of July 29, 2020, and the Red
Lake regional map – Figure 3).
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 Chibougamau Diamond Drilling Ltd.
Chibougamau Diamond Drilling has been in operation for over 50 years and specializes in diamond
drilling. They develop and build their own drill rigs and currently own 35 drills including surface,
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
underground and heliportable rigs. Headquartered in Chibougamau , Quebec they have branch
offices in Rouyn-Noranda, Thunder Bay, White River and Red Lake.
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 four
properties in the Red Lake Mining Division (West Madsen, Pipestone Bay, McDonough and Bruce
Lake) and a fifth 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
Direct line: (204) 724-0613
Email: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.