GoldON Hires Chibougamau Diamond Drilling for West Madsen Gold Property in Ontario’s Red Lake Camp Property adjoins the Pure Gold Red Lake Mine project where first production is expected in late 2020
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 Property in Ontario’s Red Lake Camp
Property adjoins the Pure Gold Red Lake Mine project where first production is
expected in late 2020
VICTORIA, BC May 5, 2020 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON” or the
“Company”) is pleased to announce it has hired Chibougamau Diamond Drilli ng Ltd. for the
upcoming drill program at the West Madsen gold property (the “Property”).
GoldON has the right to earn a 100% interest in the Property th rough an option agreement with
Great Bear Resources (see news release of May 28, 2019 and regional claim map Figure 1).
The Property is comprised of two contiguous claim blocks (Block "A" and "B"), each roughly six
kilometres (km) by three km in size for a total area of 3,860 h ectares (see Figure 2). The focus of
the program will be initial drill testing of four of six main d rill targets that trend along in an east-
west direction and run sub-parallel to magnetic lineaments on Block A of the Property see Figure
3). These lineaments are interpreted to represent the contact between the Balmer and Confederation
assemblages which is a geological/structural contact that is si milar to the adjacent Pure Gold Red
Lake Mine property where first gold production is anticipated in late 2020. Mineralization hosted
on adjacent and/or nearby propert ies is not necessarily indicat ive of the mineralization hosted on
the West Madsen property.
“We look forward to working with Chibougamau Diamond Drilling a gain,” said Mike Romanik
President of GoldON. “They are currently drilling for Great Bear on their nearby Dixie project and
have an office and equipment in Red Lake. We expect drilling to begin within 30 days.”
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,
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. Active proje cts include the West Madsen
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
property in the Red Lake Gold Camp, an option/JV with Great Bea r Resources; the Bruce Lake
property that adjoins BTU Metals' Dixie Halo property and their TNT Target; and the 100% owned
Slate Falls project in the Patricia Mining Division, where numerous Au-Ag mineralized zones have
been identified over the 13-km breadth of the property. GoldON has 16,858,432 shares issued, all
our properties are in good standing and we are fully funded for our 2020 exploration programs.
For additional information: please visit our website at https://goldonresources.com, you can
download our latest 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]
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