GoldON Hires Major Drilling for McDonough Gold Project in Ontario’s Red Lake Camp Drill targets are well supported by coincident IP, geochem and geology
FOR IMMEDIATE RELEASE
GoldON Hires Major Drilling for McDonough Gold Project
in Ontario’s Red Lake Camp
Drill targets are well supported by coincident IP, geochem and geology
VICTORIA, BC – January 17, 2023 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON” or
the “Company”) is pleased to announce it has hired Major Drilling Group International Inc. for
its initial drilling program at the 100%-owned McDonough gold property (the “Property”) located
approximately 15 kilometres north of the town of Red Lake, Ontario. Drilling is scheduled to
commence before month end.
Figure 1: Regional geological location of the McDonough gold property within the Red Lake greenstone
belt. Source: Harris, J., Sanborn-Barrie, M., Pan agapko, D., Skulski, T and Parker, J. (2007). Gold
prospectivity maps of the Red Lake greenstone belt: Application of GIS technology. Canadian Journal of
Earth Sciences. 43. 865-893.
The Property lies along the contact and unconformi ty of the Huston Assemblage conglomerates
(2733-2743 million years [(Ma]) an d the Slate Bay Assemblage (Confederation) (<2903 Ma)
clastic sediments. The same Huston Assemblage conglomerates are in unconformable contact with
the Balmer Assemblage mafic and ultra-mafic rocks where the Red Lake Mine Complex (Campbell
and Red Lake gold mines) lies in close proximit y. Sediment unconformities are also proximal to
the Madsen and Starratt-Olsen gold mines southwest of Red Lake (Figure 1).
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 seven
properties in the Red Lake Mining District (McDonough, Spri ngpole East, Red Lake North,
Pipestone Bay, Pakwash North, McInnes Lake, and West Madsen) and an eighth property in the
Patricia Mining District (Slate Falls).
For additional information, please visit our website at goldonresources.com; you can download
our latest 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 “forwa rd-looking statements” that involve known 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.