GoldON Mobilizes Diamond Drill and Outlines Exploration Plan for West Madsen Gold Project in the Heart of the Red Lake Camp Property adjoins Canada's next gold mine - the Pure Gold Red Lake Mine project where the first gold pour is scheduled 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 Mobilizes Diamond Drill and Outlines
Exploration Plan for West Madsen Gold Project in the
Heart of the Red Lake Camp
Property adjoins Canada's next gold mine - the Pure Gold Red Lake Mine project
where the first gold pour is scheduled before year's end
VICTORIA, BC November 16, 2020 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON” or
the “Company”) is pleased to report that a diamond drill and crew have begun mobilization at the
West Madsen Gold Project to initiate Phase II drilling.
Figure 1: Phase II Drill Plan for West Madsen Project
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
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 2).
The focus of the Phase II drilling program will be on the expan ded West Madsen - Block A (see
Figure 1 above) and the area of the bl ack ellipse that is contiguous wi th the Pure Gold Red Lake
Mine property where the first gold pour is scheduled for late 2 020 (Pure Gold’s news release of
October 27, 2020). Pure Gold’s reserves and resources include the Madsen deposit (FS status) and
the Fork, Russet South, and Wedge deposits (PEA status) that are hosted in a seven-kilometre-long
gold system that follows the major crustal break or contact between the Balmer and Confederation
assemblages. This same Balmer-Confederation 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
GoldON’s property.
The Phase II program is budgeted for up to 7,000 metres of diam ond drilling to aggressively test
the strike-extension of both the known gold mineralization to the east and to follow-up on the gold
mineralization discovered during GoldON’s Phase I drilling that returned 14.4 g/t gold over 0.5
metres (see news release of July 22, 2020 ). The black ellipse in Figure 1 depicts the area of the
interpreted east-west trending Ba lmer-Confederation contact and the systematically planned drill
holes that will test the extension of the stratigraphy within the structurally controlled corridor.
“GoldON has a unique opportunity to test for gold mineralizatio n along the prospective Balmer-
Confederation contact of the Red Lake Greenstone Belt,” said Mi ke Romanik, President of
GoldON. “Exploration drilling is all about discovery and with the addition of the recently acquired
claims we now control an eight kilometre interpreted extension of known gold-bearing stratigraphy
in the heart of the Red Lake Camp.”
Figure 3: Looking NE from West Madsen – Block A toward the Pure Gold Red Lake Mine Project
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
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 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.