GoldON Mobilizes Diamond Drill to Test Primary Targets at West Madsen Gold Property Property adjoins the Pure Gold Red Lake Mine project - the highest-grade underground development project in Canada expecting first gold pour in late 2020
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
FOR IMMEDIATE RELEASE
GoldON Mobilizes Diamond Drill to Test Primary
Targets at West Madsen Gold Property
Property adjoins the Pure Gold Red Lake Mine project - the highest-grade
underground development project in Canada expecting first gold pour in late 2020
VICTORIA, BC May 19th, 2020 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON” or the
“Company”) is pleased to report that Chibougamau Diamond Drilling is mobilizing a drill rig and
crew to commence testing primary drill targets on 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 c ontiguous claim blocks (Block "A" and "B"), each roughly six
kilometres (km) by three km in size for a total area of 3,860 hectares (see Figure 2).
The focus of the fully-funded drilling program will be initial testing of four of six main drill 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 be tween
the Balmer and Confederation assemblages which is a geological/structural contact that is similar
to the adjacent Pure Gold Red Lake Mine property where first gold production is anticipated in late
2020. Mineralization hosted on ad jacent and/or nearby propertie s is not necessarily indicative of
the mineralization hosted on the West Madsen property.
The primary drill target areas were defined by detailed Soil Ga s Hydrocarbon (SGH) surveys as
well as prospecting and mapping along the prospective Balmer-Confederation geological/structural
contact. SGH surveys have been used by Great Bear on their flag ship Dixie Gold Project, and
elsewhere in Red Lake, and have been successful in identifying prospective gold-bearing structures
that are not observed at surface due to overburden coverage. Th e SGH targets and geological
observations are coincident with a series of east-west trending geophysical magnetic lineaments
and are interpreted to be the extension of the major crustal br eak that trends west from the Pure
Gold property onto the West Madsen property.
This major crustal break is a primary conduit for gold-bearing fluids and is related to most of the
major gold deposits in the Red Lake Gold Belt. The interpreted major crustal break transects across
the West Madsen Block A through the primary and secondary SGH targets shown in Figure 3. The
drilling program is currently planned for an initial 2,000 metr es (m) with holes designed to test a
number of these targets to vertical depths of 225 m below surface.
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 defined 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. Active proje cts include: the West Madsen
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 16,908,432 shares issued, all
our properties are in good standing and we are fully funded for our initial 202 0 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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