GoldON Provides Drilling Update at West Madsen Gold Property in Ontario’s Red Lake Camp Property adjoins the Pure Gold Red Lake Mine project – Canada’s next gold mine with first production scheduled for late 2020
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
FOR IMMEDIATE RELEASE
GoldON Provides Drilling Update at West Madsen
Gold Property in Ontario’s Red Lake Camp
Property adjoins the Pure Gold Red Lake Mine project – Canada’s next gold mine
with first production scheduled for late 2020
VICTORIA, BC June 24th, 2020 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON” or the
“Company”) is pleased to provide an update on the initial diamond drillin g program recently
completed 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 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 objective of the drilling prog ram was to test four of six m ain drill target areas trending east-
west that run sub-parallel to magnetic lineaments on Block A of the Property (see Figure 3). These
lineaments are interpreted to r epresent the contact between the Balmer and Confederation
assemblages which is a geological/structural contact similar to the adjacent Pure Gold Red Lake
Mine property (Mineralization hosted on adjacent and/or nearby properties is not necessarily
indicative of the mineralization hosted on the West Madsen property).
Three of the four planned target areas were tested during this initial drilling program. A total of
seven diamond drill holes were completed for a totalling 2,237. 25 metres. The company is now
awaiting assay results and further updates will be provided as they are received.
A summary of the drill hole targets follows:
Hole # Length Target
WM-20-01 264.00 WM-20-01, 02 & 03 were drilled to test for a large soil gas hydrocarbon (SGH)
gold pathfinder anomaly. The anomalies are on the margin of a SGH redox cell
and correspond to anomalous gold-bearing samples collected during a
prospecting program.
WM-20-02 282.00
WM-20-03 267.00
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
WM-20-04 263.25 WM-20-04 was designed to test a large linear magnetic anomaly at the centre of
a large Redox cell with a corresponding SGH “gold” anomaly.
WM-20-05 402.00 WM-20-05, 06 & 07 were drilled to test for potential ultramafic stratigraphy
under Tack Lake. Drilling targeted a series of magnetic highs and magnetic
breaks along strike from a large magnetic high that underlies ultramafic float
collected during the 2019 summer prospecting program. This corridor is along
strike from the projected western extension of an east-west magnetic trend from
Pure Gold's Red Lake Mine property.
WM-20-06 318.00
WM-20-07 441.00
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 Slate Falls
project in the Patricia Mining Division, where numerous Au-Ag m ineralized zones have been
identified over the 13-km breadth of the property. GoldON has 1 7,208,432 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]
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.