GoldON Provides Prospecting and SGH Soil Survey update on West Madsen Project in Ontario’s Red Lake Gold Camp West Madsen Property adjoins Pure Gold’s Madsen Project where first gold production is anticipated in late 2020
FOR IMMEDIATE RELEASE
GoldON Provides Prospecting and SGH Soil Survey
update on West Madsen Project in Ontario’s Red Lake
Gold Camp
West Madsen Property adjoins Pure Gold’s Madsen Project where first gold
production is anticipated in late 2020
VICTORIA, BC, September 4, 2019 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON” or
the “Company”) is pleased to provide an exploration update on the West Madsen gold property
(See Claim Map) recently optioned from Great Bear Resources (see news release of May 28, 2019).
Highlights of exploration results to date include:
Discovery of potential ultramafic rocks on the Property has sig nificant implications given
that most of the historical gold production and current reserve s a t P u r e G o l d ’ s M a d s e n
Project are hosted within the Balmer Assemblage in close proximity to the ultramafic rocks.
SGH soil survey results identified a potential redox cell with three associated areas for
potential gold mineralization (Figure 4).
GoldON’s summer fieldwork on the West Madsen property included a property-scale, grassroots
prospecting survey and a 3-D Spatiotemporal Gas Hydrocarbon (“SGH”) soil survey.
The West Madsen property is directly adjacent to Pure Gold’s Madsen Property and is interpreted
to host the extension of the Balmer Assemblage rocks of the Red Lake Greenstone Belt. This
assemblage is host to Pure Gold’s Madsen Red Lake Gold Mine with a historical production of 2.6
million ounces of gold and a current indicated resource of 2,063,000 ounces gold at 8.9 g/t gold (in
7.2 million tonnes), an inferre d resource of 467,000 ounces gol d at 7.7 g/t gold (in 1.9 million
tonnes) (see NI 43-101 Technical Report filed July 5, 2019 www.puregoldmining.ca).
Prospecting and geological mapping on West Madsen Block A has i dentified two ultramafic
boulders on the shoreline of an is land in Tack Lake that are in terpreted to be part of the Balmer
Assemblage volcanic rocks. This ultramafic stratigraphy was not previously recognized on the
2004 regional Geological Survey of Canada Sanborn-Barrie et.al. geology map (GSC Open File
4594). The ultramafic boulders, measuring 1.0 by 1.5 metres are sub-angular in nature and indicate
that they are locally sourced. At the adjacent Madsen Project ( 6 km to the east) Pure Gold states:
“Primary lithological control on gold distribu tion includes proximity to the contacts of an
ultramafic unit within the upper several hundred metres of the Balmer Assemblage. Most gold
mineralization is located within approximately 100 m of one of these ultramafic contacts, in rock
characterized by strong to intense alteration ” (see National Instrument 43-101 Technical Report
filed July 5, 2019 www.puregoldmining.ca).
“The discovery of these potentially local-sourced ultramafic ro cks on the Property has significant
implications given that most of the historical gold production and current reserves at Pure Gold’s
Madsen Project are hosted within the Balmer Assemblage in close proximity to the ultramafic
rocks,” said Mike Romanik president of GoldON. “These initial exploration results at West Madsen
are particularly exciting in light of the acceleration of explo ration and mine development in the
surrounding area.”
Given the indication of potential key stratigraphy on the Prope rty, select samples of mafic rocks
sampled from outcrop, along with the ultramafic rocks, will be analyzed for Rare Earth Elements
(REE) so that their geochemical normalized profiles can be comp ared to those of typical Balmer
and Confederation assemblage rocks. The results for these REE follow-up samples are pending.
Prospecting Program
The prospecting survey collected a combined 218 rock grab sampl es from West Madsen Block A
and Block B, with the majority of samples collected from outcrop (Figure 1).
Figure 1: Prospecting and soil survey locations for the West Madsen Property
On Block A the results returned broad, low-grade gold anomalies near the projected contact of the
Balmer and Confederation Assemb lages, including 1.25 g/t gold f rom a banded iron formation
(Figure 2). These results are located approximately 4 kilometres (km) west of Pure Gold’s Wedge
Zone. During the summer of 2019 Pure Gold commenced a 12,000 metre surface diamond drilling
program at the Madsen Property which included surface diamond d rilling at the Wedge Zone.
Results from that program have expanded the Wedge deposit exten t with several new bonanza
grade gold intercepts including 108.5 g/t gold over 1.0 metres, 94.6 g/t gold over 1.0 metres and
13.8 g/t gold over 1.0 metres (Pure Gold news release of July 30, 2019).
Figure 2: Anomalous gold along projected contact of Balmer and Confederation Assemblages with
location of ultramafic boulders on Tack Lake.
Block B samples taken were primarily felsic-intermediate volcan ic rocks with varying degrees of
sulphide mineralization, quartz veining and alteration. Twenty- one samples were collected
southwest of Lower Medicine Stone Lake with all but four return ing anomalous results up to 153
ppb gold (Figure 3).
Figure 3: Prospecting samples from Block B. Ci rcle highlights an area with relatively little
exploration but majority of samples taken were anomalous for gold.
3-D Spatiotemporal Geochemical Hydrocarbon Soil Survey
A total of 451 soil samples were collected from Block A for a 3 -D Spatiotemporal Geochemical
Hydrocarbon (SGH) soil survey. The survey results identified a potential redox cell with three
associated areas for potential gold mineralization (Figure 4).
Figure 4: SGH survey on Block A with Actlabs interpreted redox zone and potential gold targets.
SGH is a versatile geochemical exploration technique offered by Activation Laboratories Ltd. that
is optimal for areas which may not have a well-developed soil h orizon. This analytical technique
does not directly test for gold mineralization but analyzes for the hydrocarbons that are released by
bacteria which feed on the inorganic compounds that are strongl y associated with mineralization.
The hydrocarbons, which are specif ic to the targeted commodity, are released at depth and then
present themselves in a variety of surficial materials.
GoldON’s option partner, Great B ear Resources, completed a 145 sample SGH survey at their
Dixie Project. This survey was successful in identifying the kn own high-grade mineralization of
the Hinge and Limb Zones. After the success of that survey, Great Bear added an additional 2,100
sample SGH soil survey over the Bear-Rimini discovery area (Gre at Bear news release of August
1, 2019).
Independent analysis of the SGH survey results on Block A provi ded by Activation Laboratories
Ltd. (Report dated Aug 7, 2019) contained the following highlights:
Figure 4 shows the anomalies from the most reliable SGH Pathfi nder Class in predicting
the presence of gold mineralization. This map shows the anomalies in the central portion of
the survey at the center and outer rim of a possible redox zone. Mineralization might exist
at these locations as a vertical projection beneath these anomalies.
Interpretation of the SGH data (Figure 4) relative to the prese nce of gold mineralization at
the GoldON survey area may be based on what may appear to be th e presence of a Redox
Zone. Based also on the makeup of the SGH signatures, these Red ox Zones may be
associated with the possible presence of gold mineralization.
Figure 5 displays the SGH survey targets overlain on a geophysi cal magnetic survey of the area.
The interpreted magnetic breaks and disruptions of the stratigraphic and structural trends correlate
well with the identified SGH gold targets and redox zone. These target areas appear to be on trend
from the mineralized areas on the adjacent Pure Gold property.
Figure 5: SGH survey on Block A with Actlabs interpreted redox zone and potential gold targets.
The 2019 West Madsen Property summer field program was successf ul in identifying potential
ultramafic rocks of Balmer str atigraphy, extending anomalous go ld mineralization along the
projected contact between the Balmer and Confederation Assemblages and recognizing a relatively
new area of anomalous gold for Block B.
Recommendations include:
A prospecting and geological mapping program near Block A anomalous samples and the
“Gold Zones” identified by the SGH survey with emphasis on coll ecting structural data
that could identify mineralization controls and define drill targets.
A SGH survey west of Tack Lake. Tack Lake has newly identified ultramafic float along
its shoreline and is located al ong the projected contact of the Confederation and Balmer
stratigraphy. This geological/str uctural environment is similar to the adjacent Madsen
Mine increasing the priority of exploration in this area.
A prospecting program to investigate the anomalous sample from Block B.
These programs could be followed up with a 1,500 metre diamond drilling program
focusing on the possible ultramafic at Tack Lake and the gold zones identified from the
SGH surveys.
R. Bob Singh, 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 company 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 and our flagship Slate Falls property in the Patricia Mining
Division where 18 Au-Ag mineralized zones have been identified over the 11-kilometre breadth of
the property. GoldON has 14,124,782 shares issued and is fully funded to complete its summer
work programs.
For additional information please visit our website and you can view our latest presentation by
clicking here.
ON BEHALF OF THE BOARD
Signed “Michael Romanik”
Michael Romanik, President
Direct line: (204) 724-0613
Email: [email protected]
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of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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