GoldON Receives Assay Results from McDonough Drill Program
FOR IMMEDIATE RELEASE
GoldON Receives Assay Results from McDonough Drill
Program
VICTORIA, BC – May 10, 2023 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON” or the
“Company”) has received final assay results from the initial drilling program on its 100%-owned
McDonough property (the “Property”) located approximately 15 kilome tres north of the town of
Red Lake, Ontario. A total of 1,138 metres of drilling was complete d over eight holes (Table 1)
that targeted induced polarization (IP) chargeability anomalies, including some that had coincident
A-horizon gold-in-soil anomalies. The results of the drilling were disappointing, with no significant
assays returned.
Drilling confirmed the ground IP geophysical survey, which identi fied several chargeability
anomalies and was successful in locating sulphides (pyrite) in intermediate volcanic and
metasedimentary rocks. Pyrite occurred as disseminations and blebs within the groundmass in the
intermediate volcanic rocks or replacing magnetite in the metasediment host rocks. Drilling did not
explain the A-horizon gold-in-soil anomalies.
“The setting was ideal with coincident geophy sical and geochemical a nomalies proximal to a
regional unconformity where several mines of the Red Lake gold camp are situated. Unfortunately,
our first drilling program did not unlock this part of the Camp’s secrets,” said Mike Romanik,
president of GoldON.
Table 1: Drill Hole Details
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.
Drill Hole Easting Northing Azimuth Dip Total Depth (m)
MCD23‐08 443602 5668842 180 ‐45 146
MCD23‐06 443002 5668421 180 ‐45 146
MCD23‐07 443003 5668320 180 ‐45 149
MCD23‐05 442596 5668754 180 ‐45 140
MCD23‐04 442601 5668402 180 ‐45 158
MCD23‐03 441566 5668117 180 ‐45 140
MCD23‐01 440957 5668407 180 ‐45 140
MCD23‐02 440750 5668443 180 ‐45 119
Coordinates in UTM NAD83 Zone 15U datum. 1,138
About GoldON Resources Ltd.
GoldON is an exploration compan y focused on discovery-stage prop erties located in the prolific
greenstone belts of northwestern Ontario, Canada . Our current project portfolio includes six
properties in the Red Lake Mining District (McDonough, Springpole East, Pipestone Bay, Pakwash
North, McInnes Lake, and West Mads en) and a seventh property in the Patricia Mining District
(Slate Falls).
For more 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.