GoldON Receives Drilling Permit for West Madsen Gold Property in Ontario’s Red Lake Camp Property adjoins Pure Gold’s Red Lake Gold Mine Project where first production is expected in late 2020
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
FOR IMMEDIATE RELEASE
GoldON Receives Drilling Permit for West Madsen
Gold Property in Ontario’s Red Lake Camp
Property adjoins Pure Gold’s Red Lake Gold Mine Project where first production
is expected in late 2020
VICTORIA, BC April 28, 2020 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON” or the
“Company”) is pleased to report that the e xploration drilling permit has been received for the
West Madsen gold property (the “Property”). GoldON has the right to earn a 100% interest in the
Property through an option agreem ent with Great Bear Resources (see news release of May 28,
2019 and regional claim map Figure 1).
The Company is evaluating drill bids and will finalize the dril ling recommendations and budget
once all bids are received. GoldON is fully funded to complete the drilling program.
The Property is comprised of two contiguous claim blocks (Block "A" and "B"), each roughly six
kilometres (km) by three km in size for a total area of 3,860 h ectares (see Figure 2). The focus of
the program will be initial drill testing of four of six main d rill 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 cont act that is similar to the adjacent
Pure Gold Mining property where development of the Red Lake Gol d Mine is on track and first
gold production is anticipated in late 2020.
“We are thrilled to be preparing for our initial drilling campa ign before the first anniversary of
optioning the West Madsen Project from Great Bear Resources,” said Mike Romanik President of
GoldON. “The Ontario Government h as deemed mining and explorati on an essential business
and we will be commencing the drill program as soon as logistically possible.”
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 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
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
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, wher e numerous Au-Ag mineralized
zones have been identified over the 13-km breadth of the proper ty. GoldON has 16,858,432
shares issued, all our properties are in good standing and we a re 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]
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