GoldON Reports Drill Results from its West Madsen Gold Project in Ontario’s Red Lake Camp
FOR IMMEDIATE RELEASE
GoldON Reports Drill Results from its West Madsen Gold
Project in Ontario’s Red Lake Camp
The eastern boundary of the West Madsen property is a 5 km drive from the
Madsen gold mine and mill complex owned by West Red Lake Gold Mines (WRLG)
VICTORIA, BC, November 7, 20 24 – GoldON Resources Ltd. (TSX -V: GLD) (the
“Company”) has received final assays for the recently completed exploration drilling program at
its 100%-owned West Madsen gold property (the “Property”).
Figure 1: 2024 West Madsen drill hole collar locations and traces.
A total of 1,828.42 metres (m) of diamond drilling was completed over five holes in September.
Drill Hole # Easting Northing Elevation (mASL) Azimuth Dip Total Depth (m)
WM-24-01 429921 5643737 421 160 -45 396
WM-24-02 430243 5643617 425 170 -45 521.42
WM-24-03 430668 5643680 428 180 -45 222
WM-24-04 431176 5643666 427 185 -45 282
WM-24-05 429787 5643486 421 340 -60 407
Coordinates in NAD83 datum Zone 15. Elevation in metres above sea level.
Table 1: Drill hole statistics from the 2024 West Madsen drill program.
The objective of the drilling program was threefold:
1) To follow-up on drill hole WM-21-22 where a granodiorite intrusive body reported 0.16
grams per tonne (g/t) gold (Au) over 195 metres (m) including 0.51 g/t Au over 10.90 m.
2) Test the granodiorite intrusive body along strike to the east towards the New Mallen gold
occurrence.
3) Investigate a geophysical interpreted fold nose that would provide an important conduit
and trap for gold mineralization noted on surface and in the 2021 drill program.
The drill program was designed to test the strike extents of the mineralized granodiorite to the east
and west of WM -21-22. The interpretation of drilling and surface mapping from earlier in 2024
determined that stratigraphy was dipping steeply to the north and as a result, drill holes proposed
for this program were oriented to drill opposite to that of WM-21-22, from north to south. This was
accomplished in holes WM -24-01 through -04 but was impossible in WM -24-05 due to
inaccessibility.
The final assay results demonstrate an anomalous gold zone which now encompasses a total strike
length of over 1.4 kilometres. Interestingly, results from WM-24-05 returned gold not just from the
granodiorite (0.28 g/t over 15 metres) but also in highly silicified metasediments that are in contact
with the hanging wall of the granodiorite (0.85 g/t Au over 9.44 m including 2.04 g/t Au over 2m).
Since gold has not been visibly identified in the core, the modality of this gold, whether it is
occurring in the wall rock or veins is unclear. Further inspection of the core with the assay results,
detailed sampling and analysis of vein paragenesis should all aid in determining the source of this
extensive anomalous gold footprint.
As this drilling program focused on rocks of the Confederation Assemblage, holes WM-24-03 and
WM-24-04, the two most easterly holes, also drilled south, intersected ultra mafic flows believed
to belong to the Balmer Assemblage. The Balmer Assemblage ultra mafic r ocks are host to the
current and past gold producing mines of the Red Lake Gold Camp. The ultra mafic volcanic flows
in holes WM -24-03 and WM -24-04 were fine grained, black with a strong biotitic groundmass.
Interestingly, this unit contained foliat ion controlled fine wisps and seams of predominantly
chalcopyrite with subordinate pyrite over multiple sections 10-20 centimeters wide. Hole WM-24-
04 returned 0.20% Cu over 13.41 m starting at 216.95 m downhole, which included 1.93% Cu over
0.37 m.
Drill hole WM-24-02 was planned to investigate the potential for folded stratigraphy as interpreted
from the surface geophysics. Repeated lithologies were not intersected and as such the source of
this geological signature is still unknown.
Drill Hole From (m) To (m) Width (m)* Au (g/t) Cu (%) Lithology
WM-24-01 136.17 147.60 11.43 0.200 Granodiorite
WM-24-04 216.95 230.46 13.51 n/a 0.20 Ultramafic
WM-24-04 including 225.00 226.00 1.00 0.419 0.94 Ultramafic
WM-24-04 and including 225.63 226.00 0.37 0.690 1.93 Ultramafic
WM-24-05 33.00 45.00 12.00 0.250 Granodiorite
WM-24-05 123.00 138.00 15.00 0.278 Granodiorite
WM-24-05 265.00 285.44 20.44 0.539 Metasediments
WM-24-05 including 276.00 285.44 9.44 0.853 Metasediments
WM-24-05 and including 282.00 284.00 2.00 2.040 Metasediments
*Widths are drill hole lengths and do not indicate true widths.
Table 2: West Madsen 2024 drill core sample assay results with lithologies.
QA/QC Protocol
Drill core samples were cut by diamond saw in Red Lake under supervision of the QP. Blank and
standard certified reference material were inserted into the sample sequence at a rate of 4% each.
Samples were shipped from Red Lake via Gardewine & Sons to ALS Minerals preparation
laboratory and Photon Assay lab in Thunder, Ontario. All samples underwent analytical method
PA-Au01, a photon assay method for gold in Thunder Bay. All samples were also prepped for a
48-element four acid digestion analysis with an ICP -MS finish performed in ALS’s Burnaby
facility.
The QA/QC results from the drilling program and the technical information contained in this news
release has been approved by Mike Kilbourne, P.Geo. who is a Qualified Person as defined in
National Instrument 43-101, Standards of Disclosure for Mineral Projects.
About the West Madsen Gold Property
Located in the heart of the Red Lake Gold District, the 5,988 -hectare Property covers two claim
blocks, Block A (east) and Block B (west), that are non-contiguous by less than 100 metres. Block
A adjoins the Madsen gold mine property where WRLG expects to restart production in the second
half of 2025.
The bulk of the mineral resources on the Madsen mine property are hosted in a ~7 -km-long gold
trend that follows the major crustal break or contact between the Balmer and Confederation
assemblages. GoldON has observed the same Balmer -Confederation contact in outcrop ~1.5
kilometres (km) west of the Block A eastern claim boundary and identified it within an ~8 -km
corridor of disrupted regional magnetics that traverses Block A from the Madsen mine property.
Figure 2: Looking northeast from GoldON’s West Madsen property to WRLG's Madsen Gold Mine property.
About GoldON Resources Ltd.
GoldON is a mineral exploration company focused on discovery-stage properties. Our goal with a
property is to add value by defining or redefining the exploration opportunity, maintain ownership
control during the value creation phase of discovery, and then source a well -financed partner
capable of accelerating discovery, resource definition, and development.
For more information on GoldON and the West Madsen gold pro ject, please visit our website at
goldonresources.com. You can also download our investor presentation here and follow us on X
(Twitter) here.
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
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