GoldON Starts Work on Fourth Exploration Project in Red Lake Gold Camp High-Resolution MAG survey completed on McDonough property that adjoins Rubicon’s Slate Bay gold property
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
FOR IMMEDIATE RELEASE
GoldON Starts Work on Fourth Exploration Project
in Red Lake Gold Camp
High-Resolution MAG survey completed on McDonough property that adjoins
Rubicon’s Slate Bay gold property
VICTORIA, BC May 13th, 2020 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON” or the
“Company”) is pleased to announce the completion of a property-wide airbo rne magnetometer
(MAG) survey on the McDonough property (the “Property”).
GoldON has an option to earn a 10 0% interest in the Property, s ubject to a 1.5% NSR royalty.
Located 15 kilometres (km) north of the town of Red Lake (see regional map), the 1,062-hectare
Property is contiguous with Rubicon Minerals’ Slate Bay gold pr operty and straddles a regional
unconformity that is a key structural signature of many mines w ithin the Red Lake Greenstone
Belt. Despite hosting ample explor ation targets and several geo logical characteristics typical of
gold deposits in Red Lake and the Uchi Subprovince, the Property remains underexplored.
GoldON hired Prospectair Geosurveys to complete the heliborne high-resolution MAG survey that
included 50-meter flight line spacings for a total of 550-line km to cover the Property. Preliminary
data from the MAG survey shows several interesting circular mag netic features as well as a clear
fault that cuts through the mag signal (click on the map above to enlarge). GoldON’s next steps
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
will include the completion of additional soil sampling grids t o follow up on encouraging results
received in 2019 as well as prospecting the new areas of interest identified from the MAG survey.
Recent logging on the claims has provided even greater access t o some of the key portions of the
claim block.
“GoldON is in a fortunate position with four discovery-stage pr ojects located within the re-
energized Red Lake Mining District,” said Mike Romanik President of GoldON. “We are finalizing
our 2020 exploration plans for McDonough, Pipestone Bay and Bruce Lake; and expect our initial
drilling campaign at West Madsen to be underway shortly.”
Mike Kilbourne, P. Geo, an inde pendent qualified person as defi ned in National Instrument 43-
101, has reviewed and approved the technical contents of this n ews 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 100% owned
Slate Falls project in the Patricia Mining District, where numerous Au-Ag mineralized zones have
been identified over the 13-km breadth of the property. GoldON has 16,908,432 shares issued, all
our properties are in good standing and we are fully funded for our 2020 exploration programs.
Additional information is available on 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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TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.