GoldON Updates Progress on Bruce Lake Project and Receives Exploration Permit Exploration Permit covers stripping, line cutting, geophysics and diamond drilling
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
FOR IMMEDIATE RELEASE
GoldON Updates Progress on Bruce Lake Project and
Receives Exploration Permit
Exploration Permit covers stripping, line cutting, geophysics and diamond drilling
VICTORIA, BC April 22, 2020 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON” or the
“Company”) is pleased to report that explor ation permits have been receiv ed for its Bruce Lake
property (the “Property”). The permit is in place until Feb 11 th, 2023 and covers mechanized
stripping, line cutting, ground geophysical surveys and diamond drilling.
GoldON has an option to earn a 100% interest in the 3,103 hectares Property, subject to a 1.5% net
smelter returns royalty. The Property is in a structurally active area spatially associated with east-
west trending deformation zones and northeast-trending faults. Access and infrastructure are
excellent with HWY 105 and hydro lines bisecting the Property, and the town of Red Lake ~36
kilometres (km) northwest (see area claim map).
The Property lies ~1 km southeast of Great Bear Resources’ Dixie property and shares its southern
boundary with Great Bear’s Pakwash property. The Property also adjoins BTU Metals’ Dixie Halo
property, where recent drilling has discovered a potential Cu-Ag-Au VMS-style system called the
TNT Target that borders the western claim boundary.
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
GoldON’s 2019 exploration program on the Property consisted of prospecting by boat on the shores
of Pakwash Lake and on claims east of Pakwash Lake and west of Bruce Lake where historical Au
in MMI soil anomalies were discovered by Laurentian Goldfields Ltd. in 2010.
The program resulted in the discovery of a new gold showing located on the west shore of Pakwash
Lake, hosted in what appears to be sheared and silicified diori te and trending approximately 020
degrees with a moderate dip to the east. Twelve samples of bedr ock or subcrop were collected
along a strike length of approximately 75 meters with sample as says results ranging from nil to
several returning above background Au up to 361ppb Au, as well as up to 8199ppm Pb and up to
1616ppm Zn. This discovery is particularly significant given the widespread lake sediment Au
anomalies discovered by Laurentian Goldfields Ltd. from 2010 to 2012 in Pakwash Lake, part of
which is underlain by a large diorite pluton.
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.
“We are fortunate to have discovered a new gold showing given our limited initial Property visit,”
said Mike Romanik President of GoldON. “Although we do not yet have drill targets established,
with permits in hand we are now ready to proceed with the next stage of exploration as soon as
weather conditions allow.”
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 16,858,432 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.