West Madsen Property Adjoins Pure Gold’s Madsen Project, the “Highest-Grade Gold Development Project in Canada”
VICTORIA, BC / ACCESSWIRE / June 6, 2019 / GoldON Resources Ltd. (TSX-V: GLD) (“GoldON” or the “Company”) is pleased to announce it has retained Rimini Exploration & Consulting Ltd. as Project Manager and commenced Phase I exploration on the West Madsen gold property recently optioned from Great Bear Resources (see news release of May 28, 2019). The focus of the Phase I program will include reconnaissance geological mapping, sampling and prospecting across the property, working towards the goal of identifying new zones of gold mineralization and defining potential drill targets.
The West Madsen Property is contiguous with Pure Gold’s Madsen project, which is host to the historical Madsen and Starratt Olsen gold mines; and where Pure Gold recently completed a Feasibility Study on the Madsen deposit and a Preliminary Economic Assessment on the Fork, Russett South and Wedge deposits (Figure 1). Pure Gold also just announced their 2019 exploration program for the Madsen project (see Pure Gold’s press release May 31, 2019), which includes a 12,000 metre drilling program that has commenced and will be largely directed at their Wedge discovery and along strike extensions.
A major crustal break between Balmer Assemblage rocks and Confederation Assemblage rocks is interpreted to trend from the Pure Gold land package onto the West Madsen Property (Figure 2). Within the Red Lake Greenstone Belt, these major crustal breaks are associated with extensive gold mineralization hosted both in the Balmer Assemblage and within the felsic to intermediate volcanic rocks adjacent to the interpreted fault zones as recently identified by GoldON’s partner Great Bear Resources at their Dixie Project (see Great Bear’s Press Release May 28, 2019). Detailed geophysics has also led us to believe there is potential for a thicker, mafic to intermediate volcanic package than the previous regional geology map implies.
“We have high expectations for the West Madsen gold property given it has the same geological characteristics as recent discoveries in the Red Lake Greenstone Belt,” said Michael Romanik President of GoldON. “The adjacent Pure Gold property has confirmed the potential for high-grade gold mineralization observed near this particular crustal-break structure and the recent work completed by our partner, Great Bear, highlights the potential for gold mineralization along these major crustal breaks within not only mafic volcanic rocks but also within the contact intermediate to felsic volcanic rocks.”
R. Bob Singh, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed and approved the technical contents of this news release on behalf of the Company.
About Rimini Exploration & Consulting Ltd.
Rimini Exploration and Consulting Ltd. principals have over 40 years of combined management and exploration experience specific to the Red Lake Greenstone Belt, ranging from grassroots exploration to reserve replacement.
About GoldON Resources Ltd.
GoldON is an exploration company focused on discovery-stage properties located in the prolific gold mining belts of northwestern Ontario, Canada. Active projects include the West Madsen property in the Red Lake Gold Camp and our flagship Slate Falls project in the Patricia Mining Division where 18 Au-Ag mineralized zones have been identified over the 7-kilometre breadth of the property. GoldON has 13,783,220 shares issued and is fully funded to complete its spring/summer work programs.
For additional information please visit our website and view our latest presentation by clicking here or contact Michael Romanik.
ON BEHALF OF THE BOARD
Signed “Michael Romanik”
Michael Romanik, President
Direct line: (204) 724-0613
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: GoldON Resources Ltd.
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