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GoldON Acquires Springpole East Property in the Red Lake Mining District
The Property adjoins First Mining Gold's Springpole Project one of the largest undeveloped gol...
About this update from Gold Finder Resources Ltd.
[{"type":"text","content":"GoldON Acquires Springpole East Property in the Red Lake Mining DistrictThe Property adjoins First Mining Gold's Springpole Project one of the largest undeveloped gold deposits in Canada at 3.8Moz probable reservesVictoria, British Columbia--(Newsfile Corp. - December 8, 2021) - GoldON Resources Ltd. (TSXV: GLD) (\"GoldON\" or the \"Company\") is pleased to announce it has entered into an option agreement to acquire a 100% interest in the Springpole East property (the \"Property\") situated, primarily, in the Keigat Lake Area township of the Red Lake Mining District, Northwestern Ontario (See Figure 1). Figure 1: Regional map showing Springpole East location and GoldON's other projectsTo view an enhanced version of this graphic, please visit:https://goldonresources.com/images/Springpole-East/Springpole-East-Regional.jpgThe Property is comprised of 13 contiguous mining claims covering 5,186 hectares and is located approximately 40 kilometres (km) northwest of the Slate Falls First Nation community. Access is via a new all-weather road being built that has been completed to the southern claim boundary and is slated to run right through the claim block. The Property is located within the Birch-Uchi Greenstone Belt of the northern Uchi Subprovince and consists of typical greenstone mafic to felsic volcanic sequences intercalated with clastic and chemical sediments which have been intruded by pre to syn-tectonic felsic to mafic intrusives and syn to post-tectonic mafic to ultra-mafic rocks. Very little is known about the Property's underlying geology with most of it inferred from airborne magnetics (MAG) that suggest a very active structural environment.The western boundary of the Property adjoins the Springpole project owned by First Mining Gold Corp., with the Springpole deposit located 9 km to the west of the boundary and hosting reserves of 3.8 million ounces of gold and 20.5 million ounces of silver. The 2021 pre-feasibility study of Springpole is highlighted by a 30,000 tonnes per day mining operation with a life of mine of 11 years.There is also potential for high-grade lode gold deposits as past-producing mines from the 1930s mined gold in excess of 10 grams per tonne proximal to the Property. One example is the Argosy gold mine that is situated 15 km northwest along strike from the Property and operated intermittently betwee...