Business
GoldON Commences Follow-up Fieldwork at West Madsen Project in the Heart of the Red Lake Gold Camp
Fieldwork is designed to generate follow up drill targets Victoria, British Columbia--(Newsfi...
About this update from Gold Finder Resources Ltd.
[{"type":"text","content":"GoldON Commences Follow-up Fieldwork at West Madsen Project in the Heart of the Red Lake Gold CampFieldwork is designed to generate follow up drill targetsVictoria, British Columbia--(Newsfile Corp. - September 22, 2021) - GoldON Resources Ltd. (TSXV: GLD) (\"GoldON\" or the \"Company\") is pleased to announce the start of follow-up fieldwork on its 100% owned West Madsen gold project adjoining the new Pure Gold Red Lake Mine. The 2020-2021 drill program returned consistently anomalous gold values and highly prospective geology. The contact that separates the Balmer and Confederation assemblages has been confidently identified within an 8-kilometre corridor of disrupted regional magnetics that trends onto the property from the Pure Gold Red Lake Mine property. This contact is highly prospective and strongly associated with gold mineralization at the Pure Gold Mine and historical Starrett Olsen Mine. Further advancement in other regional Red Lake exploration projects has continued to identify gold potential of the intermediate to felsic stratigraphy interpreted to be associated with the Confederation Assemblage. Newly identified quartz-phyric felsic-intermediate volcanic rocks, within the Confederation Assemblage, were intersected in our drill program and are highly strained and strongly silicified. The samples returned slightly elevated gold values and elevated pathfinder elements (arsenic, lead, zinc). Minerals containing these pathfinder elements are reported to be associated with gold mineralization in the porphyritic felsic-intermediate volcanic rocks of Great Bear's Dixie Project (Technical Report on the Dixie Property, 2020). The potential surface exposures of this unit are within several soil-gas-hydrocarbon (SGH) identified gold zones which have not been investigated. This will be the focus of the upcoming prospecting program designed to identify additional drill targets. The planned fieldwork includes prospecting, mapping, and outcrop sampling within underexplored areas of the Confederation Assemblage. The SGH survey conducted in 2019 generated six target areas that were interpreted to be prospective for gold mineralization by ActLabs. These newly identified prospective Redox zones generated a higher confidence for gold mineralization. (see Figure 1). These areas overlie the felsic-intermediate volcanic rocks of the Con...