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GoldON Completes Phase I Exploration at Its Springpole East Property in the Red Lake Mining District, Ontario
The Property adjoins First Mining Gold's Springpole Project, one of the largest undeveloped go...
About this update from Gold Finder Resources Ltd.
[{"type":"text","content":"GoldON Completes Phase I Exploration at Its Springpole East Property in the Red Lake Mining District, OntarioThe 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. - July 26, 2022) - GoldON Resources Ltd. (TSXV: GLD) (\"GoldON\" or the \"Company\") is pleased to announce the completion of the Phase I field exploration program at its Springpole East property (the \"Property\") in the Red Lake Mining District, Ontario. Prospecting, mapping, and sampling were carried out from June 22nd to July 7th with 109 grab samples and 31 lake sediment samples collected by a two-man crew based at a fly-camp in the central part of the Property on Durkin Lake. Exploration efforts were aided by interpretations of the heliborne, high-resolution magnetometer (MAG) survey flown over the Property in the spring (See news release of June 7th, 2022 and Figure 1). Figure 1: Mag Survey Data over Area Map with Prospecting Coverage.To view an enhanced version of Figure 1, please visit:https://goldonresources.com/images/Springpole-East/SPE-MAG-Prospecting-Coverage.jpgAt least three horizons of quartz +/- feldspar veining over strike lengths of up to 3.8 kilometres (km) were located on the Property, associated with approximately east-west magnetic lineaments which locally appear to correspond to metasedimentary-metavolcanic contact areas or horizons of chert-magnetite iron formation. Veining frequently occurs within sheared greywacke-arkose metasediments and has been observed up to 25 centimetres (cm) wide in outcrop. Veins and wall rock appear to contain up to 1-2% pyrite, with locally minor chalcopyrite. Veins appear to be tightly folded along with thin (cm-scale) bands of felsic intrusive material.Prominent magnetic lineaments in the southern part of the Property were found to correspond to a broad unit of weakly to moderately magnetic mafic to intermediate volcanics, with the possibility of hidden bands of chert-magnetite iron formation as have been observed elsewhere. Approaching the granite-greenstone contact in the far southern part of the Property, folded mafic gneiss was observed, and mafic units in this area locally contain up to 0.5% pyrite.A prominent magnetic lineament in the northern part of the Property was found to...