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GoldON Identifies Anomalous Gold Trend 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 Identifies Anomalous Gold Trend 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. - November 9, 2022) - GoldON Resources Ltd. (TSXV: GLD) (\"GoldON\" or the \"Company\") is pleased to provide an update on exploration activity at its Springpole East property (the \"Property\") in the Red Lake Mining District, Ontario (See Regional Map). Figure 1: Springpole East Property New Au TrendTo view an enhanced version of Figure 1, please visit:https://goldonresources.com/images/Springpole-East/Springpole_Au_trend_Nov2022.jpgA Phase II prospecting program was carried out in late September to follow up on results of up to 457 ppb gold (sample E5830289) from the initial exploration program in June-July (see news release of October 24, 2022). During the Phase II program, 3 samples were collected of altered, foliated granite with quartz-feldspar veining and 1-2% disseminated to coarse pyrite. These were located along strike to the west of sample E5830289 within an approximately east-west-trending domain of generally higher magnetic readings (Target 1 from the Oct 24th news release). Assay results for these samples returned from 191 ppb to 1.27 grams per tonne (g/t gold (sample C271106, see Photo 1). Photo 1: Altered granitic rock with quartz-feldspar veining, 1% pyrite, 1.27 g/t gold.To view an enhanced version of Photo 1, please visit:https://goldonresources.com/images/Springpole-East/C271106_float_LR.jpgThese samples, along with sample E5830289 from the initial program, define a 2.8 km trend of anomalous Au along an approximately east-west structural corridor suggested by the magnetic data (see Figure 1). This east-west structural corridor may be part of a broad regional fold with a D2 axis which provides excellent structural traps for Au-mineralizing fluids.The trend appears to be poorly exposed, with gold-bearing samples being collected from angular float on the south shores of two small lakes, more than likely scoured from these lakes by glacial activity. More prospecting as well as soil and lake sediment sampling must be carried out to confirm the validity of the trend. Multi-element assay results are pending for all samples...