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GoldON Mobilizes Diamond Drill and Outlines Exploration Plan for West Madsen Gold Project in the Heart of the Red Lake Camp
Property adjoins Canada's next gold mine - the Pure Gold Red Lake Mine project where the first...
About this update from Gold Finder Resources Ltd.
[{"type":"text","content":"GoldON Mobilizes Diamond Drill and Outlines Exploration Plan for West Madsen Gold Project in the Heart of the Red Lake CampProperty adjoins Canada's next gold mine - the Pure Gold Red Lake Mine project where the first gold pour is scheduled before year's endVictoria, British Columbia--(Newsfile Corp. - November 16, 2020) - GoldON Resources Ltd. (TSXV: GLD) (\"GoldON\" or the \"Company\") is pleased to report that a diamond drill and crew have begun mobilization at the West Madsen Gold Project to initiate Phase II drilling. Figure 1: Phase II Drill Plan for West Madsen ProjectTo view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/7436/68233_44ae5a30c49a0a1c_001full.jpgThe West Madsen Project covers over 4,700 hectares and is comprised of the West Madsen (Block A and B) claims, where GoldON has the right to earn a 100% interest through an option agreement with Great Bear Resources (see news release of May 28, 2019); and the Flat Lake and Madsen-Medicine Stone claim groups that adjoin Block A, where GoldON can acquire a 100% interest through an option agreement with Bounty Gold (see news release of July 29, 2020, and the Red Lake regional map Figure 2). The focus of the Phase II drilling program will be on the expanded West Madsen - Block A (see Figure 1 above) and the area of the black ellipse that is contiguous with the Pure Gold Red Lake Mine property where the first gold pour is scheduled for late 2020 (Pure Gold's news release of October 27, 2020). Pure Gold's reserves and resources include the Madsen deposit (FS status) and the Fork, Russet South, and Wedge deposits (PEA status) that are hosted in a seven-kilometre-long gold system that follows the major crustal break or contact between the Balmer and Confederation assemblages. This same Balmer-Confederation contact has been exposed in outcrop 1.6 kilometres (km) west of the Pure Gold property boundary and is interpreted to continue for ~8 km across GoldON's property. The Phase II program is budgeted for up to 7,000 metres of diamond drilling to aggressively test the strike-extension of both the known gold mineralization to the east and to follow-up on the gold mineralization discovered during GoldON's Phase I drilling that returned 14.4 g/t gold over 0.5 metres (see news release of July 22, 2020). The black ellipse in Figure 1 depicts the...