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GoldON Mobilizes Diamond Drill to Test Primary Targets at West Madsen Gold Property
Property adjoins the Pure Gold Red Lake Mine project - the highest-grade underground develop...
About this update from Gold Finder Resources Ltd.
[{"type":"text","content":"GoldON Mobilizes Diamond Drill to Test Primary Targets at West Madsen Gold PropertyProperty adjoins the Pure Gold Red Lake Mine project - the highest-grade underground development project in Canada expecting first gold pour in late 2020 VICTORIA, BC / ACCESSWIRE / May 19, 2020 / GoldON Resources Ltd. (TSX-V:GLD) (\"GoldON\" or the \"Company\") is pleased to report that Chibougamau Diamond Drilling is mobilizing a drill rig and crew to commence testing primary drill targets on the West Madsen gold property (the \"Property\").GoldON has the right to earn a 100% interest in the Property through an option agreement with Great Bear Resources (see news release of May 28, 2019 and regional claim map Figure 1). The Property is comprised of two contiguous claim blocks (Block \"A\" and \"B\"), each roughly six kilometres (km) by three km in size for a total area of 3,860 hectares (see Figure 2).The focus of the fully-funded drilling program will be initial testing of four of six main drill targets that trend along in an east-west direction and run sub-parallel to magnetic lineaments on Block A of the Property (see Figure 3). These lineaments are interpreted to represent the contact between the Balmer and Confederation assemblages which is a geological/structural contact that is similar to the adjacent Pure Gold Red Lake Mine property where first gold production is anticipated in late 2020. Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of the mineralization hosted on the West Madsen property.The primary drill target areas were defined by detailed Soil Gas Hydrocarbon (SGH) surveys as well as prospecting and mapping along the prospective Balmer-Confederation geological/structural contact. SGH surveys have been used by Great Bear on their flagship Dixie Gold Project, and elsewhere in Red Lake, and have been successful in identifying prospective gold-bearing structures that are not observed at surface due to overburden coverage. The SGH targets and geological observations are coincident with a series of east-west trending geophysical magnetic lineaments and are interpreted to be the extension of the major crustal break that trends west from the Pure Gold property onto the West Madsen property.This major crustal break is a primary conduit for gold-bearing fluids and is related to most of the major gol...