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GoldON Plans Drilling at McDonough Gold Property in Red Lake, Ontario
Drill targets are well supported by coincident IP, geochem and geology Victoria, British Columbi...
About this update from Gold Finder Resources Ltd.
[{"type":"text","content":"GoldON Plans Drilling at McDonough Gold Property in Red Lake, OntarioDrill targets are well supported by coincident IP, geochem and geologyVictoria, British Columbia--(Newsfile Corp. - November 29, 2022) - GoldON Resources Ltd. (TSXV: GLD) (\"GoldON\" or the \"Company\") is pleased to announce that diamond drilling will commence early in the first quarter of 2023 on its McDonough gold property (the \"Property\") located 15 kilometres (km) north of the town of Red Lake, Ontario. Drilling will target induced polarization (IP) chargeability anomalies coincident with wide anomalous gold-in-soil anomalies that straddle a key structural feature associated with many gold deposits within the Red Lake Greenstone Belt (Figure 1). Figure 1: Regional location of the McDonough Property and GoldON's other ProjectsTo view an enhanced version of Figure 1, please visit:https://goldonresources.com/images/McDonough/McDonough-Regional.jpgThe Property lies along the contact and unconformity of the Huston Assemblage conglomerates (2733-2743 million years [(Ma]) and the Slate Bay Assemblage (Confederation) (<2903 Ma) clastic sediments. The same Huston Assemblage conglomerates are in unconformable contact with the Balmer Assemblage mafic and ultra-mafic rocks where the Red Lake Mine Complex (Campbell and Red Lake gold mines) lie in close proximity. Sediment unconformities are also proximal to the Madsen and Starratt-Olsen gold mines southwest of Red Lake (Figure 2).Figure 2: Regional geological location of the McDonough gold property within the Red Lake greenstone belt. Source: Harris, J., Sanborn-Barrie, M., Panagapko, D., Skulski, T and Parker, J. (2007). Gold prospectivity maps of the Red Lake greenstone belt: Application of GIS technology. Canadian Journal of Earth Sciences. 43. 865-893.To view an enhanced version of Figure 2, please visit:https://goldonresources.com/images/McDonough/McDonough-Regional-geology.jpg.To date, GoldON has completed a high-resolution magnetic survey followed by compilation of all known historical information along with a geological and structural reinterpretation. Results from the geological and structural interpretation provided targets where A-horizon soil samples were taken at 25 metre (m) intervals over an interpreted iron formation clast supported conglomerate of the Huston Assemblage in unconformable c...