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GoldON Provides Exploration update on West Madsen Gold Property in Ontario’s Red Lake Camp
Property adjoins Pure Gold's Madsen Project where exploration drilling continues and mine construction is underway with first gold production expected in Q4 VIC
About this update from Gold Finder Resources Ltd.
[{"type":"text","content":" Property adjoins Pure Gold's Madsen Project where exploration drilling continues and mine construction is underway with first gold production expected in Q4 VICTORIA, BC / ACCESSWIRE / January 9, 2020 / GoldON Resources Ltd. (TSXV:GLD) (\"GoldON\" or the \"Company\") is pleased to provide an exploration update on the West Madsen gold property (the \"Property\") that it has the right to earn up to a 100% interest in 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 below). Block A is directly adjacent to Pure Gold Mining's Madsen property and is interpreted to host the extension of the Balmer Assemblage rocks of the Red Lake Greenstone belt. This Assemblage is host to Pure Gold's Madsen Red Lake Gold Mine with a historical production of 2.6 million ounces of gold and a current indicated resource of 2,063,000 ounces gold at 8.9 grams per tonne (g/t) gold (in 7.2 million tonnes), an inferred resource of 467,000 ounces gold at 7.7 g/t gold (in 1.9 million tonnes) (see Pure Gold's National Instrument 43-101 Technical Report filed July 5, 2019 www.puregoldmining.ca). Note: mineralization found on Pure Gold's property is not necessarily indicative of mineralization that may be found on the West Madsen property. During the fall of 2019, GoldON mobilized Rimini Exploration & Consulting crews to complete a Phase II prospecting and geological mapping program on the West Madsen Property to follow up on the Phase I soil-gas-hydrocarbon (SGH) survey anomalies identified earlier this year (see news release of October 22, 2019). In conjunction with this prospecting program, the SGH survey was expanded to the west to test the projected extension of the contact of the Balmer and Confederation assemblages, a geological/structural contact that is similar to the adjacent Madsen property. Results from the extended SGH survey are pending and results from the prospecting program follow. Phase II prospecting and geological mapping on West Madsen Block A was planned to investigate the hydrocarbon anomalies identified in ActLab's SGH survey interpretation. Work was focused on areas that were prospec...