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GoldON Provides Update on Red Lake North Gold Property
High-resolution heliborne magnetic survey reveals favourable structural make-up for gold depos...
About this update from Gold Finder Resources Ltd.
[{"type":"text","content":"GoldON Provides Update on Red Lake North Gold PropertyHigh-resolution heliborne magnetic survey reveals favourable structural make-up for gold deposition on the fully permitted ProjectVictoria, British Columbia--(Newsfile Corp. - June 15, 2021) - GoldON Resources Ltd. (TSX-V: GLD) (\"GoldON\" or the \"Company\") is pleased to provide an update on exploration activities on its Red Lake North property (the \"Property\") located in the Red Lake Mining District of Northwestern Ontario. The 3,347-hectare property is located approximately 65 kilometres (km) north of the town of Red Lake. Access is excellent via Nungesser Road, an all-weather road that lies 1.5 km north of the Property and connects to Red Lake.Figure 1: Regional Map Showing Location of Red Lake North PropertyTo view an enhanced version of this graphic, please visit:https://goldonresources.com/images/Red-Lake-North/Red-Lake-North-Regional.jpgGoldON acquired the Property in February 2021 and subsequently hired Prospectair Geosurveys to complete a heliborne high-resolution magnetometer (MAG) survey that consisted of 740 line-km with 50 metre (m) line spacings to cover the Property. In conjunction with the MAG survey, Dynamic Discovery Geosciences was engaged to interpret the new geophysical data. Preliminary interpretation of the first vertical derivative reveals a wide shear/deformation zone varying from 100 m to 750 m in width within a magnetic low transecting the property (Figure 2).Figure 2: Magnetic signature of the Red Lake North property and preliminary structural interpretationTo view an enhanced version of this graphic, please visit:https://goldonresources.com/images/Red-Lake-North/RLN_Prelim-MAG-Interpretation.jpgThis wide corridor is interpreted to be the E1 crustal-scale extensional shear zone postulated by Zeng and Calvert (2006) from seismic reflection studies north of Red Lake. The E1 shear hosts second-order structures postulated to providing fluid pathways for the gold mineralization of the Red Lake Mine Complex (Zeng and Calvert, 2006). A similar structure, the E3, has second-order fault systems associated with the gold mineralization at Great Bear Resources' Dixie Project and LP Fault discovery (See Figure 3 and Great Bear's news release of June 3, 2021). Figure 3: Interpretation of the migrated seismic reflection section along the seismic pro...