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GoldON Receives Drill Permits for Newly Acquired Claims at West Madsen and Commences Fieldwork
The prospective Balmer-Confederation contact is interpreted to transect the expanded West Ma...
About this update from Gold Finder Resources Ltd.
[{"type":"text","content":"GoldON Receives Drill Permits for Newly Acquired Claims at West Madsen and Commences FieldworkThe prospective Balmer-Confederation contact is interpreted to transect the expanded West Madsen Project for 8.0 kilometresVICTORIA, BC / ACCESSWIRE / August 6, 2020 / GoldON Resources Ltd. (TSXV:GLD) (\"GoldON\" or the \"Company\") is pleased to report that it has received drill permits for the two claim groups newly acquired from Bounty Gold Corp. (see news release of July 29, 2020 and Figure 1 below).Figure 1: West Madsen - Block A and Bounty Claim Groups with inferred Balmer-Confederation ContactFieldwork on the new claims has commenced that will include prospecting, mapping and soil sampling to define and prioritize targets for phase II drilling on the expanded West Madsen project.The Project is comprised of the West Madsen (Block A and Block 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, where GoldON can acquire a 100% interest. The Flat Lake and Madsen-Medicine Stone claims are contiguous with Block A and the Pure Gold Red Lake Mine property (see Figure 1 above and regional claim map Figure 2).Notably, Pure Gold's Russet South deposit and Wedge zone lie approximately 400 metres northeast and 300 metres southeast, respectively, from the Project's eastern claim boundary (see Figure 3 below).Figure 3: Looking east from West Madsen - Block A and new Bounty Claims toward Pure Gold Red Lake Mine Pure Gold has identified a seven-kilometre-long gold system along the major crustal break between the Balmer and Confederation assemblages. The Balmer-Confederation contact trends west and has been identified on the Madsen-Medicine Stone Claim Group 1.6 km west of the Pure Gold property boundary at an outcrop exposure. This area is a high-priority exploration target as the metavolcanics show evidence of deformation, alteration and mineralization demonstrating that the Balmer-Confederation contact was active here as it was further east on the Pure Gold property.Based on a geological and structural interpretation of a 2017 regional airborne magnetic survey completed by Great Bear Resources in conjunction with surface trenching and the recent drilling results, the prospective Balmer-Conf...