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GoldON Reports Final Results from Phase II Drilling at West Madsen in Ontario's Red Lake Gold Camp
2020-21 drill program returned consistently anomalous gold values and highly prospective geolo...
About this update from Gold Finder Resources Ltd.
[{"type":"text","content":"GoldON Reports Final Results from Phase II Drilling at West Madsen in Ontario's Red Lake Gold Camp2020-21 drill program returned consistently anomalous gold values and highly prospective geologyVictoria, British Columbia--(Newsfile Corp. - June 1, 2021) - GoldON Resources Ltd. (TSXV: GLD) (\"GoldON\" or the \"Company\") reports final assays and provides a summary of Phase II diamond drilling at its West Madsen gold property (the \"Property\") that adjoins Pure Gold's new Red Lake mine.Program Highlights:The Balmer Assemblage rock package hosts most of the current gold resources and historical gold production in the Red Lake Greenstone Belt, and Phase II drilling was successful in identifying rocks of the Balmer Assemblage in ten of the sixteen holes.Predictable intersections of Balmer Assemblage extrusive mafic to ultramafic volcanic rocks that display textures, alteration and mineralization identical to those hosting gold mineralization at the Pure Gold mine. Observed thicknesses of this stratigraphy suggest a widening to the west and down-dip.Gold values within the Balmer rocks are consistently elevated above background levels with assays up to 5.72 g/t over 0.50m returned from a newly recognized corridor of highly strained and altered basalt that structurally, mineralogically and geochemically resemble other gold-bearing rocks within the Red Lake Greenstone Belt.Porphyritic felsic volcanic rocks within the Confederation Assemblage that returned a broad intercept of anomalous gold values (up to 0.51 g/t over 10.90m within hole WM-21-22, Table 1) are similar to those that host the No. 1 Vein target on the Pure Gold property (see Pure Gold's news release of March 4, 2021). This may indicate the presence of broad low-grade gold mineralization, which is becoming increasingly relevant in the Red Lake Camp.Newly documented high-strain felsic volcanic rocks in the Confederation Assemblage rock package contain sphalerite and arsenopyrite mineralization and bear textural, mineralogical and genetic similarities to other gold-bearing felsic volcanic rocks.The Phase II program was designed to test the newly identified corridor of Balmer Assemblage stratigraphy that was recently discovered to host high-grade gold (see GoldON's news release of July 22, 2020) by expanding on the reconnaissance drill program carried out in the summer of 2020....