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GoldON Resources Provides Prospecting and SGH Soil Survey Update on West Madsen Project in Ontario's Red Lake Gold Camp
West Madsen Property adjoins Pure Gold’s Madsen Project where first gold production is anticipated in late 2020 VICTORIA, BC / ACCESSWIRE / September 4, 2019 /
About this update from Gold Finder Resources Ltd.
[{"type":"text","content":"West Madsen Property adjoins Pure Gold’s Madsen Project where first gold production is anticipated in late 2020 VICTORIA, BC / ACCESSWIRE / September 4, 2019 / GoldON Resources Ltd. (TSXV:GLD) (“GoldON” or the “Company”) is pleased to provide an exploration update on the West Madsen gold property (See Claim Map) recently optioned from Great Bear Resources (see news release of May 28, 2019). Highlights of exploration results to date include: Discovery of potential ultramafic rocks on the Property has significant implications given that most of the historical gold production and current reserves at Pure Gold’s Madsen Project are hosted within the Balmer Assemblage in close proximity to the ultramafic rocks. SGH soil survey results identified a potential redox cell with three associated areas for potential gold mineralization (Figure 4). GoldON’s summer fieldwork on the West Madsen property included a property-scale, grassroots prospecting survey and a 3-D Spatiotemporal Gas Hydrocarbon (“SGH”) soil survey. The West Madsen property is directly adjacent to Pure Gold’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 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 NI 43-101 Technical Report filed July 5, 2019 www.puregoldmining.ca). Prospecting and geological mapping on West Madsen Block A has identified two ultramafic boulders on the shoreline of an island in Tack Lake that are interpreted to be part of the Balmer Assemblage volcanic rocks. This ultramafic stratigraphy was not previously recognized on the 2004 regional Geological Survey of Canada Sanborn-Barrie et.al. geology map (GSC Open File 4594). The ultramafic boulders, measuring 1.0 by 1.5 metres are sub-angular in nature and indicate that they are locally sourced. At the adjacent Madsen Project (6 km to the east) Pure Gold states: “Primary lithological control on gold distribution includes proximity to the contacts of an ultramafic unit within the upper several hundred metres of the Balmer Assemblage. Most gold mineralization is located within a...