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GoldON Resources Ltd. (TSXV: GLD) is a mineral exploration company focused on discovery-stage properties. The company's 100%-owned West Madsen gold property, located in the Red Lake Gold District, covers two distinct claim blocks and has received a permit for exploration drilling. GoldON's next phase of drilling will focus on Block A, adjacent to the Madsen mine property owned by West Red Lake Gold Mines. Previous drilling has confirmed gold mineralization in various geological environments, indicative of typical Archean terrane orogenic gold deposit settings.
The company has engaged Orix Geoscience for data compilation and interpretation to prepare for the upcoming drilling phase. Strategic exploration efforts within the Confederation Assemblage of Block A aim to uncover potential gold mineralization systems. GoldON's exploration strategy aligns with the industry trend of focusing on felsic rocks within the Red Lake Gold Camp, following notable discoveries by Great Bear Resources and Kinross Gold Corp.
GoldON Resources Ltd. has mobilized a crew from Emerald Geological Services for fieldwork to facilitate the next drilling phase at the West Madsen property. Detailed geological mapping and prospecting will aid in determining optimal drilling locations to test the known mineralization's plunge and lateral extent. The company's mission is to add value by defining exploration opportunities, maintaining ownership control, and attracting well-financed partners for accelerated discovery and development.
GoldON Resources (TSXV: GLD) has provided an update on its exploration drilling program at the 100%-owned West Madsen gold property in Ontario's Red Lake Camp. The company completed 1,828.42 metres of diamond drilling over five holes in September. The drilling program aimed to follow up on previous results, investigate a geophysical interpreted fold nose, and test a granodiorite intrusive body along strike.
Key findings include:
- All holes intersected the granodiorite intrusive body with downhole widths up to 57 metres
- Strong to intense alteration and pyrite mineralization were observed in all drill holes
- The strike length of the granodiorite has been traced for over 1.25 kilometres
- Ultramafic flows believed to belong to the Balmer Assemblage were intersected in the two most easterly holes
Logging and sampling of the drill core is in progress, and results will be released once all final assays have been received.
GoldON Resources (TSXV: GLD) has announced the start of exploration drilling at its 100%-owned West Madsen gold property in Ontario's Red Lake Gold District. The 5,988-hectare property is strategically located near West Red Lake Gold Mines' (WRLG) Madsen gold mine, which is expected to restart production in 2025. Previous drilling by GoldON discovered gold mineralization in felsic intrusive rocks, with hole WM-21-22 intersecting a 195-metre zone of consistent low-grade gold mineralization.
The new drilling phase will focus on Block A, where the company has identified potential for a proximal gold system. GoldON's exploration strategy is influenced by Great Bear's success at the Dixie property, which led to a $1.8 billion acquisition by Kinross Gold Corp. The company's drill target development is led by Andrea Diakow, P.Geo., former exploration manager at Great Bear.
GoldON Resources (TSXV: GLD) has engaged Rouillier Drilling for its upcoming drilling program at the 100%-owned West Madsen gold property. GoldON's team is heading to the site to prepare for drilling. The property is strategically located in Ontario's Red Lake Gold District, covering 5,988 hectares and divided into two blocks, A and B. The next phase of drilling will focus on Block A, which shares geological characteristics with the nearby Madsen gold mine, owned by West Red Lake Gold Mines (WRLG). WRLG plans to restart production at Madsen in the latter half of 2025. Rouillier Drilling, established in 1977, specializes in surface and underground drilling and has received the UL 2724 ECOLOGO® certification for eco-friendly mineral exploration services.
GoldON Resources (TSXV: GLD) has successfully closed a non-brokered private placement financing, raising $522,000 in gross proceeds. The offering consisted of 4,350,000 flow-through shares, priced at $0.12 per share. All shares issued are subject to a hold period expiring on December 17, 2024.
The proceeds will be used to fund the next phase of drilling at GoldON's 100%-owned West Madsen Gold Property, located in Ontario's Red Lake Gold Camp. This strategic move aims to advance exploration efforts in one of Canada's premier gold mining districts.
GoldON Resources (TSXV: GLD) has deployed a field crew from Emerald Geological Services for prospecting and drill hole orientation at its West Madsen gold property in Red Lake, Ontario. The property, spanning 5,988 hectares, borders the Madsen gold mine and mill complex owned by West Red Lake Gold Mines.
The fieldwork includes detailed geological mapping to test structural features identified by an airborne geophysical survey conducted in 2017 by Great Bear Resources. The focus area is adjacent to drill hole WM-21-22, which in 2021 intersected a broadly mineralized granodiorite unit, yielding 194.9 meters of 0.158 grams per tonne gold.
The geological mapping aims to determine the optimal drilling orientation and assess the suitability of potential drill collar locations. The technical details of this initiative have been reviewed and approved by Mike Kilbourne, P.Geo., a qualified person under NI 43-101 standards.
GoldON Resources (TSXV: GLD) has appointed Andrea Diakow, P.Geo., as the technical advisor for its West Madsen Gold Project in Red Lake, Ontario. Andrea brings over 15 years of mineral exploration experience, including significant contributions to the Dixie Project's success. Her role will focus on exploration studies and target development. The West Madsen project is strategically located 5 km from the Madsen gold mine and mill complex, owned by West Red Lake Gold Mines. Andrea's expertise is expected to enhance the project's exploration potential and development strategy.
GoldON Resources reported engaging Orix Geoscience for data compilation and interpretation to prepare for drilling at its West Madsen gold property in Red Lake, Ontario. The property, covering 5,988 hectares, includes two claim blocks, with current efforts focused on Block A, proximal to the Madsen mine. The objective is to explore the gold mineralization potential within felsic rocks of the Confederation Assemblage, inspired by Great Bear Resources' findings at the Dixie property. Orix will conduct GIS data compilation and review geophysical interpretations to identify targets for the next drilling phase.
GoldON Resources (TSXV: GLD) has successfully completed a non-brokered private placement financing, raising $400,000 through the issuance of 8,000,000 non-flow-through units priced at $0.05 each. Each unit includes one common share and one share purchase warrant, allowing the holder to buy an additional share at $0.10 within two years. The funds will be used for the West Madsen Gold Property and general working capital needs.
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