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GoldON Resources Update on West Madsen Gold Property in Ontario’s Red Lake Camp

Mining News - Published on Tue, 21 Jan 2020

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GoldON Resources Ltd has provided an exploration update on the West Madsen gold property that it has the right to earn up to a 100% interest in through an option agreement with Great Bear Resources. The Property is comprised of two contiguous claim blocks Block "A" and "B", each roughly six kilometres by three km in size for a total area of 3,860 hectares. Block A is directly adjacent to Pure Gold Mining'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 grams per tonne (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)

During the fall of 2019, GoldON mobilized Rimini Exploration & Consulting crews to complete a Phase II prospecting and geological mapping program on the West Madsen Property to follow up on the Phase I soil-gas-hydrocarbon (SGH) survey anomalies identified earlier this year. In conjunction with this prospecting program, the SGH survey was expanded to the west to test the projected extension of the contact of the Balmer and Confederation assemblages, a geological/structural contact that is similar to the adjacent Madsen property. Results from the extended SGH survey are pending and results from the prospecting program follow.

Phase II prospecting and geological mapping on West Madsen Block A was planned to investigate the hydrocarbon anomalies identified in ActLab's SGH survey interpretation. Work was focused on areas that were prospective for gold mineralization in the SGH report or were situated proximal to Pure Gold's Wedge target. A total of 28 grab samples were taken from outcrop and analyzed for gold and a multi-element suite (ICP-OES).

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Posted By : Rabi Wangkhem on Tue, 21 Jan 2020
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