GoldON Commences MAG Survey at Springpole East Property in Ontario's Red Lake Mining District

GoldON Commences MAG Survey at Springpole East Property in Ontario's Red Lake Mining District

The Property adjoins First Mining Gold's Springpole Project one of the largest undeveloped gold deposits in Canada at 3.8Moz probable reserves

GoldON Resources Ltd. (TSXV: GLD) ("GoldON" or the "Company") is pleased to announce Prospectair Geosurveys has commenced a property-wide, heliborne, high-resolution magnetometer (MAG) survey at its Springpole East property (the "Property") in the Red Lake Mining District of Northwestern Ontario (See news release of December 8, 2021).

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/7436/119375_73f2b5e644c08944_001.jpg

Figure 1: Regional map showing Springpole East location and GoldON's other projects

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7436/119375_73f2b5e644c08944_001full.jpg.

The MAG survey is planned to be flown at 50-metre flight line spacings for a total of 1,609-line kilometres (km) to cover the 5,186-hectare Property and has been designed to provide a clearer picture of the dominant geological trends and anomalous features on the Property that can be explored later this year when fieldwork commences.

The western boundary of the Property adjoins the Springpole project owned by First Mining Gold Corp., with the Springpole deposit located 9 km to the west of the boundary and hosting reserves of 3.8 million ounces of gold and 20.5 million ounces of silver. The 2021 pre-feasibility study of Springpole is highlighted by a 30,000 tonnes per day mining operation with a life of mine of 11 years.

About GoldON Resources Ltd.

GoldON is an exploration company focused on discovery-stage properties located in the prolific gold mining belts of northwestern Ontario, Canada. Our current project portfolio includes seven properties located in the Red Lake Mining District (McDonough, Springpole East, Red Lake North, Pipestone Bay, Pakwash North, McInnes Lake, and West Madsen) and an eighth property located in the Patricia Mining District (Slate Falls).

For additional information: please visit our website at goldonresources.com, you can download our latest investor presentation by clicking here and you can follow us on Twitter at https://twitter.com/GoldONResources.

ON BEHALF OF THE BOARD

Signed "Michael Romanik"

Michael Romanik, President
GoldON Resources Ltd.
Direct line: (204) 724-0613
Email: info@goldonresources.com
179 - 2945 Jacklin Road, Suite 416
Victoria, BC, V9B 6J9

Forward-Looking Statements:

This news release may contain "forward-looking statements" that involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/119375

News Provided by Newsfile via QuoteMedia

GLD:CA
The Conversation (0)
GoldON Arranges Private Placement Financing

GoldON Arranges Private Placement Financing

Flow-Through proceeds will be used for winter exploration drilling at the 100%-owned McDonough Gold Property in Red Lake, Ontario

GoldON Resources Ltd. (TSXV: GLD) ("GoldON" or the "Company") is arranging a non-brokered private placement financing of up to 2,500,000 flow-through units (the "FT Units") and 1,000,000 non-flow-through units (the "NFT Units) with qualified investors for maximum gross proceeds of $400,000 (the "Offering").

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
GoldON Grants Charitable Options to The Singh Foundation

GoldON Grants Charitable Options to The Singh Foundation

GoldON Resources Ltd. (TSXV: GLD) ("GoldON" or the "Company") has granted 240,000 charitable stock options to The Singh Foundation at a price of $0.12 per share for a period of five years from the date of grant. The charitable options have been granted in accordance with the Company's stock option plan.

The Singh Foundation is a registered non-profit charitable society that was established to create opportunities for youth by encouraging participation in their communities through sports and local programs. The Singh family has been part of the Surrey, British Columbia community for over 50 years and has seen how important it is for kids to be able to play in a healthy and safe environment. The goal of the Foundation is to provide that opportunity to all kids and families regardless of personal, societal, or economic barriers.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
GoldON Plans Drilling at McDonough Gold Property in Red Lake, Ontario

GoldON Plans Drilling at McDonough Gold Property in Red Lake, Ontario

Drill targets are well supported by coincident IP, geochem and geology

GoldON Resources Ltd. (TSXV: GLD) ("GoldON" or the "Company") is pleased to announce that diamond drilling will commence early in the first quarter of 2023 on its McDonough gold property (the "Property") located 15 kilometres (km) north of the town of Red Lake, Ontario.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
GoldON Resources AGM Results

GoldON Resources AGM Results

GoldON is an exploration company focused on discovery-stage properties located in the prolific gold mining belts of northwestern Ontario, Canada

GoldON Resources Ltd. (TSXV: GLD) ("GoldON" or the "Company") is pleased to report that shareholders approved all resolutions put before them at the Company's Annual General Meeting held November 10, 2022, in Victoria, BC.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
GoldON Identifies Anomalous Gold Trend at Its Springpole East Property in the Red Lake Mining District, Ontario

GoldON Identifies Anomalous Gold Trend at Its Springpole East Property in the Red Lake Mining District, Ontario

The Property adjoins First Mining Gold's Springpole Project, one of the largest undeveloped gold deposits in Canada at 3.8Moz probable reserves

GoldON Resources Ltd. (TSXV: GLD) ("GoldON" or the "Company") is pleased to provide an update on exploration activity at its Springpole East property (the "Property") in the Red Lake Mining District, Ontario (See Regional Map).

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Tempest Minerals

TEM | Yalgoo Update - Further Excellent Iron Results

Tempest Minerals Limited (ASX: TEM) is pleased to update that recent RC drilling at the Remorse Target has identified the presence of thick, high-grade, magnetite-hosted iron in initial assays which has now been confirmed with multiple drill holes over several kilometres of strike length. The Remorse Target is situated within the Company’s 100% owned Yalgoo Project which has multiple world-class iron ore operations nearby.

Keep reading...Show less
Great Boulder Resources

Divestment of Non-Core Whiteheads Gold Project

Great Boulder Resources (“Great Boulder” or the “Company”) (ASX: GBR) is pleased to provide an update regarding its Whiteheads Gold Project located 40km north of Kalgoorlie, Western Australia.

Keep reading...Show less
Sarama Resources

Sarama Announces Equity Placement of up to A$2M and Issue of Equity for Debt

Sarama Resources Ltd. (“Sarama” or the “Company”) (ASX:SRR, TSXV:SWA) is pleased to announce it has received binding commitments to undertake a A$2 million (before costs) equity placement (the “Placement”).

Keep reading...Show less
Rio Silver

Rio Silver


Keep reading...Show less
M&A graphic.

Orla to Buy Musselwhite Gold Mine from Newmont for US$850 Million

Orla Mining (TSX:OLA,NYSEAMERICAN:ORLA) has entered into a definitive deal to buy the Musselwhite gold mine from Newmont (TSX:NGT,NYSE:NEM), positioning the company to more than double its annual gold production.

The purchase, valued at US$810 million, with two additional contingent payments of US$20 million each, will set Orla up as a diversified North American gold producer as it marks the company's entry into Canada.

The first contingent payment will be made if the spot gold price exceeds US$2,900 per ounce in the first year after the transaction closes, and the second will be made if the price exceeds US$3,000 in the second year after closure.

Keep reading...Show less

Latest Press Releases

Related News

×