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).
To view an enhanced version of Figure 1, please visit:
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"
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