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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 that it has retained Prospectair Geosurveys to conduct a property-wide, heliborne, high-resolution magnetometer (MAG) survey at its recently acquired Springpole East property (the "Property") in the Red Lake Mining District of Northwestern Ontario (See news release of December 8, 2021).
Figure 1: Regional map showing Springpole East location and GoldON's other projects
To view an enhanced version of this graphic, please visit:
https://goldonresources.com/images/Springpole-East/Springpole-East-Regional.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.
Mike Kilbourne, P.Geo., an independent Qualified Person as defined in NI 43-101, has reviewed and approved the contents of this news release on behalf of the Company.
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 in the Red Lake Mining District (West Madsen, Springpole East, Red Lake North, Pipestone Bay, Pakwash North, McInnes Lake, and McDonough) and an eighth property 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/111408
