The Ccmpany is evaluating drill bids and will finalize the drilling recommendations and budget once all bids are received
GoldON Resources announced that the exploration drilling permit has been received for the West Madsen gold property (the “Property”). GoldON has the right to earn a 100% interest in the Property through an option agreement with Great Bear Resources.
The Company is evaluating drill bids and will finalize the drilling recommendations and budget once all bids are received. GoldON is fully funded to complete the drilling program.
The Property is comprised of two contiguous claim blocks (Block “A” and “B”), each roughly six kilometres (km) by three km in size for a total area of 3,860 hectares. The focus of the program will be initial drill testing of four of six main drill targets that trend along in an east-west direction and run sub-parallel to magnetic lineaments on Block A of the Property. These lineaments are interpreted to represent the contact between the Balmer and Confederation assemblages which is a geological/structural contact that is similar to the adjacent Pure Gold Mining property where development of the Red Lake Gold Mine is on track and first gold production is anticipated in late 2020.
“We are thrilled to be preparing for our initial drilling campaign before the first anniversary of optioning the West Madsen Project from Great Bear Resources,” said Mike Romanik President of GoldON. “The Ontario Government has deemed mining and exploration an essential business and we will be commencing the drill program as soon as logistically possible.”
R. Bob Singh, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed and approved the technical contents of this news release on behalf of the Company.
Source: Company Press Release