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GoldON adds fifth property in Red Lake Gold District

Feb 24, 2021

GoldON Resources Ltd. has entered into an option agreement to acquire a 100% interest in the Red Lake North property located in the Red Lake Mining District. 

The Property is comprised of nine contiguous mining claims covering 3,347 hectares (ha) and is located approximately 65 kilometres (km) north of the town of Red Lake. (see Figure 1). Access is excellent via Nungesser Road, an all-weather road that runs within 1.5 km of the northwestern corner of the Property and connects to Red Lake.

The Property is hosted within the newly termed "Red Lake Extension" that is a volcanic-sediment band of rocks that stretches over 100 km and connects with the McInnes Lake Greenstone Belt. Age determinations (by Sanborn et al., 2004 at 2.94 Ga) suggest the belt is related to the Balmer Assemblage which is host to the majority of gold mines in the Red Lake Camp. A recent study by the Ministry of Energy, Northern Development and Mines - Ontario Geological Survey (OGS) (see Recommendations for Exploration 2020-2021) suggests that a seismic pronounced structure along this belt termed the "E1" is similar in nature and significance to the Red Lake gold mines and the LP Fault of Great Bear's Dixie Gold Project (see Figure 2).

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