N/R - FYI 2021-09-29 08:31 ET - News Release
Victoria, British Columbia--(Newsfile Corp. - September 29, 2021) - GoldON Resources Ltd. (TSXV: GLD) ("GoldON" or the "Company") is pleased to announce it has received results from its initial mapping and sampling program completed on the McInnes Lake property (the "Property") in northwestern Ontario. Results of the program reveal the discovery of five new gold showings in a variety of environments not historically recorded within the entire greenstone belt.
Highlights include:
- A grab sample of a 10-centimetre quartz vein within granodiorite with 1% pyrite returned 3.56 g/t Au, 3135 ppm As, 1% Zn, and 1212 ppm Pb. This is the highest recorded gold sample in the belt and appears to be polymetallic veining within a granodiorite body.
- Sampling of unsampled drill core from a hole drilled by Cominco in 1979 returned values up to 400 ppb Au from biotized mafic volcanics with 0.5% fine pyrite and pyrrhotite. The core was located on an island at a Cominco core storage location indicated by an assessment report map in a large heap and partially identifiable by tags.
- Grab samples of weakly sheared, hematized sandstone with quartz stringers and trace pyrite and chalcopyrite returned from 70 to 244 ppb Au in outcrop and angular float boulders separated by over 700m. This is a newly recognized host for gold mineralization in the McInnes greenstone belt and may be extensive along strike.
- Banded iron-formation hosted gold mineralization in angular float boulders with samples returning up to 269 ppb Au and up to 1.28% Cu and 22.58 ppm Ag. Iron formation hosted gold deposits in Canadian Archean greenstone belts are and have been important gold production contributors (Musselwhite, Pickle Lake gold camp, Geraldton gold camp, and Meadowbank).
- A grab sample of mafic metavolcanic schist with 7-10% pyrite returned 444 ppb Au as well as 0.34% Cu and 0.32% Zn, suggestive of a VMS environment.
Grab samples are selective in nature and not necessarily representative of the mineralization on the Property.
"We recognized the McInnes greenstone had all the characteristics conducive to orogenic gold mineralization but had no systematic exploration in over 25 years. Thus, we staked the whole belt," says Mike Romanik, president of GoldON. "We are pleased with the results of our first-pass reconnaissance prospecting and mapping. Having discovered gold mineralization in several different gold model types, we are looking forward to returning and expanding on these footprints."