- GoldON Resources Ltd. (GLD) has released an overview of the geological and structural study at its Red Lake North gold property
- The study integrated historical data with new data from the company’s recently completed high-resolution magnetometer survey
- The company plans to complete a prospecting program to further explore prospective areas
- GoldON is an exploration company focused on discovery-stage properties in the prolific gold mining belts of northwestern Ontario
- GoldON Resources Ltd. (GLD) is currently trading at $0.285 per share
GoldON Resources (GLD) has released an overview of the geological and structural study at its Red Lake North gold property.
The study, completed by Orix Geoscience, integrated all historical lithology and geochemistry data with new data from the company’s recently completed high-resolution magnetometer survey.
GoldON acquired the property, which had little historical exploration data, in February 2021.
The property had only one assessment from a 2009 regional overburden sampling program that included 123 till samples that revealed gold grades above the 95 percentile.
With the compilation and reinterpretation study in hand, the company now has a greater understanding of the geological and structural framework of the property.
Highlights from the study include the following geological characteristics:
- A concise stratigraphic and folded layering of various volcanic, ultra-mafic, and felsic intrusive lithologies;
- A prominent deformation/shear zone ranging from 100 to 750 metres wide;
- A D1 deformation event interpreted by north-striking units with regional flattening foliation parallel to the bedding; and
- Narrow bands of high magnetic chemical metasedimentary rocks
Orix Geoscience recommended that GoldON complete a prospecting program to further trace prospective units, contacts, and structures that could be associated with anomalous gold samples.
GoldON is an exploration company focused on discovery-stage properties in the prolific gold mining belts of northwestern Ontario.
Its project portfolio includes six properties in the Red Lake Mining Division and a seventh property in the Patricia Mining Division.
GoldON Resources Ltd. (GLD) is currently trading at $0.285 per share.
