- GoldON Resources (GLD) has received promising results from initial mapping and sampling at its McInnes Lake Property
- The property is located north of the Red Lake Mining Division in northwestern Ontario
- Results show five new gold showings in a variety of environments not historically recorded within the entire greenstone belt
- Analysis of historical data identified four prominent regional features
- GoldON Resources is unchanged, trading at $0.18 at 9:34 am ET
GoldON Resources (GLD) has received promising results from initial mapping and sampling at its McInnes Lake Property.
The property is located north of the Red Lake Mining Division in northwestern Ontario.
Results of the British Columbia-based company’s program revealed five new gold showings in a variety of environments not historically recorded within the entire greenstone belt.
Located approximately 117 kilometres north of Red Lake, the 11,424-hectare property is 29 kilometres long by up to 8.5 kilometres and covers the majority of the McInnes Lake Greenstone Belt.
Analysis of historical data identified four prominent regional features through compilation and the interpretation of an Ontario Geological Survey (OGS) conducted airborne magnetic and VLF-EM survey in 2008.
“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. 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,” said GoldON President Mike Romanik.
GoldON Resources is unchanged, trading at $0.18 at 9:34 am ET.
