Five discovery-stage gold projects in Northwestern Ontario and fully funded to complete current exploration plans
Five discovery-stage gold projects in Northwestern Ontario and fully funded to complete current exploration plans.
GoldON Resources Ltd. (TSXV: GLD) (“GoldON” or the “Company”) is a Canadian gold explorer focused on discovery through the exploration of overlooked and underexplored properties, and is pleased to provide an overview of the Company.
Capital Structure:
GoldON has no debt other than current trade payables and has raised approximately $2,856,000 over the last five months at an average price of $0.73 per share, with the latest financing closed with Mr. Eric Sprott. Share capitalization includes 22,318,292 common shares issued, 4,882,633 common share purchase warrants exercisable at an average price of $0.77, 2,616,000 incentive stock options exercisable at an average price of $0.41, and 29,816,925 common shares outstanding on a fully diluted basis ass
GoldON Resources Ltd: GoldON Resumes Exploration Drilling at West Madsen in the Heart of Ontario s Red Lake Gold Camp
Victoria, British Columbia (Newsfile Corp. - January 12, 2021) -
GoldON Resources Ltd. (TSXV: GLD) ( GoldON or the Company ) is pleased to report that the fully-funded Phase II exploration drilling program has recommenced at its West Madsen Gold Project right beside the new Pure Gold Red Lake Mine.
Figure 1: Phase II Target Area and Drill Plan for the West Madsen Project
To view an enhanced version of this graphic, please visit:
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About the West Madsen Gold Project:
GoldON Resources Ltd: GoldON Accelerates Acquisition of Bounty Claims in Ontario s Red Lake Gold Camp
Victoria, British Columbia (Newsfile Corp. - January 7, 2021) -
GoldON Resources Ltd. (TSXV: GLD) ( GoldON or the Company ) is pleased to report that it has elected to accelerate the option agreement with Bounty Gold Corp. (see news release of
July 29, 2020) and has acquired a 100% interest in the two claim blocks that adjoin Block A of the West Madsen Gold Project.
In keeping with the terms of the option agreement, GoldON paid Bounty a total of $80,000 in cash and issued 250,000 common shares to complete the acquisition. GoldON now owns a 100% interest in the Flat Lake and Madsen-Medicine Stone claim groups. Bounty will retain a 2% net smelter returns royalty of which GoldON may purchase half for $1,000,000.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. All statements in this press release, other than statements of historical fact, are forward-looking information with respect to PureGold within the meaning of applicable securities laws, including, but not limited to statements with respect to those that address proposed timing of development plans for the PureGold Red Lake Mine (RL Mine Project), timing of expected production, expected capital costs, expected development schedule, potential for advancing the timing for higher grade ore, potential for additional resources and the focus of the Company in the coming months . Forward-looking information is often, but not always, identified by the use of words such as seek , anticipate , plan , continue , planned , expect , project , pr
GoldON Resources Ltd: GoldON Updates Drilling at Its West Madsen Project in the Heart of Ontario s Red Lake Gold Camp
Victoria, Biritsh Columbia (Newsfile Corp. - December 22, 2020) -
GoldON Resources Ltd. (TSXV: GLD) ( GoldON or the Company ) is pleased to provide an update on the fully-funded Phase II diamond drilling program in progress at its West Madsen Project in the heart of the Red Lake Gold Camp (see Red Lake Regional Map for the location of West Madsen and GoldON s three other Red Lake projects).
Project Highlights:
To date 2,092 metres of the proposed 7,000 metre Phase II program are complete over five holes. It should be noted that the 5