MCINNES LAKE PROPERTY

This gives us a rare opportunity to control an entire greenstone belt and we are proceeding with Initial fieldwork that will consist of prospecting, mapping and lake sediment sampling focusing on four areas of the vastly underexplored claim package," Michael Romanik president of GoldON.

GoldON recently acquired a 100% interest in the 11, 424-hectare McInnes Lake property (the "Property") via staking. This district-scale (29 km long by up to 8.5 km wide) Property is located ~117 km north of the town of Red Lake and covers most of the McInnes Lake Greenstone Belt in northwestern Ontario (see news release of June 3, 2021).

Figure 1: Regional map with Location of McInnes Lake & GoldON's Other Properties (click on image to enlarge)

The McInnes Lake Greenstone Belt lies within the North Caribou Terrane of the Superior Province. Deep penetrating seismic studies north from the English River domain through the Uchi domain into the Berens River Complex of the North Caribou Terrane have shown that the gold deposits of the Red Lake camp and gold deposits along the LP Fault, recently discovered by Great Bear Resources, are associated with deep crustal-scale features.

According to seismic survey interpretations by Zang and Calvert 2006, the McInnes Lake Greenstone Belt is interpreted to lie along a northern extension of a deep crustal E1 extensional shear zone. This has geological and mineralization implications for fluid and magmatic pathways for various precious and base metal deposit models.

Figure 2: Ontario Geological Survey - Bedrock Geology (click on image to enlarge)

The McInnes Lake Greenstone Belt is comprised of a volcanic-sediment package of rocks representing a back-arc environment ‘sandwiched’ in between two opposing granitic masses. Age-dating of the McInnes Lake Greenstone Belt volcanic rocks are 2.93-2.97 billion years old representing Balmer Assemblage aged lithologies (OGS Map P3589). The Balmer Assemblage is host to most of the current gold resources and historical gold production in the Red Lake Greenstone Belt.

Based on the association of these deep crustal-scale features to the deposits of the Red Lake Camp, we took a more regional approach to find similar structural pronouncements that led us to the McInnes Lake Greenstone Belt,” said Michael Romanik president of GoldON.