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GoldON Resources Ltd (NCMBF)

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Last Post: 11/17/2020 3:28:28 PM - Followers: 1 - Board type: Free - Posts Today: 0




Well, drilling highlights of the Wedge discovery include high-grade 108.5 g/t gold over 1.0 meter and 167.0 g/t gold over 1.1 meters,
which bodes well for 
GoldON’s West Madsen project.

Additionally, the PureGold property has a historical production of 2.6 million ounces of gold; and current resources from the Madsen (FS status),
Russett South, Fork, and Wedge deposits (PEA status) include an indicated resource of 2,063,000 ounces of gold (7.2 million tonnes at 8.9 g/t Au)
and an inferred resource of 467,000 ounces of gold (1.9 million tonnes at 7.7 g/t Au), highlighting GoldON Resources’
 massive potential as a result of the same Balmer-Confederation contact trending onto GoldON’s property.

For GoldON to earn an initial 60% interest in West Madsen Block A and B under the May 2019 Option Agreement, it must fulfill a number of requirements,
most of which have already been dealt with. These include:

  • Incurring an exploration expenditure of more than $450,000 so far.
    Cash payment of $100,000 to Great Bear Resources.
    Issue 500,000 GoldON common shares to Great Bear.

GoldON Resources (TSXV:GLD) (OTC:NCMBF) (FRA:6NR2) maintains strong fiscal responsibility
and has a proven track record of monetizing non core assets and raising capital when favorable.
Recently, the company closed a non-brokered private placement of 1,000,000 common shares at a price of $0.50 per unit with qualified investors raising
$500,000 to be used to fund the company’s exploration of the Red Lake Gold Camp and for general working capital purposes.8

Unlike other early stage explorers, GoldON is worthy of a closer look considering its tight share structure and significant insider ownership, with the CEO being the largest shareholder, owning ~10% of shares. With a $10 million market cap and no debt with capital devoted to exploration instead of excessive salaries, it’s highly probable that GoldON Resources’ (TSXV:GLD) (OTC:NCMBF) (FRA:6NR2) share price won’t remain at C$0.55 for long.


Press Releases

The Resurgence of Red Lake

Over its nine decade history, the Red Lake Mining district has produced more than 29 million ounces of high-grade gold from 29 gold mines
 (including the still-operating Red Lake Gold Mine), making it one of the largest and highest grade gold producing districts in Canada.

With such a long track record of mining in Red Lake,
it was easy to believe that the richest concentrations of near-surface gold mineralization had all been mined out a long time ago.

A close look at exploration companies in the Red Lake district clearly shows that 
GoldON Resources (TSXV:GLD) (OTC:NCMBF) (FRA:6NR2) is trading at a bargain and has the potential to grow its valuation significantly.

Current Price
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NCMBF News: Goldon Resources Ltd (NCMBD: Grey Market) | Symbol Change 04/04/2013 06:42:01 AM
NCMBF News: Deleted Symbol 03/07/2013 01:01:42 AM
#3   VICTORIA, BC / ACCESSWIRE / August 18, 2020 mick 11/17/20 03:28:28 PM
#2   https://miningnewsdaily.com/stock-quote/NCMBF/company/ mick 11/17/20 03:19:12 PM
#1   https://miningnewsdaily.com/stock-quote/NCMBF/quote/ mick 11/17/20 03:18:28 PM
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